The Corporate Networks and Symbolic Capital of British Business Leaders

Has globalization diminished the cohesion and influence of British corporate elites? I draw on data from The Times' ranking of British business elites in the years preceding the 2008 financial crisis to address this question. The analysis finds elites with royal titles, Oxbridge educations, and...

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Bibliographic Details
Published in:	Sociological perspectives 2018-06, Vol.61 (3), p.467-486
Main Author:	Buck, Andrew
Format:	Article
Language:	eng
Subjects:	Business Capital Cultural capital Economic crisis Economic sociology Elites Familiarity Globalization Interlocking directorates International Sociology Interorganizational networks Loyalty Ratings & rankings Ruling class Social classes Social cohesion Social environment Social networks Symbolism Symbols
Online Access:	Get full text
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Summary:	Has globalization diminished the cohesion and influence of British corporate elites? I draw on data from The Times' ranking of British business elites in the years preceding the 2008 financial crisis to address this question. The analysis finds elites with royal titles, Oxbridge educations, and English identities are not especially central in director networks. Despite being cohesive, director networks are globally diverse and the symbols of the British ruling class are not central in them. However, those symbols are important to centrality in director networks when taking into account strong ties. The similarity and familiarity of strong ties deepen the influence of symbolic capital in board networks because they place it in a social context. These findings suggest that corporate elites in Britain have a dual loyalty to both globalization and the traditional symbols of the British ruling class.
ISSN:	0731-1214 1533-8673