Geography versus topology in the European Ownership Network

Vitali, Stefania; Battiston, Stefano

doi:10.1088/1367-2630/13/6/063021

Cited by 24 publications

(21 citation statements)

References 34 publications

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“…The detailed structure of the shareholding and interlocking network layers is shown in Fig A in S1 File. One can see that companies tend to be clustered by countries in line with previous work on ownership and geography [18]. …”

Section: Resultssupporting

confidence: 81%

The Multiplex Network of EU Lobby Organizations

Zeng

Battiston

2016

PLoS ONE

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The practice of lobbying in the interest of economic or social groups plays an important role in the policy making process of most economies. While no data is available at this stage to examine the success of lobbies in exerting influence on specific policy issues, we perform a first systematic multi-layer network analysis of a large lobby registry. Here we focus on the domains of finance and climate and we combine information on affiliation and client relations from the EU transparency register with information about shareholding and interlocking directorates of firms. We find that the network centrality of lobby organizations has no simple relation with their lobbying budget. Moreover, different layers of the multiplex network provide complementary information to characterize organizations’ potential influence. At the aggregate level, it appears that while the domains of finance and climate are separated on the layer of affiliation relations, they become intertwined when economic relations are considered. Because groups of interest differ not only in their budget and network centrality but also in terms of their internal cohesiveness, drawing a map of both connections across and within groups is a precondition to better understand the dynamics of influence on policy making and the forces at play.

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Section: Resultssupporting

confidence: 81%

The Multiplex Network of EU Lobby Organizations

Zeng

Battiston

2016

PLoS ONE

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“…Distance is cumbersome for attending board meetings but reflects cultural differences as well. In this the board network is different from European ownership network where the structure is only partially explained by geography [40]. While geography does play a role, we find no evidence that the network clusters around particular economic sectors.…”

Section: Discussioncontrasting

confidence: 82%

The Community Structure of the European Network of Interlocking Directorates 2005–2010

2013

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The boards of directors at large European companies overlap with each other to a sizable extent both within and across national borders. This could have important economic, political and management consequences. In this work we study in detail the topological structure of the networks that arise from this phenomenon. Using a comprehensive information database, we reconstruct the implicit networks of shared directorates among the top 300 European firms in 2005 and 2010, and suggest a number of novel ways to explore the trans-nationality of such business elite networks. Powerful community detection heuristics indicate that geography still plays an important role: there exist clear communities and they have a distinct national character. Nonetheless, from 2005 to 2010 we observe a densification of the boards interlocks network and a larger transnational orientation in its communities. Together with central actors and assortativity analyses, we provide statistical evidence that, at the level of corporate governance, Europe is getting closer.

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“…Economics provides a rich set of networks to consider, in which the nodes can be many things. Examples that have already received considerable attention include interbank lending [62,23,22,63,61,45], international trade [58,57], corporate ownership [101,15,17,100], and input-output relationships in production [31]. There remain many more relationships to be studied.…”

Section: Modelling the Economy As A Complex Evolving Networkmentioning

confidence: 99%

A complex systems approach to constructing better models for managing financial markets and the economy

Farmer

Gallegati

Hommes

et al. 2012

Eur. Phys. J. Spec. Top.

123

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Abstract. We outline a vision for an ambitious program to understand the economy and financial markets as a complex evolving system of coupled networks of interacting agents. This is a completely different vision from that currently used in most economic models. This view implies new challenges and opportunities for policy and managing economic crises. The dynamics of such models inherently involve sudden and sometimes dramatic changes of state. Further, the tools and approaches we use emphasize the analysis of crises rather than of calm periods. In this they respond directly to the calls of Governors Bernanke and Trichet for new approaches to macroeconomic modelling. PACS. PACS-key discribing text of that key -PACS-key discribing text of that key Contents

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Geography versus topology in the European Ownership Network

Cited by 24 publications

References 34 publications

The Multiplex Network of EU Lobby Organizations

The Multiplex Network of EU Lobby Organizations

The Community Structure of the European Network of Interlocking Directorates 2005–2010

A complex systems approach to constructing better models for managing financial markets and the economy

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