British corporate networks, 1976–2010: Extending the study of finance–industry relationships

Abstract

Using an extensive and unique data set that has been created to record the composition of the boards of directors of the top 250 British firms between 1904 and 2010, this article builds upon a previous study by the authors on the corporate network to 1976 by extending the study to 2010. The analysis revolves around three key observations: the nature and depth of the corporate network; the distinct stages in corporate connectivity between 1976 and 2010; and the 1980s watershed in the relationship between financial and other sectors, following which financial institutions withdrew from the corporate network. The article concludes with an analysis of how the data set has changed our perceptions of British corporate networks, wider changes in British business, and a discussion of implications for future research.