Corporate elite are the owners, directors and senior executives of the largest of a nation's business corporations. Corporate elites exercise a major influence on the decisions and policies of large corporations and also nations. Corporate elites from core countries form a powerful group among the global corporate elite. The world of the corporate elite has been overlooked in the finance literature. Corporatocracy is seen in situations when corporate elite are excessively paid and free trade agreements are signed.
The huge salaries and the potential wealth through stock options, has given rise to the term corporate elite or corporate class. Corporate elites like Chief Executive Officers, and Chief Operating Officers are among the financially best compensated occupations in the United States.
Social background has no significant effect on corporate elite stratification. Social origin does provide differential access to the corporate elite, but no additional advantages once in the corporate elite. Ideological conflicts exist among members of the transnational corporate elite in a large multinational corporation. Corporate Elite and Comprador Elite play an important role in Corporate Culture.
Managerial Ideologies Dividing the Corporate Elite: A process study of the rise and fall of a counter-ideology. Jacqueline Mees-Buss, Catherine Welch. Abstract: In this paper we refocus attention on managerial ideology. We analyze the dynamics of an ideological conflict among members of the transnational corporate elite in a large multinational corporation. We identify the discursive, cognitive and social mechanisms driving ideological change and provide a model for ideological contestation inside the organization. Such multidisciplinary explanations have been missing in extant literature, which has either focused on more reductionist explanations of ideological change or on how ideological hegemony is maintained.
The global corporate elite after the financial crisis: evidence from the transnational network of interlocking directorates - Eelke M. Heemekerk, Meindert Fennema, William K. Carroll. Abstract: What impact did the recent financial crisis have on the corporate elite's international network? We find that corporate elites have not retrenched into their national business communities: the transnational network increased in relative importance and remained largely intact during the crisis lasting from 2006 to 2013. The network has become less hierarchical. As a group, the corporate elite has become more transnational in character. We see this as indicative of a recomposition of the corporate elite from a national to a transnational orientation.
The Corporate Elite and the Architecture of Climate Change Denial: A Network Analysis of Carbon Capital's Reach into Civil Society - William Carroll Nicholas Graham Michael K. Lang Zoë Yunker Kevin D. McCartney. 05 July 2018. Abstract: This study employs social network analysis to map the Canadian network of carbon-capital corporations whose boards interlock with key knowledge-producing civil society organizations. We find a pervasive pattern of carbon-sector reach into these domains of civil society, forming a single, connected network that is centered in Alberta yet linked to the central-Canadian corporate elite through hegemonic capitalist organizations, including major financial companies.
Does the Rolodex Matter? Corporate Elite's Small World and the Effectiveness of Boards of Directors. Cross-directorships effectively protect CEOs against being fired for poor performance and enhance their opportunities to obtain more directorships following good performance. Government ownership and political cycles also impact the effectiveness of board monitoring. - Bang Dang Nguyen.
Power Without Efficacy: The Decline of the American Corporate Elite - Mizruchi, Mark. Abstract: I argue that the organization of the American corporate elite underwent a transformation between the early 1970s and the turn of the twenty-first century. For the first three decades after World War II, the corporate elite adopted a pragmatic, accommodationist approach, in which it accepted the reality of a activist state, a strong labor movement, and a financial community that oversaw and mediated disputes across industries. The corporate elite has become fragmented, narrowly self-interested, and unable to act collectively to address the problems of American society in a way that its forerunners did in previous years.
Elite, the New Conservative Policy Network, and Reaganomics
J. Craig Jenkins, Craig M. Eckert.
Abstract: Recent analysts have traced the rise of Reaganomics to the rise of cowboy capitalists and to a "right turn" of the corporate elite. Reaganomics program and its insertion into the national political agenda, showing that it stemmed from policy-planning efforts of a new conservative network of policy organizations. The corporate elite remains the hegemonic group within the capitalist class, working in coalition with a newly mobilized cowboy stratum.
Changing Pathways to Corporate Elite: Education, Social Background, and Elite Stratification - Snellman, Kaisa. Abstract: I examine patterns of educational and social background of the corporate elite over time as well as the effects of social and educational background on stratification within the corporate elite. I ask: Are some fields more likely pathways to the inner circle membership than others? Is there educational stratification by field of study? I investigate associations between education, social background, and inner circle membership using data on members of the Finnish corporate elite in 1980, 1992, and 2004. I find that the association between social background and corporate elite changes over time. The proportion of Swedish-speaking corporate elite members plummets over time, while the share of foreign directors soars. Moreover, I find significant changes in the educational background of the corporate elite.
Is the Corporate Elite Fractured, or is there Continuing Corporate Dominance? Two Contrasting Views. - G. William Domhoff, University of California, Santa Cruz. Abstract: The analysis asserts that the corporate elite has fractured and fragmented in recent decades and no longer has the unity to have a collective impact on public policy. The article analyzes the fractured-elite theory's three claims about the postwar era: an activist government constrained the corporate elite, the union movement negotiated a capital-labor accord; and bank boards created policy cohesion among corporations.
Corporate elite characteristics and firm's internationalization: CEO-level and
TMT-level roles -
Yi-Long Jaw, Wen-Ting Lin.
Abstract: This study attempts resolution of certain ambiguities of the corporate
elite, Chief Executive Officer and Top Management Team, effect on corporate
internationalization strategy. Empirical-evidence
indicate that Chief Executive Officer and Top Management Team characteristics
show a nonlinear relationship, based on 165 samples of Taiwanese firms operating
in a technologically intensive industry.
Surveying the Corporate Elite: Theoretical and Practical Guidance on Improving Response Rates and Response Quality in Top Management Survey Questionnaires - Michael Bednar, James D. Westphal. Abstract: This article provides an empirical examination of factors that determine the likelihood and quality of response to top management surveys. More generally, we advance a theoretical perspective on survey response rooted in social influence theory that should help researchers make better choices about the design of their survey questionnaires.
The Fracturing of the American Corporate Elite. - Mark S. Mizruchi. In the aftermath of a financial crisis marked by bank-friendly bailouts and loosening campaign finance restrictions, a chorus of critics warns that business leaders have too much influence over American politics. Mark Mizruchi worries about the ways they exert too little. The Fracturing of the American Corporate Elite advances the surprising argument that American CEOs, seemingly more powerful today than ever, have abrogated the key leadership role they once played in addressing national challenges, with grave consequences for American society. Today's corporate elite is a fragmented, ineffectual group that is unwilling to tackle the big issues, despite unprecedented wealth and political clout.
The Financial Corporate Elite -The New World Government. - Bill Mari. Ownership is sovereignty. The owners of the means of production in effect dominate those people who depend on them for survival and for maintaining and enhancing their quality of life. In the face of the organized national and transnational corporate elite, the owners of the means of production, the citizens of supposedly independent nations lose control over their lives. The Bretton Woods institutions, the world Bank and the IMF , have been directly involved in Financial economic development in the emerging economies. This role will more and more be taken over by the global capital markets. Today, the international supremacy of financial capital and the global corporate elite is almost complete.
Climate capitalism and the global corporate elite network. Jean Philippe Sapinski. Abstract: I use social network analysis to assess the potential for climate capitalism, as a project of a section of the corporate elite, to replace the current carboniferous capitalist regime. Corporate-funded climate and environmental policy groups constitute major venues for the corporate elite to assemble and plan their response to the climate crisis. I first find that certain climate and environmental policy groups are centrally located among the global intercorporate network, and thus well positioned to promote climate capitalism among the corporate elite.
The corporate elite and the politics of corporate control. Davis, Gerald. (1994). Current Perspectives in Social Theory.