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Estructura corporativa e interlocking directorates en las mayores empresas españolas, 1917-1970

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  • Juan Antonio Rubio Mondéjar

    ()
    (Universidad de Granada. Department of Economic Theory and Economic History)

  • Josean Garrués Irurzun

    ()
    (Universidad de Granada. Department of Economic Theory and Economic History)

Abstract

This paper analyzes some of the characteristics of Spanish capitalism between 1917 and 1970. For that purpose, we resort to the technique known as interlocking directorates and applies the methodology of social network analysis (SNA) to the board of directors of the 210 largest Spanish companies, in a benchmark dates (1917, 1930, 1948 and 1970). The results allow us to answer the questions of what has been the evolution of the Spanish business structure over the twentieth century and which sectors have been central to each of the moments analyzed. At the same time, we identify the main groups of companies, and the links established among them, assessing the role of financial sector in the national economic structure. Based on the relationships between the members of the Board of Directors and social capital theory, the second objective identifies the circle of Spanish economic power, quantifies the degree of cohesion, and follow its evolution over time, confirming its continuity / disappearance.

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File URL: http://www.ugr.es/~teoriahe/RePEc/gra/fegper/FEGWP112.pdf
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Bibliographic Info

Paper provided by Faculty of Economics and Business (University of Granada) in its series FEG Working Paper Series with number 01/12.

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Length: 56 pages
Date of creation: 05 May 2012
Date of revision:
Handle: RePEc:gra:fegper:01/12

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Keywords: social networks; financial system; board of directors; Business History; interlocking directorates;

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References

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  1. Benjamin E. Hermalin & Michael S. Weisbach, 2003. "Boards of directors as an endogenously determined institution: a survey of the economic literature," Economic Policy Review, Federal Reserve Bank of New York, issue Apr, pages 7-26.
  2. Windolf, Paul, 2002. "Corporate Networks in Europe and the United States," OUP Catalogue, Oxford University Press, number 9780199256976.
  3. Hee-Jung Yeo & Christine Pochet & Alain Alcouffe, 2003. "CEO Reciprocal Interlocks in French Corporations," Journal of Management and Governance, Springer, vol. 7(1), pages 87-108, March.
  4. Santella, Paolo & Drago, Carlo & Polo, Andrea & Gagliardi, Enrico, 2009. "A Comparison among the director networks in the main listed companies in France, Germany, Italy, and the United Kingdom," MPRA Paper 16397, University Library of Munich, Germany.
  5. Stephen Haber & Enrico Perotti, 2008. "The Political Economy of Financial Systems," Tinbergen Institute Discussion Papers 08-045/2, Tinbergen Institute.
  6. Josean Garrués Irurzun & Juan Antonio Rubio Mondéjar, 2011. "Redes empresariales e integración económica regional en perspectiva histórica: el caso de Andalucía," FEG Working Paper Series 04/11, Faculty of Economics and Business (University of Granada).
  7. Marc Badia Miro & Yolanda Blasco & Sergi Lozano & Raimon Soler, 2010. "Centrality and investment strategies at the beginning of industrialisation in mid-nineteenth-century Catalonia," Business History, Taylor & Francis Journals, vol. 52(3), pages 493-515.
  8. Granovetter, Mark, 1995. "Coase Revisited: Business Groups in the Modern Economy," Industrial and Corporate Change, Oxford University Press, vol. 4(1), pages 93-130.
  9. Rajan, Raghuram G. & Zingales, Luigi, 2003. "The great reversals: the politics of financial development in the twentieth century," Journal of Financial Economics, Elsevier, vol. 69(1), pages 5-50, July.
  10. Felis-Rota, Marta, 2011. "Un paseo por la literatura sobre capital social desde una perspectiva económica," Revista de Historia Económica, Cambridge University Press, vol. 29(03), pages 461-475, December.
  11. Mintz, Beth A. & Schwartz, Michael, 1985. "The Power Structure of American Business," University of Chicago Press Economics Books, University of Chicago Press, edition 0, number 9780226531083, March.
  12. Leo Mac Canna & Niamh Brennan & Eleanor O'Higgins, 1998. "National Networks of Corporate Power: An Irish Perspective," Journal of Management and Governance, Springer, vol. 2(4), pages 357-379, December.
  13. Francisco J. Pueyo, 2006. "Interlocking directorates in Spanish banking in the twentieth century," Economics Working Papers 931, Department of Economics and Business, Universitat Pompeu Fabra.
  14. Luca Fiorito, 2011. "The influence of American economists on the Clayton and Federal Trade Commission Acts," Department of Economics University of Siena 623, Department of Economics, University of Siena.
  15. Höpner, Martin & Krempel, Lothar, 2003. "The politics of the German company network," MPIfG Working Paper 03/9, Max Planck Institute for the Study of Societies.
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  1. Who’s Who in Spanish Corporate Governance?
    by bearodr in NEP-HIS blog on 2012-06-13 09:53:09

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