Small Worlds and Board Interlocking in Brazil: A Longitudinal Study of Corporate Networks, 1997-2007
Small Worlds and Board Interlocking in Brazil: A Longitudinal Study of Corporate Networks, 1997-2007
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巴西的小世界和董事会联锁：企业网络纵向研究，1997-2007 年
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发表时间：
2011
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通讯作者：
Wesley Mendes
中科院分区：
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作者：
Wesley Mendes
社会网络分析(SNA)是金融领域的一个新兴研究领域，尤其是在巴西。这项工作具有开创性，因为它参考了不同的知识领域：社会网络分析和公司治理，以处理金融领域的一个类似新出现的主题；连锁董事会，目的是检查小世界模式在巴西资本市场的有效性，以及公司在公司关系网络中的地位与其价值之间是否存在关联。为此，使用了1997至2007年间在巴西上市的400多家公司的官方数据。研究结果表明，董事会成员与公司之间的关系网络结构反映了小世界模型。此外，企业的中心性和其价值之间似乎存在显著的关系，按照倒U形曲线描述，这表明在企业网络中存在最优的社会显赫价值。
Social Network Analysis (SNA) is an emerging research field in finance, above all in Brazil. This work is pioneering in that it is supported by reference to different areas of knowledge: social network analysis and corporate governance, for dealing with a similarly emerging topic in finance; interlocking boards, the purpose being to check the validity of the small-world model in the Brazilian capital market, and the existence of associations between the positioning of the firm in the network of corporate relationships and its worth. To do so official data relating to more than 400 companies listed in Brazil between 1997 and 2007 were used. The main results obtained suggest that the configuration of the networks of relationships between board members and companies reflects the small-world model. Furthermore, there seems to be a significant relationship between the firm’s centrality and its worth, described according to an “inverted U” curve, which suggests the existence of optimum values of social prominence in the corporate network.