Interlocking Directorates: The Theoretical Research And Empirical Analysis

Interlocking directorates is an impending project we will confront in our country's academic fields. Some directorate serves on several boards at the same time, namely interlocking directorates. As the empirical research imply, the relationship of interlocking directorates in our country account for 62.9% in the sample set. What's more, it is a common phenomenon that one directorate possesses several positions in directorates, which is based on the certifications the author illuminates in the section of interlocking directorates' definition. In a word, whether viewed from the perspective of organization or interclass, the phenomenon of interlocking directorates is widespread, which laid the foundation for the thesis arguments. Firstly, the thesis enlightens several relative definitions and exposes the origin of interlocking directorates. Secondly, the author summarized dual layer interlocking directorates' theory out of foreign literatures, namely, inter-organization or interclass theory of interlocking directorates. The former, which consists of the reciprocity theory and the resource dependency theory and the finance control theory, serves inter-organization intention. The latter, which consists of the management control theory and the class hegemony theory, serves interclass intention. Thirdly, because of various interpretations on the theory of interlocking directorates, the study on interlocking directorates confronts a challenging task, which is the integration of various theories. Aiming at this, the author constructs a limited rationality theory of interlocking directorates, which can perfectly integrates the various theories of interlocking directorates. Fourthly, the author investigates the listed company of China, the conclusion implies that the phenomenon of Chinese interlocking directorates is characteristic of both widespread or local region. At last, the thesis analyzes the implications of government and enterprise of this research, and point out the limitations and future research.