Abstract. Outside directors are now a majority on the boards of the‘Fortune 500’corporations creating a network of interconnections through interlocking directorates. Details of this phenomenon and explanations for its significance can be found in an earlier article in this Journal*. This network can be visualized as a system through which common norms, values, and a sense of “weness” can flow. This sense of being part of a corporate establishment would have significant effects on corporate conduct. From what top corporate leaders say and do, the validity and implications of this hypothesis are examined. This class hegemony theory views power as shared within a system of social relationships, in contrast to the management control theory which considers management as in total control.

No abstract

No abstract

No abstract