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Journal of Economic Interaction and Coordination

Erschienen in:

01.10.2014 | Regular Article

Interlocking directorates in Italy: persistent links in network dynamics

verfasst von: Lucia Bellenzier, Rosanna Grassi

Erschienen in: Journal of Economic Interaction and Coordination | Ausgabe 2/2014

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Abstract

In this work we study the time evolution of interlocking directorates in Italy from 1998 to 2011 by means of dynamical networks. Our purpose is to assess if in Italy there is a connected and stable structure, due to the presence of directors with multiple mandates, like it happens in the German case. We find a very cohesive network structure, due to the presence of a few directors with multiple assignments and, unlike the German case, this structure is stable, but not connected. Moreover we propose an alternative approach to investigate the dynamics, based on temporal networks, in order to quantify the variation of links in a certain time period. We construct a unique cumulative network, where nodes are companies and the existence of an edge is related with the persistence in time of an interlock between two companies. This persistence is due on the one hand to the ownership of a few family firms, and on the other hand to cross-shareholdings between companies. To complete the analysis we also investigate whether the link stability results from the appointments of the same director or from the stepping in/out of different directors.

Vorheriger Artikel Showing or telling? Local interaction and organization of behavior

Nächster Artikel Strong random correlations in networks of heterogeneous agents

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In this work, the word “stability” refers to the presence over time of network links, and it does not have the meaning assumed in dynamical system theory.

This is a typical Italian expression to identify a the well-heeled elite of bankers, industrialists and politicians that still dominate Italy’s economic life (see Corrado and Zollo 2006).

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Titel: Interlocking directorates in Italy: persistent links in network dynamics
verfasst von: Lucia Bellenzier
Rosanna Grassi
Publikationsdatum: 01.10.2014
Verlag: Springer Berlin Heidelberg
Erschienen in: Journal of Economic Interaction and Coordination / Ausgabe 2/2014
Print ISSN: 1860-711X
Elektronische ISSN: 1860-7128
DOI: https://doi.org/10.1007/s11403-013-0119-8

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