Item request has been placed! ×
Item request cannot be made. ×
loading  Processing Request

Institutional Transition and Market Networks: An Historical Investigation of Interlocking Directorates of Big Businesses in Taiwan, 1962-2003. (English)

Item request has been placed! ×
Item request cannot be made. ×
loading   Processing Request
  • Additional Information
    • Subject Terms:
    • Abstract:
      This study outlines the historical contours of market networks in Taiwan from an institutional perspective. By utilizing comprehensive historical data on the boards of directors for all listed private firms and state-owned enterprises from 1962 to 2003, this study investigates the extent to which macro-structural factors, such as market growth, state transformation, and cultural practices of Chinese familism, have driven the changing dynamics of interlocking directorates in Taiwan. In the early industrializing period, director networks in Taiwan resembled the corporatist structure of oligopolistic cartels, only on a smaller scale, when state enterprises played an important role and the overall integration of networks was relatively high. Although the changing route of director networks seemed to converge with patterns of advanced economies, the Taiwanese market still holds a strong local flavor in its network structure. In particular, the proportions of multiple relationships of director networks are exceptionally high and have persisted for almost half a century. The findings of this study indicate that the market network structure is the result of reinforcing influences between the legal regulation of corporate governance, which emphasizes economic security, and cultural practices of familism. After a transition period in the late-1980s, the influence of state enterprises on intercorporate networks declined enormously, mainly owing to the private sector's continuous growth and a series of deregulations of economic policies that loosened the control on private businesses' horizontal expansion. The localized clustering dynamics of familism, however, has since disintegrated the network structure; extraordinarily low centralization and a high proportion of multiple ties have become trademarks of Taiwanese corporate networks. Considering the existing legal regulation of corporate governance and the prevalence of cultural practices associated with familism, this study foresees the resilience of the Taiwanese market's current network structure. [ABSTRACT FROM AUTHOR]
    • Abstract:
      Copyright of Taiwanese Sociology is the property of Taiwanese Sociology and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)