Business power in Australia: The concentration of company directorship holding among the top 250 corporates

This paper presents results from a comparative study of company directors of the top 250 Australian companies. The paper analyses the concentration of directorship holding in Australia and New Zealand in 1991 and compares this with other Australian, New Zealand, British, Canadian and American studies. The paper argues that while the density of interorganisational interlocks in Australia is quite normal by international standards, such comparisons are substantially affected by the relatively small number of board positions characteristic of Australian companies. When we allow for this external parameter by considering the concentration of directorship holding by persons, there is evidence of a significant concentration of available positions in the hands of relatively few persons in Australia, New Zealand and Canada. The paper suggests that the organisation of business power in Australia reflects a continuing tension between principles of regulation derived from the larger economies of Britain and the United States and practical concerns of business leadership in Australia generated by the geopolitical realities facing Australian business.