The Structure of Italian Capitalism, 1952 1972: New Evidence Using the Interlocking Directorates Technique
AbstractThis article explores the structure of the italian capitalist system by focusing on the relationships between financial firms banks, insurance and holding companies and industrial companies in italy during the period 1952 72 through the analysis of the interlocks that existed between them. By an interlock is meant the link created between two firms when an individual belongs to the board of directors of both. The analysis is based on a database imita.db containing data on over 30,000 directors of italian joint-stock companies for the years 1952, 1960 and 1972. After a descriptive statistical overview of the companies and the directors included in the database, the article develops a network connectivity analysis of the system. This is integrated with a prosopographic study of the big linkers, defined as those directors cumulating the highest number of offices in each benchmark year. The article confirms that italian capitalism maintained substantial peculiarities in the period investigated. in particular, it argues that interlocks played an important role in guaranteeing the stability of the positions of control of the major private companies and their connections with state-owned enterprises. In 1952 and 1960 the system, centred on the larger electrical companies, showed the highest degree of cohesion. That centre dissolved after nationalisation of the electricity industry in 1962 and was replaced by a less strong and cohesive one, hinged on banks, insurance and the major finance companies.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Cambridge University Press in its journal Financial History Review.
Volume (Year): 12 (2005)
Issue (Month): 02 (October)
Contact details of provider:
Postal: The Edinburgh Building, Shaftesbury Road, Cambridge CB2 2RU UK
Fax: +44 (0)1223 325150
Web page: http://journals.cambridge.org/jid_FHRProvider-Email:firstname.lastname@example.org
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- repec:mod:depeco:0013 is not listed on IDEAS
- Alberto Baccini & Leonardo Marroni, 2013. "In the shadow of the interlocking directorates regulation. A comparative case study," Department of Economics University of Siena 683, Department of Economics, University of Siena.
- Maria Rosaria Carillo & Vincenzo Lombardo & Alberto Zazzaro, 2013. "Family connections and entrepreneurial human capital: The uncertain destiny of proprietary capitalism," Mo.Fi.R. Working Papers 89, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Keith Waters).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.