Persistence of a network core in the time evolution of interlocking directorates
We examine the bipartite graphs of German corporate boards in 1993, 1999 and 2005, and identify cores of directors who are highly central in the entire network while being densely connected among themselves. Germany's corporate governance has experienced significant changes during this time, and there is substantial turnover in the identity of core members, yet we observe the persistent presence of a network core, which is even robust to changes in the tail distribution of multiple board memberships. Anecdotal evidence suggests that core persistence originates from the board appointment decisions of largely capitalized corporations.
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| Length: | |
| Date of creation: | 2009 |
| Date of revision: | |
| Handle: | RePEc:zbw:cauewp:200910 |
| Contact details of provider: | Postal: D-24098 Kiel,Wilhelm-Seelig-Platz 1 Phone: 0431-880 3282 Fax: 0431-880 3150 Web page: http://www.vwl.uni-kiel.de/en More information through EDIRC
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References listed on IDEAS
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- Galaskiewicz, Joseph, 2007. "Has a Network Theory of Organizational Behaviour Lived Up to its Promises?," Management and Organization Review, Cambridge University Press, vol. 3(01), pages 1-18, March.
- Alfarano, Simone & Milakovic, Mishael, 2009. "Network structure and N-dependence in agent-based herding models," Journal of Economic Dynamics and Control, Elsevier, vol. 33(1), pages 78-92, January.
- 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.
- Milaković, Mishael & Alfarano, Simone & Lux, Thomas, 2008. "The small core of the German corporate board network," Kiel Working Papers 1446, Kiel Institute for the World Economy (IfW).
- S. Battiston & M. Catanzaro, 2004. "Statistical properties of corporate board and director networks," The European Physical Journal B - Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 38(2), pages 345-352, 03.
- Caldarelli, Guido & Catanzaro, Michele, 2004. "The corporate boards networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 338(1), pages 98-106.
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