Unearthing the intellectual structure of board interlocks research: a bibliometric analysis

Abstract

Purpose One of the most active areas of study in the field of corporate governance, board interlocks is a phenomenon that is both pervasive and perplexing. This paper aims to examine and integrate the empirical research on board interlocks to fill the void left by the lack of a recent review. Design/methodology/approach The bibliometric analysis methodology, which emphasizes methodological rigor and transparency, was used to analyze the board interlocks literature. Eighty publications published since 2000 were chosen as the subject of this research because they reveal the key contributions to the field of board interlocks. Additionally, their clustering pattern is also identified. Findings The authors classify various studies conducted on board interlocks into three clusters: “Social Capitalization”, “Antecedents and Outcomes” and “Corporate Governance”. Originality/value This literature review helps better comprehend the board interlocks literature by pointing out several areas of study that, if pursued, would add to the existing body of knowledge and open future research directions.

Interlocking boards and firm outcomes: a review

“…There have been several important reviews on the general theme of interlocking boards in recent years. The most recent include Dhingra and Dwivedi (2023), who examined 80 of the most cited articles on the general theme of board interlocks. This study confirms the lack of consensus on the benefits and drawbacks of interlocking directorships and the concentration of research on interlocks in North American and Western European settings.…”

Interlocking directorships and firm performance: the role of board diversity

“…Another possible reason could be the inadequate composition of boards that lacks proper board diversity, which is consistent with the tenets of agency theory (Eisenhardt, 1989). For instance, the study by Dhingra and Dwivedi (2024) highlights the importance of broadening research beyond Anglo-Saxon countries and underscores avenues to incorporate board diversity. Nonetheless, the extant literature is in abeyance to illustrate the influence of board diversity and interlocking directorates in promoting firm performance and corporate governance measures, especially in emerging economies.…”