Trends in Interlocking Directorships: An International Comparison

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Abstract
This paper critically examines Gustavsen's argument that the extent of interlocking in company directorships is dependent on the level of organization in the corporate environment. Gustavsen's analysis of Nor way and Sweden is compared with time-series data for Scotland from 1906 to 1973. The trend in the figures seems to contradict Gustavsen's argu ment, since the overall level of interlocking has decreased whilst the complexity of the environment has increased. It is argued, however, that interlocking is not the only index of corporate interconnection and that a full analysis must also take account of trends in company mergers and acquisitions.

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