The Complex Interlocking Director Network In Chinese Stock Markets

We try to investigate the phenomena of interlocking directorate of the listed companies in Chinese stock markets from the perspective of complex networks based on a detailed data set of the board members on the listed companies from1992to2012.By constructing the "director-company" bipartite network, our findings are shown in the follows:(1) Both of the absolute number and relative number of interlocking directorate in-crease from1992to2012.(2) The increasing of the number of interlocking directorate leads to the formation of a giant network of "director-company" network, which is uncovered through the comparison of the bipartite network in1992and bipartite network in1998.(3) The percent-age of the directors in the largest component increases from1992to2004and stay in a stale state after2004. The percentage of the directors in the second largest component contains a very small fraction in the system.(3) The director nodes exhibit power-law degree distribution, which indicates that a small number of directors connect to several companies and a large num-ber of directors link to only one company. The power law exponents are found to decrease with the evolution of the time.(4) Through analyzing the director network, we find that the degree distribution gradually turn to power-law from1992to2011. And the power-law exponents also decrease with the increasing of the years.