A Historical Review of Interlocking Directorates in Canada: A Comparison of the 1912 and 2012 Networks

The purpose of this paper is to apply research methods pioneered in the historical analysis of the more extensive American interlock network to a Canadian business context. Specifically, a macro structural approach compares boards of directors of Canadian companies from the years 1912 and 2012. Our findings show that well-connected, multi-boarded directors have lost their influence over the study period. These changes have had important consequences for the aggregate structure of the network. After 100 years the network became more decentralized with the most important companies in 1912 playing a more central role when compared to those in 2012. Finally, finance, insurance and real estate sectors as well as the energy sector became more central to the network over time.

Keywords: interlocking directorates, geography, Canada, board of directors.