Are Latin America's corporate elites transnationally interconnected? A network analysis of interlocking directorates
Published online on December 10, 2014
Abstract
Conflicting perspectives appear when thinking about the emergence of a cohesive transnational corporate network in Latin America. On the one hand, regional political integration, foreign investment growth, increased cross‐border mergers and acquisitions, and cultural and linguistic homogeneity may have fostered transnational networks among Latin America's corporate elites. On the other hand, domestic‐based business groups, family control and trade orientation to the USA may have hindered the emergence of a cohesive transnational corporate network in Latin America. Based on a network analysis of interlocking directorates among the 300 largest corporations in Latin America, I ask whether the region's corporate elites interconnect at the transnational level and form a cohesive transnational corporate network. I found few transnational interlocks, a lack of cohesion in the transnational corporate network and no regional leaders. Corporate elites in Latin America are not transnationally interconnected and so a cohesive transnational corporate network has not emerged. I discuss implications and avenues of future research.