How did the financial crisis affect the transnationality of the global financial elite? One step forward and one step back

Over the last few decades, transnational elite formation progressed hand in hand with a deterioration in national business elites. Most studies regard this process as progressive and linear. However, we argue that transnational elite formation is subject to a variety of opposing forces, and the assumed progression is not a given fact. As an intriguing case, we analyse the financial business elite with a focus on the financial crisis of 2008. This international event had substantial ramifications, including a possible external shock to transnational elite formation. To study the consequences of the crisis, we collected the board composition data of the 48 largest transnational financial companies for the period 2006–11. Changes in board composition show opposing effects. For example, transnationality increased during the crisis, but reversals appeared when national governments intervened.     

Transnationalists and national networkers in the global corporate elite

Through a longitudinal network analysis of the interlocking directors of the world's 500 largest corporations (1996–2006), in this article I map continuities and changes in the social organization of the global corporate elite. I pursue two questions: (1) Can we trace the formation, within the elite, of a set of directors whose transnational interlocks form an inner circle of cosmopolitans? And (2) How does the regionalized character of global capitalism structure the global corporate elite in its national and transnational segments? Findings show that transnationalists have gained prominence within the global corporate elite and are firmly embedded in the network, through extensive ties to each other and to various national components. National networkers, despite thinning ranks and sparser interlocks, continue to form the backbone of the global corporate elite, and remain on balance nationally cohesive. Overall, despite modest accretions in participation from the semi‐periphery, and with the decline of the Japanese corporate network, the elite becomes centred even more strongly on the North Atlantic. With its growing regional cohesiveness, corporate Europe gains prominence within that heartland. This analysis helps specify the process of transnational capitalist class formation at its higher reaches.     

Corporate interests within transnational advocacy networks: The International Coalition Against Plain Packaging

Most of the research on transnational advocacy networks documents progressive, voluntary movements, motivated by values associate with human rights and public goods. There is little critical reflection on the role of corporations within such networks or on the material motivations behind movements. Meanwhile literature on corporate political strategies related to partnerships with civil society is limited to national level analysis. This article presents a case study of the International Coalition Against Plain Packaging, which is conceptualized as a transnational advocacy network, and documents its links to the tobacco industry. We find that, not only have tobacco companies provided network members – publicly presented and perceived as independent – with financial resources, but they have also been involved in producing the information used by the network to debate the benefits of plain packaging. In return, the tobacco industry is able to propagate ideas favorable to its interests through organizations perceived as legitimate experts, and to maintain a network of allies ready to counter tobacco control regulations when and where they arise. Considering the multiple benefits corporations might derive from engaging with transnational advocacy networks, there is need for greater research on private actors’ influence within advocacy networks and on those networks that aim to counter or advance alternatives to progressive ideals.     

Are Latin America's corporate elites transnationally interconnected? A network analysis of interlocking directorates

Conflicting perspectives appear when thinking about the emergence of a cohesive transnational corporate network in Latin America. On the one hand, regional political integration, foreign investment growth, increased cross‐border mergers and acquisitions, and cultural and linguistic homogeneity may have fostered transnational networks among Latin America's corporate elites. On the other hand, domestic‐based business groups, family control and trade orientation to the USA may have hindered the emergence of a cohesive transnational corporate network in Latin America. Based on a network analysis of interlocking directorates among the 300 largest corporations in Latin America, I ask whether the region's corporate elites interconnect at the transnational level and form a cohesive transnational corporate network. I found few transnational interlocks, a lack of cohesion in the transnational corporate network and no regional leaders. Corporate elites in Latin America are not transnationally interconnected and so a cohesive transnational corporate network has not emerged. I discuss implications and avenues of future research.     

The social field of the European corporate elite: a network analysis of interlocking directorates among Europe's largest corporate boards

In this article I investigate the emerging patterns of the European corporate elite network as an example of a European social field, as described by Fligstein. The findings confirm that interlocking directorates form a European corporate network. However, the intercorporate network rests on a very small group of European corporate elite members: it remains the playground of a select few pan‐European ‘big linkers’. Although financial institutions and bankers appear in the upper echelons of the network, they do not occupy crucial positions. Rather, (former) CEOs of Europe's largest big non‐financial businesses knit together the network of interlocking directorates. The network rests on a coalescence of finance and industry, rather than on the dominance of the one over the other. Although the project of European unification has been quite successful in organizing the formal institutional structures, it has not yet led to reproduction of a European business community reminiscent of the national communities.     

The network of global corporations and elite policy groups: a structure for transnational capitalist class formation?

This study situates five top transnational policy–planning groups within the larger structure of corporate power that is constituted through interlocking directorates among the world's largest companies. Each group makes a distinct contribution towards transnational capitalist hegemony both by building consensus within the global corporate elite and by educating publics and states on the virtues of one or another variant of the neo–liberal paradigm. Analysis of corporate–policy interlocks reveals that a few dozen cosmopolitans – primarily men based in Europe and North America and actively engaged in corporate management – knit the network together via participation in transnational interlocking and/or multiple policy groups. As a structure underwriting transnational business activism, the network is highly centralized, yet from its core it extends unevenly to corporations and individuals positioned on its fringes. The policy groups pull the directorates of the world's major corporations together, and collaterally integrate the lifeworld of the global corporate elite, but they do so selectively, reproducing regional differences in participation. These findings support the claim that a well–integrated global corporate elite has formed, and that global policy groups have contributed to its formation. Whether this elite confirms the arrival of a transnational capitalist class is a matter partly of semantics and partly of substance.     

The promise and perils of using big data in the study of corporate networks: problems,diagnostics and fixes

Network data on connections between corporate actors and entities – for instance through co‐ownership ties or elite social networks – are increasingly available to researchers interested in probing the many important questions related to the study of modern capitalism. Given the analytical challenges associated with the nature of the subject matter, variable data quality and other problems associated with currently available data on this scale, we discuss the promise and perils of using big corporate network data (BCND). We propose a standard procedure for helping researchers deal with BCND problems. While acknowledging that different research questions require different approaches to data quality, we offer a schematic platform that researchers can follow to make informed and intelligent decisions about BCND issues and address these through a specific work‐flow procedure. For each step in this procedure, we provide a set of best practices for how to identify, resolve and minimize the BCND problems that arise.     

Transnational social movements and changing organizational fields in the late twentieth and early twenty‐first centuries

Recent decades have seen dramatic changes in the global political arena, including shifts in geopolitical arrangements, increases in popular mobilization and contestation over the direction of globalization, and efforts by elites to channel or curb popular opposition. We explore how these factors affect changes in global politics. Organizational populations are shaped by ongoing interactions among civil‐society, corporate and governmental actors operating at multiple levels. During the 1990s and 2000s, corporate and government actors promoted the ‘neoliberalization of civil society’ and the appropriation of movement concepts and practices to support elite interests. Not all movement actors have been passive witnesses to this process: they have engaged in intense internal debates, and they have adapted their organizational strategies to advance social transformation. This article draws from quantitative research on the population of transnational social movement organizations (TSMOs) and on qualitative research on contemporary transnational activism to describe changes in transnational organizing at a time of growing contention in world politics. We show how interactions among global actors have shaped new, hybrid organizational forms and spaces that include actors other than states in influential roles.     

Rethinking the origins of transnational humanitarian organizations: the curious case of the International Shipwreck Society

This exploration of the evolution of the International Shipwreck Society (ISS) – a previously neglected transnational humanitarian organization that by the late 1830s had branches in every continent – casts new light on three key aspects of the development of global humanitarianism. First, that there was a secular humanitarian association with a global organizational structure in the 1830s challenges widespread assumptions about the timing of internationally organized humanitarian action. Second, the influence of Chinese precedents on the ISS points to the importance of long forgotten Eastern origins of transnational humanitarianism. And third, the evaluation of the role of individuals in the development of the ISS reveals that early transnational humanitarian organizations faced leadership problems that scholars had previously neglected. In each of these respects, this article provides a new perspective on the origins of global networks.     

Evidence of a transnational capitalist class‐for‐itself: the determinants of PAC activity among foreign firms in the Global Fortune 500, 2000–2006

Transnational capitalist class (TCC) theory is rooted in the claim that the globalization of the economy has led to a globalization of economic interests and of class formation. However, systematic evidence linking the indicators of transnational class formation with political behaviour is largely missing. In this article, I combine data on board of director interlocks among the 500 largest business firms in the world between 2000 and 2006 with data on the political donations to US elections of foreign corporations via the corporate political action committees (PACs) of their subsidiaries, divisions or affiliates. Controlling for the various interests of individual firms, I find that foreign firms that are highly central in the transnational intercorporate network contribute more money to US elections than do the less central foreign firms. Given prior research on board of director interlocks, this finding suggests that a segment of the transnational business community has emerged as a class‐for‐itself.     

A hegemon fighting for equal rights: the dominant role of COC Nederland in the LGBT transnational advocacy network

Networks are alternatives to hierarchical organizational forms. However, actors in networks have different resources at their disposal, and more powerful participants will try to influence the network as a whole. We identify a dominant node in the European LGBT advocacy network, and explore whether a hegemonic actor in the transnational advocacy network will affect less powerful groups' issue framing. Our project uses software that locates the issue network on the internet, highlighting how transnational advocacy work and digital communication have become inextricably connected. We confirm that Cultuur – en Ontspannings Centrum, known as COC Netherland has higher‐than average centrality measures in the LGBT network. Noting the limitations of hyperlink analysis, we conduct a content analysis of select nodes illustrating the impact of a hegemon. We focus on marriage equality and find tentative support for our hypothesis: organizations with links to COC advocate for stronger forms of legalized same‐sex union than do organizations without ties.     

Governing the transnational organic cotton network from Benin

In this article, we attempt to conceptualize the historical development and the governance structure of the transnational organic cotton network from Benin. We aim to discover how the organic cotton production‐consumption network is governed locally and internationally. Existing bodies of literature on international agricultural production networks, in particular the Global Value Chains (GVC) perspective, focus on economic dimensions, but find it difficult to incorporate the sustainability dimension. We favour widening the concept of GVCs beyond economics by acknowledging and including environmental rationalities and the representatives of their interests, not as external elements, but rather as co‐governing or co‐structuring factors (or actors) of sustainable value chains. Our findings reveal that beyond the traditional producer versus buyer dualism, intermediate stakeholders, namely transnational and local environmental NGO networks, are instrumental in the construction, maintenance and transformation of the organic cotton network. It is also apparent that farmers' leaders play an important role in mediating and (re)building trust among organic farmers, though they exert insufficient vertical power in the organic cotton network to control it.     

In between leaving and being left behind: mediating the mobilities and immobilities of Indonesian non‐migrants

In this article, I consider how and why some non‐migrants partially inhabit migrant subjectivities. Based on ethnographic fieldwork conducted in Central Java, Indonesia, I describe the experiences of those who embarked on pre‐departure migration processes, but failed to leave the country. Men were often victims of fraud; women typically ran away from the confines of training centres. When redirected away from the border spaces of airports and recruitment centres, they typically identify themselves and are perceived by kin and neighbours as ‘former’ transnational migrants. I analyse how migration infrastructure – intersecting institutions, agents and technologies – produces such subjectivities in‐between conventional migrant and non‐migrant categories. These positions in between leaving and staying illuminate the infrastructural conditions that enable, constrain and mediate transnational mobilities. These cases of non‐departure show the expansive social and spatial effects of migration infrastructure beyond the facilitation of transnational movement. Such less considered (im)mobilities of non‐migrants point to the diverse ways in which migration institutions and agents mediate the circulation of persons between and within national borders.     

Transnational issue networks in real and virtual space: the case of women,peace and security

To what extent do online issue networks serve as a proxy for their real‐space counterparts in structure and substance? This question is significant because a number of scholars have begun to study transnational advocacy networks through their representations online. We explored whether this assumption is valid by comparing the network composition and agenda composition of the advocacy network around ‘women, peace and security’, as operationalized through a web‐based survey of actual activists, and the network's online representations of itself, as measured through advocacy websites. Two specific concerns drove the study. First, how closely does the structure of issue networks, as represented on the World Wide Web, correspond with actual advocates' understanding of the players within a specific issue domain? Second, to what extent does the online issue agenda correlate with the most prominent issues described by real‐space advocates within a transnational network? Our findings yielded a high correlation between the online issue agenda and activists’ interpretations of the agenda. However, we found that while hyperlink analysis is an effective tool for identifying the ‘hubs’ or ‘gatekeepers’ within a specific issue network, the nature of the World Wide Web makes it is a blunt tool with which to capture the broader network. This suggests that while the web poses important opportunities as a data source, scholars of transnational networks must pay closer attention to the methodological assumptions implicit in their reliance on this and other new media.     

The cosmopolitan elite in Germany: transnationalism and postmaterialism

In this article, we investigate cosmopolitan attitudes among the people often considered the most cosmopolitan – the elite. Studying the typical class of frequent travellers provides a particularly good opportunity to study the relationship between transnational activities and cosmopolitanism. We also comprehensively investigate the link between postmaterialist values and cosmopolitan attitudes. We test our arguments using an original dataset that includes a relatively large sample of the German positional top elite in the years 2011 and 2012. A comparison between these data and data from a general population survey shows that while transnational activities affect the attitudes of ordinary citizens, increased travelling does not make elites more cosmopolitan. We discuss several reasons why this might be the case. We also observe that postmaterialist values and the ideological environment of the elite play a key role. Finally, we tentatively suggest that cosmopolitan elites do not endanger national social cohesion, as some fear they might. We show that cosmopolitanism and localism are not mutually exclusive and that members of the German elite feel even more attached to their nation than ordinary Germans.     

Perspectives on Corporate Control: Implications for CEO Compensation

This study examines the influence on CEO paypractices of four corporate control perspectives:managerial control, class hegemony, external control,and efficient market. The results indicate the influence of both market and extra-market controls on thedetermination of CEO pay levels and criteria.Implications for the governance of firms and the studyof corporate control are drawn.     

New insights in reproducing transnational corporate elites: the labour market intermediation of executive search in the pursuit of global talent in Singapore

In this article, I provide new theoretical and empirical insights into the reproduction of transnational corporate elites through the process of people moving between firms’ internal labour markets rather than from expatriation. Theoretically, the article advances understandings of the reproduction of transnational corporate elites by drawing on a pioneering engagement with global talent, transnational elites and labour market intermediary discourses. I generate these new theoretical insights through an original case study of how global executive search firms in Singapore create pipelines for the recruitment of transnational corporate elites between firms’ internal labour markets. The findings also highlight the vital role of Singapore's neoliberal labour market practices, as well as its foreign talent programme to ‘win the war for talent'. By situating this research on the agency of executive search in reproducing Singapore's transnational corporate elite, the article's key contribution is to decentre North American and Western perspectives on the reproduction of knowledge on transnational corporate elites.     

Social upgrading and cooperative corporate social responsibility in global value chains: the case of Fairphone in China

In this article, we explore how a lead firm's strategy for corporate social responsibility influences the social upgrading of a supplier in a global value chain. Based on a single case study approach, we investigate the interaction between Dutch smartphone producer Fairphone and its Chinese supplier Guohong. On the one hand, the case illustrates how a cooperative approach to corporate social responsibility can lead to progress in suppliers' social upgrading. In particular, we highlight the role of a so‐called workers' welfare fund as a mechanism not only for improving measurable labour standards but also for enabling rights. On the other hand, the case demonstrates how the limited production and technological capabilities of the suppliers, a competitive market environment and lead firms' limited strategic access to the supply chain might constrain the extent of social upgrading through a cooperative approach towards corporate social responsibility in a global value chain.     

Is the locus of class development of the transnational capitalist class situated within nation‐states or in the emergent transnational space?

The rise of the modern corporation has disrupted the class structures of nation‐states because, in the era of globalization, such reorganization now occurs across borders. Yet, has globalization been deep enough to facilitate the emergence of a transnational capitalist class (TCC) in which both class formation and consolidation processes are located in the transnational space itself? I contribute to our understanding of the TCC by contrasting the personal characteristics, life histories and capital endowments of members of the British corporate elite with and without transnational board appointments. The existence of the honours system in the UK allows us to compare individuals objectively in terms of their symbolic capital and to link this trait to embeddedness in the TCC. By studying 448 directors from the 100 largest firms in the UK in 2011, I find evidence of a TCC with a class consolidation process that is located within transnational space, but whose class formation dynamics are still tethered to national processes of elite production and reproduction.     

Women Working Worldwide: transnational networks,corporate social responsibility and action research

In this article we trace the history of a new form of labour internationalism that emerged in support of women workers’ organizations, in particular in the garment industry, from the 1980s. We tell the story of the emergence of Women Working Worldwide (WWW), a small UK‐based NGO that provides solidarity and support for a network of women workers’ organizations in the commodity producing zones of the global South. WWW grew along with other organizations that have succeeded in forcing global corporations to take some responsibility for the employment conditions along their supply chains. In what has become corporate social responsibility (CSR), companies now establish codes of conduct and workplace audits of employment conditions in those factories to which they subcontract manufacturing work. WWW played a key part in the establishment of the Clean Clothes Campaign, Labour Behind the Label and the Ethical Trading Initiative that continue to develop such practices today. WWW used the power of transnational networks to ensure that the needs and voices of women workers were put on the agenda for action. The story of WWW demonstrates the potential to effect change through transnational networking, the extent to which different local organizations can find common cause with each other and the benefits of engaging in locally‐focused but transnationally coordinated educational and action research projects.