FEEM working papers "Note di lavoro" series
2015 .082

An Attempt to Disperse the Italian Interlocking Directorship Network: Analyzing the Effects of the 2011 Reform


Authors: Carlo Drago, Roberto Ricciuti, Paolo Santella
Series: Economy and Society
Keywords: Interlocking Directorships, Corporate Governance, Community Detection, Social Networks
JEL n.: C33, G34, G38, L14

Abstract

The purpose of this paper is to analyze the effects on the Italian directorship network of the corporate governance reform that was introduced in Italy in 2011 to prevent interlocking directorships in the financial sector. Interlocking directorships are important communication channels among companies and may have anticompetitive effect. We apply community detection techniques to the analysis of the networks in 2009 and 2012 to ascertain the effect of the reform. We find that, although the number of interlocking directorships decreases in 2012, the reduction takes place mainly at the periphery of the network whereas the network core is stable, allowing the most connected companies to keep their strategic position.
 

***
Suggested citation: Drago, C., Ricciuti, R., P. Santella, (2015), ''n Attempt to Disperse the Italian Interlocking Directorship Network: Analyzing the Effects of the 2011 Reform', Nota di Lavoro 82.2015, Milan, Italy: Fondazione Eni Enrico Mattei

Download file
Download PDF file

FEEM Update

Subscribe to stay connected.

Your personal data will be processed by Fondazione Eni Enrico Mattei. – data Controller – with the aim of emailing the FEEM newsletter. The use of Your email address is necessary for the implementation of the newsletter service. You are invited to read the Privacy Policy in order to obtain additional information about the protection of Your rights.

This Website uses technical cookies and cookie analytics, as well as “third party” profiling cookies.
If you close this banner or you decide to continue navigating on this Website, you express consent to the use of cookies. If you need additional information or you wish to express selective choices on the use of cookies, please refer to the   Cookie PolicyI agree