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

Author

Listed:
  • 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.

Suggested Citation

  • Juan Antonio Rubio Mondéjar & Josean Garrués Irurzun, 2012. "Estructura corporativa e interlocking directorates en las mayores empresas españolas, 1917-1970," FEG Working Paper Series 01/12, Faculty of Economics and Business (University of Granada).
  • Handle: RePEc:gra:fegper:01/12
    as

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    File URL: http://www.ugr.es/~teoriahe/RePEc/gra/fegper/FEGWP112.pdf
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    References listed on IDEAS

    as
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    3. Granovetter, Mark, 1995. "Coase Revisited: Business Groups in the Modern Economy," Industrial and Corporate Change, Oxford University Press, vol. 4(1), pages 93-130.
    4. 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.
    5. Hee-Jung Yeo & Christine Pochet & Alain Alcouffe, 2003. "CEO Reciprocal Interlocks in French Corporations," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 7(1), pages 87-108, March.
    6. 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.
    7. repec:ucp:bkecon:9780226531083 is not listed on IDEAS
    8. 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).
    9. 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.
    10. 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.
    11. Windolf, Paul, 2002. "Corporate Networks in Europe and the United States," OUP Catalogue, Oxford University Press, number 9780199256976.
    12. 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.
    13. 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.
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    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Who’s Who in Spanish Corporate Governance?
      by bearodr in NEP-HIS blog on 2012-06-13 14:53:09

    More about this item

    Keywords

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

    JEL classification:

    • N24 - Economic History - - Financial Markets and Institutions - - - Europe: 1913-
    • P12 - Economic Systems - - Capitalist Systems - - - Capitalist Enterprises
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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