Munich Personal RePEc Archive

Interlocking directorates as a thrust substitute: The case of the Italian non-life insurance industry

Carbonai, Davide and Di Bartolomeo, Giovanni (2006): Interlocking directorates as a thrust substitute: The case of the Italian non-life insurance industry.

[img]
Preview
PDF
MPRA_paper_4420.pdf

Download (354Kb) | Preview

Abstract

This paper investigates the market structure of the insurance business by analyzing the (interlock) linkages among companies created by their directors. We focus on the non-life business since this is a sector relatively closed with respect to the competition with other financial activities; an absence of industry competition cannot thus be compensated by other agents. We apply the graph theory to describe the network and the principal component analysis to summarize information and verify the correlation between direct interlocking and companies’ market shares.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.