The Small World Network Structure of Boards of Directors

Conyon, M. J. and Muldoon, M. R. (2005) The Small World Network Structure of Boards of Directors. [MIMS Preprint]

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In this paper we present a random graph model to explain the network structure of boards of directors. We investigate the conditions under which corporate boards can be said to be a "small-world". Our empirical results show that the random graph model is remarkably good at explaining board structure and connectedness in the United States, the United Kingdom and Germany. Although there are small-world traits such as "clustering" and "short-paths" in the corporate world, they are no more pronounced than would be expected by chance in a statistically similar, but randomly assembled corporate universe. Finally, our results show the existence of positive degree correlation: directors who sit on many boards do so in the company of other directors who sit on many boards. This result helps explain the distribution of board interlocks.

Item Type: MIMS Preprint
Uncontrolled Keywords: Corporate directorships, small worlds, random graphs
Subjects: PACS 2010, the AIP's Physics and Astronomy Classification Scheme > 80 INTERDISCIPLINARY PHYSICS AND RELATED AREAS OF SCIENCE AND TECHNOLOGY > 89 Other areas of applied and interdisciplinary physics
Depositing User: Dr Mark Muldoon
Date Deposited: 16 Nov 2005
Last Modified: 08 Nov 2017 18:18

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