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Yes, There is a Transnational Business Community
Unformatted Document Text:  2 Yes, There is a Transnational Business Community In a recent article, Carroll and Fennema (2002) find little empirical evidence to support the arguments made by McMichael (2000) Sklair (2001) Robinson (2001) and others, concerning the emergence of a transnational business community. Their conclusions are based on the examination of interlocking directorates in a stratified sample of 176 corporations between 1976 and 1996. Our results, based on an analysis of the Fortune Global 500 firms between 1983 and 1998, suggest otherwise. Two related findings stand out from our analyses. First, there has indeed been a significant growth of transnational integration of boards of directors among the world’s largest corporations over the past twenty years. Second, these firms are much more likely to be integrated internationally than domestically. These results have significant implications for the future of the global economy. We begin this discussion with a comparison of the difference in the samples utilized in these two works, which we believe is the basis for the differing results, and then present evidence supporting our conclusions. Carroll and Fennema’s Sample Carroll and Fennema based their current study on a stratified sample of 176 firms originally constructed by Fennema (1982) in his earlier work on transnational interlocking directorates. Fennema used a disproportionate stratified sample design in his previous analyses to avoid having the sample dominated by US based firms (1982, p. 402), which comprised the majority of large corporations in 1976. As a result, US firms were underrepresented in the sample while corporations from other regions,

Authors: Kentor, Jeffrey. and Jang, Yong Suk.
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Yes, There is a Transnational Business Community
In a recent article, Carroll and Fennema (2002) find little empirical evidence to
support the arguments made by McMichael (2000) Sklair (2001) Robinson (2001) and
others, concerning the emergence of a transnational business community. Their
conclusions are based on the examination of interlocking directorates in a stratified
sample of 176 corporations between 1976 and 1996. Our results, based on an analysis of
the Fortune Global 500 firms between 1983 and 1998, suggest otherwise. Two related
findings stand out from our analyses. First, there has indeed been a significant growth of
transnational integration of boards of directors among the world’s largest corporations
over the past twenty years. Second, these firms are much more likely to be integrated
internationally than domestically. These results have significant implications for the
future of the global economy.
We begin this discussion with a comparison of the difference in the samples
utilized in these two works, which we believe is the basis for the differing results, and
then present evidence supporting our conclusions.
Carroll and Fennema’s Sample
Carroll and Fennema based their current study on a stratified sample of 176 firms
originally constructed by Fennema (1982) in his earlier work on transnational
interlocking directorates. Fennema used a disproportionate stratified sample design in his
previous analyses to avoid having the sample dominated by US based firms (1982,
p. 402), which comprised the majority of large corporations in 1976. As a result, US
firms were underrepresented in the sample while corporations from other regions,


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