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《China Industrial Economy》 2006-01
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Theories of Interlocking Directorates:An Empirical Testing Based on the Listed Companies of China

LU Chang-chong1,CHEN Shi-hua1,Joachim Schwalbach2(1.School of Business Administration,Dongbei University of Finance and Economics,Dalian 116025,China;2.School of Economics and Management,Humboldt-University Berlin,BerlinD-10178,Germany)  
Firstly,the authors summarize the four typical theories of interlocking directorates,which have been covered up and scattered in historical literatures,and then propose four hypotheses respectively on the reciprocity theory,resources dependency theory,finance control theory and the management control theory.Secondly,they specify the elected samples,the sources of data and the variables concerned.Thirdly,the hypotheses are tested.The empirical results seem to consist with the resources dependency theory,and partly with the finance control theory and the management control theory.These results imply that the existing theories are not competent enough for explaining the interlocking directorates in the listed companies of China and further research is needed.Finally,the conclusion comes.
【Fund】: 国家自然科学基金项目“乔家字号:一个蕴含现代企业胚芽的经济组织(”批准号7012049);; 教育部人文社会科学“十五”规划项目“身股制:一项挑战西方经典企业理论的制度安排(”批准号01JA630001)
【CateGory Index】: F224
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