The Corporate Elite Community Structure of Global Capitalism

Heemskerk, Eelke M.; Takes, Frank W.

doi:10.1080/13563467.2015.1041483

Cited by 111 publications

(109 citation statements)

References 73 publications

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“…The Anglo-America/Anglosphere approach, on the other hand, suggests that these states and territories generally have much more in common with other Anglophone countries than with neighboring countries and, thus, should be analyzed together. Research by Heemskerk and Takes (2016) supports this view. Utilizing community detection through modularity maximization, they analyze how the largest one million global corporations are connected through interlocking directorates.…”

Section: The Anglo-america/anglosphere Approachsupporting

confidence: 62%

The anatomy of the Cayman Islands offshore financial center: Anglo-America, Japan, and the role of hedge funds

Fichtner

2016

Review of International Political Economy

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Section: The Anglo-america/anglosphere Approachsupporting

confidence: 62%

The anatomy of the Cayman Islands offshore financial center: Anglo-America, Japan, and the role of hedge funds

Fichtner

2016

Review of International Political Economy

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“…Board interlock researchers have recently documented an increase in transnational interlocks (i.e. board interlocks that cross national borders) which is consistent with the globalization of trade and production (Burris and Staples, ; Carroll and Fennema, ; Heemskerk, ; Heemskerk and Takes, ; Kentor and Jang, ). This literature has traditionally emphasized the role of individual directors in the formation of transnational interlocks.…”

Section: Introductionmentioning

confidence: 81%

Transnational Board Interlocks as a Source of Non‐experiential Knowledge for the Firm in Foreign Markets

González¹

2019

British J of Management

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Board interlocks between firms headquartered in different countries are increasing. We contribute to the understanding of this practice by investigating the transnational interlocks formed by the 100 largest British firms between 2011 and 2014. We explore the association between different attributes of a firm's internationalization process, namely performance, structural and attitudinal, and the extent of the firm's engagement in transnational interlocks. We posit that the value of transnational interlocks as a non‐experiential source of knowledge will vary according to which of these three attributes becomes more prominent as the firm internationalizes. We do not find a significant relationship between the performance and structural attributes of internationalization, as measured by the firm's percentage of foreign sales and assets, respectively, and increased engagement in transnational interlocks. We do, however, find an inverted U‐shaped relationship between the attitudinal attribute of internationalization, represented by the psychic dispersion of the firm's foreign operations, and the firm's number of transnational interlocks. This non‐linear relationship reveals both a natural boundary for the firm's capacity to engage in transnational interlocks and a reduced willingness to engage in such ties once a certain degree of attitudinal internationalization has been reached.

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“…The role of social networks in this formation is found to be very significant (Carroll, 2010). Globalization has not led to competing elites but to the rise of a strong transnational elite, the core of which is comprised of corporate elites from the core countries (USA and UK), and which form a powerful opponent for any competing faction in the global corporate elite; moreover, in 2013, nearly 370 thousand businessmen -11% of all directors of the top one million firms -were interlocking directors, holding positions in at least two firms (Heemskerk & Takes, 2016). These empirical results also support our conclusions.…”

Section: Market Competition Vs Meta-competitionmentioning

confidence: 99%

On the World Economic Elite

Figueroa¹,

Rentería²

2016

ECONOMIA

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Economic elites have not received enough attention in the economic literature. The obvious reason is limited access to information. This paper seeks to contribute to contemporary knowledge on elites in two ways. First, it employs a new unique data set on the world economic elite covering 2002-2014 to develop a method of measuring the degree of elite circulation; second, it provides a theoretical explanation of the observed facts. The empirical finding is that the world economic elite is subject to a low degree of circulation. Despite increased globalization, liberalization, longterm economic growth, and the recent Great Recession, the core of the elite remains mostly unchanged. Our theory attempts to explain this fact by introducing the analytical distinction between market competition and elite competition, which is a kind of meta-competition. Thus, the following relationship is derived from the theory: The low level of elite circulation, that is, the low meta-competition, underlies the oligopolistic market structures that we observe in the real world. Key words: Economic elites, elite competition, wealth concentration. JEL Classification: D31, D40, O24. Acerca de la élite económica del mundo RESUMENLas élites económicas no han recibido suficiente atención en la literatura económica. La razón evidente es el acceso limitado a información. Este estudio busca contribuir al conocimiento contemporáneo sobre elites de dos maneras. En primer lugar, utilizando una nueva base de datos de las élites económicas mundiales que cubre el periodo 2002-2014, se desarrolla un método para medir el grado de circulación de las élites; en segundo lugar, se ofrece una explicación teórica de los hechos observados. El hallazgo empírico consiste en que la élite económica mundial muestra un bajo grado de circulación. A pesar de la mayor globalización, liberalización, crecimiento económico de largo plazo y una gran recesión económica reciente, el núcleo de las élites permanece casi inmutable. Nuestra teoría explica este hecho introduciendo la distinción analítica entre competencia de mercado y competencia de la élite, la cual es una especie de metacompetencia. Luego, XXXIX, N° 77, 2016 / ISSN 0254-4415 la siguiente relación es derivada de la teoría: el bajo nivel de circulación de las élites, es decir, la baja meta-competencia, subyace a las estructuras oligopolísticas de mercado que se observan en el mundo real. Palabras clave: élites económicas, competencia de la élite, concentración de la riqueza. Clasificación J.E.L.: D31, D40, O24.

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The Corporate Elite Community Structure of Global Capitalism

Cited by 111 publications

References 73 publications

The anatomy of the Cayman Islands offshore financial center: Anglo-America, Japan, and the role of hedge funds

The anatomy of the Cayman Islands offshore financial center: Anglo-America, Japan, and the role of hedge funds

Transnational Board Interlocks as a Source of Non‐experiential Knowledge for the Firm in Foreign Markets

On the World Economic Elite

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