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Title:The small core of the German corporate board network: New evidence from 2010 PDF Logo
Authors:Milakovic, Mishael
Alfarano, Simone
Lux, Thomas
Issue Date:2011
Series/Report no.:Kiel Working Papers 1740
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.
Subjects:board and director interlocks
network core
network formation
market capitalization
JEL:D85
L20
M14
M51
Document Type:Working Paper
Appears in Collections:Kieler Arbeitspapiere, IfW
Publikationen von Forscherinnen und Forschern des IfW

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