AAA

Interlocking directorates from the perspective of the resource dependency theory

Marlena Grabowska, Iwona Otola

Abstract

The purpose of this paper is to identify the institutional approach to interlocking directorates from the perspective of resource dependency theory. This problem is being considered in the context of connections among joint stock companies through the members of their supervisory boards. The term interlocking directorates refers to a situation, where a given person holds a position in the management and control bodies of at least two different companies. The reason for undertaking this subject was one of the assumptions of the resource dependency theory, which states that an effective method of dealing with uncertainty and establishing the base for building a competitive advantage is the acquisition and development of unique resources and skills in the enterprise. An empirical pilot study on the phenomenon of interlocking directorates was carried out among members of the management board and supervisory boards of joint-stock companies. It aimed at examining the issues related to the resource dependency theory such as increasing access to resources, monitoring the environment and building credibility. Another aspect of the resource dependency theory covered by the study was the destructive influence of interlocking directorates on the functioning of connected companies. Research results confirmed the importance of interlocking directorates as a factor that supports building the company's credibility, monitoring its surroundings and gaining increased access to resources.

Keywords: resource dependency theory, interlocking directorates, board of directors, supervisory board, joint stock companies

References

  • Adamska, A., Mesjasz, C., Urbanek, P. (2016). Teorie ładu korporacyjnego. Władanie i kontrola w złożonym świecie. Łódź: Wydawnictwo Uniwersytetu Łódzkiego.
  • Aluchna, M. (2014). Nadzór właścicielski. W: M. Jarosiński, S. Winch (red.), Zarządzanie podmiotami leczniczymi przekształcanymi w spółki prawa handlowego (s. 29-42), Warszawa: Oficyna Wydawnicza SGH.
  • Bourdieu, P. (1986). The forms of capital. W: J. Richardson (red.), Handbook of Theory and Research for the Sociology of Education (s. 241-258). New York: Greenwood Press.
  • Davis, G.F., Cobb, J.A. (2010). Resource dependence theory: Past and future. W: F. Dobbin, C.B. Schoonhoven (red.), Stanford's organization theory renaissance, 1970-2000 (s. 21-42). Bingley: Emerald Group Publishing Limited.
  • Grabowska, M. (2016). Sytuacyjne konteksty ładu korporacyjnego przedsiębiorstw. Częstochowa: Wydawnictwo Wydziału Zarządzania Politechniki Częstochowskiej.
  • Hillman, A.J., Withers, M.C., Collins, B.J. (2009). Resource dependence theory: A review. Journal of Management, 35(6), 1404-1427.
  • Hung, H. (1998). A typology of the theories of the roles of governing boards. Scholarly Research and Theory Papers, 6(2), 101-111.
  • Jeżak, J. (2010). Ład korporacyjny. Doświadczenia światowe oraz kierunki rozwoju. Warszawa: Wydawnictwo C.H. Beck.
  • Mizruchi, M.S. (1996). What Do Interlocks Do? An Analysis, Critique, and Assessment of Research on Interlocking Directorates. Annual Review of Sociology, 22(1), 271-298.
  • Narayana, B.V.L. (2012). Resource Dependency Theory: Renaissance and Extensions - A Conceptual Basis. SSRN Electronic Journal, 3, 1-18. Pobrane z: https://www.researchgate.net/publication/256013874_Resource_Dependency_Theory_Renaissance_and_Extensions_-_A_Conceptual_Basis
  • Pfeffer, J., Salancik, G.R. (2003). The external control of organizations: A resource dependence perspective. Stanford: Stanford University Press.
  • Postuła, I. (2013). Nadzór korporacyjny w spółkach Skarbu Państwa. Warszawa: Wolters Kluwer Polska SA.
  • Rudolf, S., Janusz, T., Stos, D., Urbanek, P. (2002). Efektywny nadzór korporacyjny. Warszawa: Polskie Wydawnictwo Ekonomiczne.
  • Sankowska, A., Siudak, D. (2015). Miary analizy sieciowej w ocenie strategii interlockingu - powiązania rad dyrektorów. Nauki o Finansach 1(22), 120-135.
  • Schoorman, F.D., Bazerman, M.H., Atkin, R.S. (1981). Interlocking Directorates: A Strategy for Reducing Environmental Uncertainty. The Academy of Management Review, 6, 243-251.
  • Siudak, D. (2016). Segregacja i spójność w sieci powiązań rad dyrektorów (interlocking directorates). Finanse, Rynki Finansowe, Ubezpieczenia, 1(79), 617-627.
  • Szalacha-Jarmużek, J. (2012). Interlocing directorates jako instytucja nieformalna zwiększająca efektywność działań korporacyjnych. Prakseologia, 152, 51-68.
  • Szalacha-Jarmużek, J. (2015). Indywidualne korzyści, organizacyjne straty? Lojalność a zjawisko krzyżowania się zarządów i rad nadzorczych w perspektywie praktyków biznesu. Prakseologia, 157(1), 95-119.
  • Useem, M. (1984). The Inner Circle: Large Corporations and the Rise of Business Political Activity in the U.S. and U.K. New York - Oxford: Oxford University Press.
  • Yang, Y., Cai, N. (2011). Interlocking Directorate and Firm's Diversification Strategy: Perspective of Strategy Learning. W: Innovative Computing and Information (s. 87-94). Wuhan: Minli Dai. Pobrane z: https://link.springer.com/chapter/10.1007/978-3-642-23998-4_14
AUTHORS

Marlena Grabowska

Iwona Otola

About the article

DOI: https://doi.org/10.15219/em78.1403

The article is in the printed version on pages 80-86.

pdf read the article (Polish)

How to cite

Grabowska, M. i Otola, I. (2019). Interlocking directorates z perspektywy teorii uzależnienia zasobowego. e-mentor, 1(78), 80-86. DOI: 10.15219/em80.1403