The chemical brothers: Competition and the evolution of the board interlock network in the German chemical industry, 1950–2015

Utilising a unique and original dataset on the board composition of the 35 largest German chemical producers over the 1950–2015 period, the article tracks the entire lifespan of the industry’s reconstituted board interlock network. Regarding the network as a mechanism for controlling competition among its members, we consider changes in its strength over time. We find that a close-knit network came into existence in the 1950s, culminating in the 1970s and 1980s, after which it began to weaken. We highlight the importance of various meeting places for top-level directors from the chemical industry, including bank boards, and moreover introduce a novel measure that makes it possible to consider the significance of past ties to the strength of the network. Situating the findings in a wider political-economic context, we suggest that in important respects Germany’s coordinated form of capitalism is likely to have been even more coordinated than has been recognised.