Network Analysis of Indian Corporate Interlocks
摘要
Corporate interlock networks have received significant attention, especially in developed economies such as the USA, Japan, Germany, etc. However, their significance in developing Asian countries, where corporate governance regulations are relatively lax, remains crucial. Especially concerning India, its intricate history and diverse heritage contribute to a distinctive and intricate corporate environment. While numerous studies have attempted to address this, they often suffer from limited data scope, typically focusing on a few hundred firms. In this study, we analyze a bipartite network comprising 4601 Indian firms and 25569 directors. Our analysis explores the cohesion among key actors and fragmentation of the market across sectors. We observed that companies with large board sizes tend to form an elite structure, maintaining dense connections among themselves. In contrast, we did not observe such an elite structure among the directors. The study also reveals distinct characteristics of the manufacturing, agriculture, and power sectors within this intricate network.