Control configurations of corporate power networks in Spain
DOI:
https://doi.org/10.3989/ris.2018.76.2.16.0100Keywords:
Control Interfaces, Corporate Control, Interlocking Directorates, Mode of Power Exercising, Social Network AnalysisAbstract
The research studies control corporate structures and distribution in those networks formed by the shareholders and the managerial boards of directors (CA) of the 227 largest Spanish companies in terms of operating income (IE) in 2013. The results allows to identify three control patterns. First, a dense network of shareholders and managers that develop a centralized core and exercise direct control. Secondly, a set of Global Collective Investment Institutions (IICs), mostly non-residents, exercising a style of indirect control through the participation in the capital of Spanish companies or through subsidiaries of transnational corporations, which play through the elaboration and negotiation strategies from outside the managerial boards of the investees. Third, a more personal and direct control pattern exercised by blockholders and managers in isolated companies.
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