Board interlocking network in the Brazilian stock market : a hypothesis on the conflicting manager

Detalhes bibliográficos
Autor(a) principal: Carbonai, Davide
Data de Publicação: 2019
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional da UFRGS
Texto Completo: http://hdl.handle.net/10183/201105
Resumo: Brazilian law establishes a set of provisions regarding the defense of competition, usually with a dissuasive effect on the conflicting performance of the multi-company manager. However, research highlights that practices such as interlocking directorates (i.e., interconnected directorates with board members operating in multiple companies) are widespread, especially in the stock market. The present article explores this paradox by analyzing a social network of 347 Brazilian listed companies. An E-I (externalinternal) index and a permutation test are used to verify the occurrence of direct and indirect intermediation within and among economic sectors. The paper advances towards a hypothesis on the effectiveness of the Brazilian antitrust legislation.
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spelling Carbonai, Davide2019-10-30T03:45:45Z20192220-9352http://hdl.handle.net/10183/201105001104860Brazilian law establishes a set of provisions regarding the defense of competition, usually with a dissuasive effect on the conflicting performance of the multi-company manager. However, research highlights that practices such as interlocking directorates (i.e., interconnected directorates with board members operating in multiple companies) are widespread, especially in the stock market. The present article explores this paradox by analyzing a social network of 347 Brazilian listed companies. An E-I (externalinternal) index and a permutation test are used to verify the occurrence of direct and indirect intermediation within and among economic sectors. The paper advances towards a hypothesis on the effectiveness of the Brazilian antitrust legislation.application/pdfengJournal of Governance and Regulation. Sumy, Ukraine. Vol. 8, no. 1 (2019), p. 75-81Mercado de açõesLei AntitrusteGerenciamento de conflitosAntitrust lawBrazilConflicting managerMultiple directorshipsSocial network analysisBoard interlocking network in the Brazilian stock market : a hypothesis on the conflicting managerEstrangeiroinfo:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/openAccessreponame:Repositório Institucional da UFRGSinstname:Universidade Federal do Rio Grande do Sul (UFRGS)instacron:UFRGSTEXT001104860.pdf.txt001104860.pdf.txtExtracted Texttext/plain32161http://www.lume.ufrgs.br/bitstream/10183/201105/2/001104860.pdf.txt9110b5f7df599bd10e927d966d409b0eMD52ORIGINAL001104860.pdfTexto completo (inglês)application/pdf1128517http://www.lume.ufrgs.br/bitstream/10183/201105/1/001104860.pdf3e00e764423b1f6cfa85c2200757bf91MD5110183/2011052019-10-31 03:49:27.746935oai:www.lume.ufrgs.br:10183/201105Repositório de PublicaçõesPUBhttps://lume.ufrgs.br/oai/requestopendoar:2019-10-31T06:49:27Repositório Institucional da UFRGS - Universidade Federal do Rio Grande do Sul (UFRGS)false
dc.title.pt_BR.fl_str_mv Board interlocking network in the Brazilian stock market : a hypothesis on the conflicting manager
title Board interlocking network in the Brazilian stock market : a hypothesis on the conflicting manager
spellingShingle Board interlocking network in the Brazilian stock market : a hypothesis on the conflicting manager
Carbonai, Davide
Mercado de ações
Lei Antitruste
Gerenciamento de conflitos
Antitrust law
Brazil
Conflicting manager
Multiple directorships
Social network analysis
title_short Board interlocking network in the Brazilian stock market : a hypothesis on the conflicting manager
title_full Board interlocking network in the Brazilian stock market : a hypothesis on the conflicting manager
title_fullStr Board interlocking network in the Brazilian stock market : a hypothesis on the conflicting manager
title_full_unstemmed Board interlocking network in the Brazilian stock market : a hypothesis on the conflicting manager
title_sort Board interlocking network in the Brazilian stock market : a hypothesis on the conflicting manager
author Carbonai, Davide
author_facet Carbonai, Davide
author_role author
dc.contributor.author.fl_str_mv Carbonai, Davide
dc.subject.por.fl_str_mv Mercado de ações
Lei Antitruste
Gerenciamento de conflitos
topic Mercado de ações
Lei Antitruste
Gerenciamento de conflitos
Antitrust law
Brazil
Conflicting manager
Multiple directorships
Social network analysis
dc.subject.eng.fl_str_mv Antitrust law
Brazil
Conflicting manager
Multiple directorships
Social network analysis
description Brazilian law establishes a set of provisions regarding the defense of competition, usually with a dissuasive effect on the conflicting performance of the multi-company manager. However, research highlights that practices such as interlocking directorates (i.e., interconnected directorates with board members operating in multiple companies) are widespread, especially in the stock market. The present article explores this paradox by analyzing a social network of 347 Brazilian listed companies. An E-I (externalinternal) index and a permutation test are used to verify the occurrence of direct and indirect intermediation within and among economic sectors. The paper advances towards a hypothesis on the effectiveness of the Brazilian antitrust legislation.
publishDate 2019
dc.date.accessioned.fl_str_mv 2019-10-30T03:45:45Z
dc.date.issued.fl_str_mv 2019
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dc.identifier.issn.pt_BR.fl_str_mv 2220-9352
dc.identifier.nrb.pt_BR.fl_str_mv 001104860
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dc.language.iso.fl_str_mv eng
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dc.relation.ispartof.pt_BR.fl_str_mv Journal of Governance and Regulation. Sumy, Ukraine. Vol. 8, no. 1 (2019), p. 75-81
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