The money center cannot hold: Commercial banks in the U.S. system of corporate governance

Administrative Science Quarterly

Volumn 44, Issue 2, 1999, Pages 215-239

  Davis, Gerald F ^a   Mizruchi, Mark S ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0033147919     PISSN: 00018392     EISSN: None     Source Type: Journal    
DOI: 10.2307/2666995     Document Type: Article

References (71)

1. Aldrich, Howard E. 1979 Organizations and Environments. Englewood Cliffs, NJ: Prentice-Hall.
2. Allen, Michael P. 1974 "The structure of interorganizational elite cooptation: Interlocking corporate directorates." American Sociological Review, 39: 393-406.
3. 1978 "Economic interest groups and the corporate elite structure." Social Science Quarterly, 58: 597-615.
4. Barth, James R., R. Dan Brumbaugh, Jr., and Robert E. Litan 1992 The Future of American Banking. Armonk, NY: M. E. Sharpe.
5. Baker, Wayne E. 1990 "Market networks and corporate behavior." American Journal of Sociology, 96: 589-625.
6. Berger, Allen N., Anil K. Kashyap, and Joseph M. Scalise 1995 "The transformation of the U.S. banking industry: What a long, strange trip it's been." In William C. Brainard and George L. Perry (eds.), Brookings Papers on Economic Activity, 2: 55-201. Washington, DC: Brookings Institution.
7. Berle, Adolph, Jr., and Gardiner C. Means 1932 The Modern Corporation and Private Property. New York: Macmillan.
8. Bonacich, Phillip 1972 "Technique for analyzing overlapping memberships." In Herbert Costner (ed.). Sociological Methodology: 176-185. San Francisco: Jossey-Bass.
9. Brandeis, Louis D. 1914 Other People's Money and How the Bankers Use It. New York: Frederick A. Stokes.
10. Bunting, David 1976 "Corporate interlocking. Part III: Interlocks and return on investment." Directors and Boards 1 (Fall): 4-11.
11. 1983 "Origins of the American corporate network." Social Science History, 7: 129-142.
12. Calomiris, Charles W., and Carlos D. Ramirez 1996 "The role of financial relationships in the history of American corporate finance." Journal of Applied Corporate Finance, 9 (2): 52-73.
13. Curran, John 1997 "GE Capital: Jack Welch's secret weapon." Fortune (November 10): 116-134.
14. Davis, Gerald F. 1991 "Agents without principles? The spread of the poison pill through the intercorporate network." Administrative Science Quarterly, 36: 583-613.
15. 1994 "The corporate elite and the politics of corporate control." In Christopher Prendergast and J. David Knottnerus (eds.), Current Perspectives in Social Theory, Supplement, 1: 215-238. Greenwich, CT: JAI Press.
16. Davis, Gerald F., and Henrich R. Greve 1997 "Corporate elite networks and governance changes in the 1980s." American Journal of Sociology, 103: 1-37.
17. Davis, Gerald F., and Tracy A. Thompson 1994 "A social movement perspective on corporate control." Administrative Science Quarterly, 39: 141-173.
18. Dooley, Peter C. 1969 "The interlocking directorate." American Economic Review, 59: 314-323.
19. Easterbrook, Frank H., and Daniel R. Fischel 1991 The Economic Structure of Corporate Law. Cambridge, MA: Harvard University Press.
20. Fama, Eugene, and Michael C. Jensen 1983 "Separation of ownership and control." Journal of Law and Economics, 26: 301-325.
21. Federal Deposit Insurance Corporation 1996 FDIC Historical Statistics on Banking, 1934-1996. Washington, DC: FDIC.
22. Fligstein, Neil 1990 The Transformation of Corporate Control. Cambridge, MA: Harvard University Press.
23. Freeman, Linton C. 1979 "Centrality in communication networks: Conceptual clarification." Social Networks, 2: 119-141.
24. Friedland, Roger, and Donald Palmer 1994 "Space, corporation, and class: Toward a grounded theory. In Roger Friedland and Deirdre Boden (eds.), NowHere: Space, Time, and Modernity: 287-334. Berkeley: University of California Press.
25. Galbraith, John Kenneth 1967 The New Industrial State. Boston: Houghton Mifflin.
26. Gilson, Ronald J., and Mark J. Roe 1993 "Understanding the Japanese keiretsu: Overlaps between corporate governance and industrial organization." Yale Law Journal, 102: 871-906.
27. Granovetter, Mark 1995 "Coase revisited: Business groups in the modern economy." Industrial and Corporate Change, 4: 93-130.
28. Haunschild, Pamela 1993 "Interorganizational imitation: The impact of interlocks on corporate acquisition activity." Administrative Science Quarterly, 38: 564-592.
29. James, Christopher, and Joel Houston 1996 "Evolution or extinction: Where are banks headed?" Journal of Applied Corporate Finance, 9 (2): 8-23.
30. Jensen, Michael C., and William H. Meckling 1976 "Theory of the firm: Managerial behavior, agency cost and ownership structure." Journal of Financial Economics, 3: 305-360.
31. Kaufman, George G. 1993 "The diminishing role of commercial banking in the U.S. economy." In Lawrence H. White (ed.), The Crisis in American Banking: 139-159. New York: New York University Press.
32. Kotz, David 1978 Bank Control of Large Corporations in the United States. Berkeley: University of California Press.
33. Lang, James R., and Daniel E. Lockhart 1990 "Increased environmental uncertainty and changes in board linkage patterns." Academy of Management Journal, 33: 106-128.
34. Lash, Scott, and John Urry 1987 The End of Organized Capitalism. Oxford: Polity Press.
35. Levine, Joel 1977 "The theory of bank control." Comment on Mariolis' test of the theory." Social Science Quarterly, 58: 506-510.
36. Manne, Henry G. 1965 "Mergers and the market for corporate control." Journal of Political Economy, 73: 110-120.
37. Mariolis, Peter 1975 "Interlocking directorates and control of corporations: The theory of bank control." Social Science Quarterly, 56: 425-439.
38. 1977 "Type of corporation, size of firm, and interlocking directorates: A reply to Levine." Social Science Quarterly, 58: 511-513.
39. Mariolis, Peter, and Maria H. Jones 1982 "Centrality in corporate interlock networks: Reliability and stability." Administrative Science Quarterly, 27: 571-584.
40. Mayer, Martin 1997 The Bankers: The Next Generation. New York: Truman Talley/Dutton.
41. Mintz, Beth, and Michael Schwartz 1985 The Power Structure of American Business. Chicago: University of Chicago Press.
42. Mizruchi, Mark S. 1982 The American Corporate Network, 1904-1974. Beverly Hills, CA: Sage.
43. 1992 The Structure of Corporate Political Action: Interfirm Relations and Their Consequences. Cambridge, MA: Harvard University Press.
44. 1996 "What do interlocks do? An analysis, critique, and assessment of research on interlocking directorates." Annual Review of Sociology, 22: 271-298. Palo Alto, CA: Annual Reviews.
45. Mizruchi, Mark S., and David Bunting 1981 "Influence in corporate networks: An examination of four measures." Administrative Science Quarterly, 26: 475-489.
46. Mizruchi, Mark S., Blyden B. Potts, and David W. Allison 1993 "Interlocking directorates and business transactions: New evidence on an old question." Paper presented at the Annual Meeting of the American Sociological Association, Miami Beach.
47. Mizruchi, Mark S., and Linda Brewster Stearns 1988 "A longitudinal study of the formation of interlocking directorates." Administrative Science Quarterly, 33: 194-210.
48. 1994a "Money, banking, and financial markets." In Neil J. Smelser and Richard Swedberg (eds.), Handbook of Economic Sociology: 313-341. Princeton: Princeton University Press.
49. 1994b "A longitudinal study of borrowing by large American corporations." Administrative Science Quarterly, 39: 118-140.
50. Neiva, Elizabeth Maciver 1996 "The current state of American corporate governance." Unpublished paper, Institutional Investor Project, Columbia University Law School.
51. O'Reilly, Charles A., III, Brian G. Main, and Graef S. Crystal 1988 "CEO compensation as tournament and social comparison: A tale of two theories." Administrative Science Quarterly, 33: 257-274.
52. Palmer, Donald 1983 "Broken ties: Interlocking directorates and intercorporate coordination." Administrative Science Quarterly, 28: 40-55.
53. Palmer, Donald, Roger Friedland, and Jitendra Singh 1986 "The ties that bind: Organizational and class bases of stability in a corporate interlock network." American Sociological Review, 51: 781-796.
54. Pennings, Johannes M. 1980 Interlocking Directorates. San Francisco: Jossey-Bass.
55. Pfeffer, Jeffrey 1972 "Size and composition of corporate boards of directors: The organization and its environment." Administrative Science Quarterly, 17: 218-228.
56. Pfeffer, Jeffrey, and Gerald R. Salancik 1978 The External Control of Organizations: A Resource Dependence Perspective. New York: Harper & Row.
57. Ratcliff, Richard E. 1980 "Banks and corporate lending: An analysis of the impact of the internal structure of the capitalist class on the lending behavior of banks." American Sociological Review, 45: 553-570.
58. Richardson, R. Jack 1987 "Directorship interlocks and corporate profitability." Administrative Science Quarterly, 32: 367-386.
59. Roe, Mark J. 1994 Strong Managers, Weak Owners: The Political Roots of American Corporate Finance. Princeton: Princeton University Press.
60. Rogers, David 1993 The Future of American Banking: Managing for Change. New York: McGraw-Hill.
61. Roy, William G. 1983 "The unfolding of the interlocking directorate structure of the United States." American Sociological Review, 48: 248-257.
62. Scott, W. Richard 1992 Organizations: Rational, Natural, and Open Systems, 3rd ed. Englewood Cliffs, NJ: Prentice-Hall.
63. Stearns, Linda Brewster 1986 "Capital market effects on external control of corporations." Theory and Society, 15: 47-75.
64. Stearns, Linda Brewster, and Mark S. Mizruchi 1986 "Broken-tie reconstitution and the functions of interorganizational interlocks: A reexamination." Administrative Science Quarterly, 31: 522-538.
65. 1993 "Board composition and corporate financing: The impact of financial institution representation on borrowing." Academy of Management Journal, 36: 603-618.
66. Stokman, Frans N., Jelle Van der Knoop, and Frans W. Wasseur 1988 "Interlocks in the Netherlands: Stability and careers in the period 1960-1980." Social Networks, 10: 183-208.
67. Useem, Michael 1984 The Inner Circle. New York: Oxford University Press.
68. Wall Street Journal 1993 "The end of banking as we know it - losing ground: Banks' declining role in economy worries Fed, may hurt firms." July 9: A1.
69. 1996 "Surge in investments changes U.S. economy." June 10: A1.
70. Zajac, Edward J. 1988 "Interlocking directorates as an interorganizational strategy: A test of critical assumptions." Academy of Management Journal, 31: 428-438.
71. Zysman, John 1983 Governments, Markets, and Growth: Financial Systems and the Politics of Industrial Change. Ithaca, NY: Cornell University Press.