Persistence of a network core in the time evolution of interlocking directorates

Mishael Milaković, Matthias Raddant and Laura Birg

No 2009-10, Economics Working Papers from Christian-Albrechts-University of Kiel, Department of Economics

Abstract: 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.

Keywords: Network core; density; centrality; interlocking directorates; corporate governance (search for similar items in EconPapers)
Date: 2009
New Economics Papers: this item is included in nep-net
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:cauewp:200910

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