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The Small Core of the German Corporate Board Network: New Evidence from 2010

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  • Mishael Milakovic
  • Simone Alfarano
  • Thomas Lux

Abstract

Milakovic, Alfarano and Lux (2010) have identified a small core of directors who are both highly central to the entire network of German corporate boards as well as closely connected among themselves. While their analysis has been based on data for the management and supervisory boards of a sample of 287 publicly traded companies with high market capitalization as of May 2008, a subsequent study by Milakovic, Raddant and Birg (2010) using somewhat smaller samples from the years 1993, 1999, and 2005 has confirmed that this closely connected core is a persistent stylized fact for the German corporate sector. In this note, we provide an update of our previous results using the composition of management and supervisory boards as of December, 2010. Again, almost all qualitative properties of previous samples are confirmed despite considerable turnover within the group of persons constituting the network core

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Bibliographic Info

Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 1740.

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Length: 13 pages
Date of creation: Nov 2011
Date of revision:
Handle: RePEc:kie:kieliw:1740

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Keywords: board and director interlocks; network core; network formation; market capitalization;

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  1. Benjamin Balsmeier & Achim Buchwald & Heiko Peters, 2010. "Auswirkungen von Mehrfachmandaten deutscher Vorstands- und Aufsichtsratsvorsitzender auf den Unternehmenserfolg," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 230(5), pages 547-570, October.
  2. Simone Alfarano & Thomas Lux & Mishael Milakovic, 2008. "The Small Core of the German Corporate Board Network," Kiel Working Papers 1446, Kiel Institute for the World Economy.
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