Corporate boards, interorganizational ties and profitability: the case of Japan

Matthias Raddant, Hiroshi Takahashi

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)


We analyze the ties between 4000 Japanese corporations in the time period from 2004 until 2013. We combine data about the board composition with ownership relationships and indicators of corporate profitability. The board network exhibits some clustering, which can partly be explained by ownership relations, and a tendency to form ties to other corporations from the same sector. Connectivity in the board network (corporate board interlocks) and ownership network (shareholdings) does have an influence profitability. Firms that are linked to peers with above average profitability are more profitable than firms in other relationships. Hence, network effects partly explain why board interlocks and ownership ties are not always beneficial.

Original languageEnglish
Pages (from-to)1365-1406
Number of pages42
JournalEmpirical Economics
Issue number3
Publication statusPublished - 2022 Mar


  • Corporate board interlock
  • Executive survival
  • Firm networks
  • Firm performance

ASJC Scopus subject areas

  • Statistics and Probability
  • Mathematics (miscellaneous)
  • Social Sciences (miscellaneous)
  • Economics and Econometrics


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