Interlocks or Ownership: New Zealand Boardroom Power

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Title Interlocks or Ownership: New Zealand Boardroom Power
Author Murray, Georgina
Journal Name New Zealand Sociology
Editor Mike Lloyd
Year Published 2001
Place of publication New Zealand
Publisher School of social and cultural studies, Victoria University of Wellington
Abstract Interlocks - so what do they add to an understanding of the power of the boardroom? Here it is argued that the sociological study of interlocks (that is, the links created by a director who is on the board of more than one company or organization) will reveal some but not all dimensions of corporate power. The study of directional interlocks (using only board members from primary organizational positions) will reveal the following traceries of power: first, a map showing inter-firm power links; second, the direction of the flow of corporate information. Third, the links will identify which sector (e.g. productive, financial or service) is at the political center of business relations. A case study of New Zealand big business is chosen here to illustrate the centrality of interlocks. It is shown that industrial companies dominate the interlocking network with the most heavily interlocked director being (verified through other sources) class leaders. However, a triangulation of the interlock data with ownership data from annual company reports, shows that ownership of the means of production is still the key to power relations in this context. The ownership of top companies in New Zealand is, primarily, in the hands of a consortium of overseas finance capital.
Peer Reviewed Yes
Published Yes
Publisher URI
Copyright Statement Copyright 2001 New Zealand Sociology. This is the author-manuscript version of this paper. Reproduced in accordance with the copyright policy of the publisher. Please refer to the journal website for access to the definitive, published version.
Volume 16
Issue Number 1
Page from 176
Page to 201
ISSN 0112-921X
Date Accessioned 2002-04-15
Language en_AU
Research Centre Centre for Work, Organisation and Wellbeing
Faculty Faculty of Arts
Subject Sociology and Social Studies of Science and Technology
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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