The backbone of corporate control: Backbone layouts

The backbone of corporate control: Backbone layoutsJames B. Glattfelder and Stefano Battiston

Chair for Systems Design

The backbone of corporate control:Backbone layouts

4th of September 2008

James B. Glattfelder and Stefano Battistonjglattfelder@ethz.ch; sbattiston@ethz.ch

Chair of Systems Design, ETH Zurich, Kreuzplatz 5, 8032 Zurich, Switzerland

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The backbone of corporate control: Backbone layoutsJames B. Glattfelder and Stefano Battiston

Chair for Systems Design

1 Backbones

SOCIT NATIONALE DE CRDIT

ARCELOR SA

STATE OF LUXEMBOURG

BERTELSMANN TV

ACERGY S.A.

GE CFE LUXEMBOURG SARL

FIDELITY

BERTELSMANN

CEGEDEL SA

TENARIS S.A.

RTL GROUP SA

DEUTSCHE

SES S.A.

I.I.I. INDUSTRIAL INVESTMENTS INCORPORA

MITTAL STEEL COMP

COINTEL

PETROBRAS ENERGIA S.A.POLLEDO S.A.I.C. Y F.

YPF SOCIEDAD ANONIMA

DIMENSIONAL FUND ADVISORS

TELEFONICA SA

REPSOL YPF S.A.

NORTEL

PETROBRAS PARTICIPACIONES SL.

TELEFONICA DE

PETROBRAS ENERGIA PARTICIPACIONES S.A.MOLINOS RIO DE LA

ALTO PALERMO S.A.

BANCO BILBA

TELECOM

INVERSIONES Y REPRESENT

SIDERAR SOCIEDAD ANONIMA INDUSTRIAL

ECIPSA HOLDING S.A.

LEDESMA SOCIEDAD ANONIMA

EUROMAYOR S.A. DE INVERSIONES

BBVA BANCO FRANCESTERNIUM SA

Figure 1: Left: LU; right: AR.

IAT REINSURANCE SYNDICATE LIMITED

UNION-TRANSPORT

INVESCO PLC

OPENTV CORP.

RAB CAPITAL PLC

GOLDEN CHAMBER

NUTRIASIA PACIFIC LTD

NAM TAI ELETRONICS, INCORPORATED

AXA

MERRILL LYNCH & CO., INC.

LI & CHUI HOLDINGS (BVI) LTD

KOWN KOO, MING MR

QIAO XING UNIVERSAL TELEPHONE, INC.

UTI WORLDWIDE INC.

DEL MONTE PACIFIC

LEESHA

ALBIDON LIMITED

HSBC INTERNATIONAL TRUSTEE

DESWELL INDUSTRIES,

KUDELSKI SA

COMMONWEALTH BANK OF AUSTRALIA

RUI LIN WU

WELLINGTON MANAGEMENT

NUTRIASIA SAN

WU HOLDINGS LIMITED

PTR HOLDINGS

T. ROWE PRICE GROUP, INCFMR CORP

UNITED SERVICES TECHNOLOGIES

WESSELS MATTHYS

KJALAR INVEST B.V.

SAMSON EIGNARHALDSFLA

SAMSON GLOBAL

BAKKAVOR GROUP HFEXISTA B.V.

WILLIAM DEMANT INVEST A/S

EYRIR INVEST EHF

EURONEXT N.V.

EXISTA HF

FJRFESTINGARFLA

FRONTLINE

MILESTONE EHF

FL GROUP HF.DATTUR INTERNATIONAL EHF

FL GROUP HOLDING NETHERLANDS B.V.

LANDSBANKI LUXEMBOURGODDAFLUG B.V.

INQUAM (NORWAY) BV

MAREL FOOD SYSTEMS

OSSUR HF

GNUPUR FJARFESTINGAFELAG HF

TRYGGINGAMIDSTODIN HF

STRAUMUR - BURDARAS

LANDSBANKI ISLANDS

GLITNIR BANK

EIMSKIPAFELA

KAUPTHING BANK HF

Figure 2: Left: VG; right: IS.

IMMOFINANZ AG

RAIFFEISEN ZENTRALBANK OESTERREICH AG

CAPITAL GROUP

ANDRITZ AG

RAIFFEISENLANDESBANK

WIENER STDTISCHE WECHSELSEITIGE VERSICHERUNGSANST

VOEST-ALPINE - ARBEITNEHMER-PRIV

WIENER STADTISCHE VERSICHERUNG AG - VIENNA INSURANCE

OESTERREICHISCHE INDUSTRIEHOLDING

PALFINGER AG

TELEKOM AUSTRIA

BANK AUSTRIA CREDITANSTALT AG

IMMOEAST AG

MAYR-MELNHOF KARTON AG

RAIFFEISEN INTERNATIONAL BANK-HOLDING AGSTERREICHISCHE POST AKTIENGESELLSCHAFT

BHLER-UDDEHOLM AG

CA IMMOBILIEN ANLAGEN AG

EVN ENERGIE-VERSORGUNG NIEDEROSTERREICH AG

LENZING AG

AUSTRIAN AIRLINES STERREICHISCHE

PALFINGER FAMILY

STERREICHISCHE ELEKTRIZITTSWIRTSCHAFTS-AKTIENGESELLSCHAFT

DIE ERSTE

INTERNATIONAL

OMV AKTIENGESELLSCHAFT

ERSTE BANK

VOEST-ALPINE AG

RAIFFEISENLANDESBANK OBERSTERREICH

CERTUS BETEILIGUNGS-GMBH

AXAUNICREDITO ITALIANO SPA

N LANDES-BETEILIGUNGSHOLDING GMBH

B&C HOLDING

ENERGIE BADEN-WURTTEMBERG AG

FAMILY OWNERSHIP

STATE OF AUSTRIA

NATIONAL CORPORATION FOR TOURISM AND HOTELS

MASHREQBANK

ABU DHABI COMMERCIAL BANKABU DHABI NATIONAL ENERGY

THE RULING FAMILY OF DUBAIABU DHABI SHIP BUILDING PJSC

COMMERCIAL BANK OF DUBAI P.S.C.

GENERAL PUBLIC

ABU DHABI ISLAMIC BANK - PUBLIC JOINT

MUBADALA DEVELOPMENT COMPANY

ARAMEX PJSC

GOVERNMENT OF ABU DHABI

UNION PROPERTIES PUBLIC

UNION NATIONAL BANK

NATIONAL BANK OF DUBAI

PROMOTORS (UAE NATIONALS)

FIRST GULF BANK EMAAR PROPERTIESEMIRATES BANK INTERNA

EMIRATES DRIVING PUBLIC SHAREHOLDING CO - EDCAD

ABU DHABI GOVERNMENT

ABU DHABI NATIONAL INSURANCE COMPANY

AL NAHYAN FAMILY

NATIONAL BANK OF ABU DHABI

NATIONAL BANK OF RAS AL-KHAIMAH (P.S.C.) (THE)

EATON VANCE

DUBAI ISLAMIC BANK

ABU DHABI NATIONAL HOTELS

NATIONAL MARINE DREDGING PLC

GOVERNMENT OF RAS AL-KHAIMAH

ABU DHABI INVESTMENT AUTHORITY

UNION CEMENT PUBLIC SHAREHOLDING COMPANY

AL GHURAIR

AMLAK

ABU DHABI AVIATION SHAREHOLDING COMPANYGOVERNMENT

OASIS INTERNATIONAL LEASING COMP

ABU DHABI WATER AND

Figure 3: Left: AT; right: AE.

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The backbone of corporate control: Backbone layoutsJames B. Glattfelder and Stefano Battiston

Chair for Systems Design

SAUDI BASIC INDUSTRIES CORPORASAUDI ARABIAN FERTILIZER

NATIONAL SHIPPING COMPANY

NATIONAL GAS & INDUSTRIALIZA

SAUDI REAL ESTATE COMP

AL SHARBATLY FAMILY

NATIONAL AGRICULTURE DEVELOPMENT COMPANY

TABUK CEMENT COMPANYGOVERNMENT

GOVERNMENT OF THE KINGDOM OF SA

STATE OF SAUDI ARABIA

SAUDI ARABIA REFINERIES COMPANY

ARAB BANK PLC

PUBLIC INVESTMENT FUND

EMIRATES

CALYON

ARB EMPLOYEE

BANQUE DU CAIRE SAE

SAUDI INDUSTRIAL INVESTMENT GROUP

COMPANY FOR COOPERATIVE INSURANCE (THE)

GENERAL ORGANISATION FOR SOCIAL INSURANCE

SAUDI TELECOM COMPANY (SAUDI JOINT

EASTERN PROVINCE CEMENT COMPANY

QASSIM CEMENT COMPANY (QCC) (THE)

SAUDI HOTELS & RESORT AREAS COMPANY

SAUDI FISHERIES COMPANY

YANBU CEMENT COMPANY

SAUDI PUBLIC TRANSPORT

SOUTHERN PROVINCE CEMENT COMP

AL RAJHI BANK

RIYAD BANK

ETIHAD ETISALA

SAUDI ELECTRICITY

ARAB NATIONAL BANK

SAMBA FINANCIAL

BANQUE SAUDI

TUNISIE TELECOM

SOCIETE FRIGORIFIQUE ET BRASSERIE

EXIS

CAISSE NATIONALE DE SECURITE SOCIALEUNION INTERNA

COMPANIE MDITERRANIENNE D ASSURANCE ET DE RASSURANCES

SOCIETE TUNISIENNE DES MARCHES DE GROS

AIR LIQUIDE DE TUNISIE

TUNISIE LEASINGAMEN BANK

SOCIETE

SOCIETE TUNISIENNE DENTREPRISES

BANQUE NATIONALE AGRICOLE

UNION BANCAIRE

SOCIETE MODERNE DE

BANQUE DE TUNISIE

ATTIJARI

BANQUE DE LHABITATARAB TUNISIAN BANK

OFFICE DU COMMERCE DE LA TUNISIE

SOCIETE INDUSTRIELLE TUNISIE

SOCIETE MAGASIN GENERAL

GOVERNMENT OF TUNISIA

SOCIT TUNISIENNE DE BANQUE

AIR LIQUIDE INTERNATIONAL

SOCIETE DE PLACEMENT

SOCIETE TUNISIENNE DE LAIR - TUNISAIR

STATE OF TUNISIA

ARAB BANK PLC

SICAF PARTICIPATIONS BNA

BRASSERIES ET GLACIRES INTERNATIONALES

ENTERPRISE TUNISIENNE DACTIVITES PETROLIERES

SOCIT GNRALE

GROUPE ABDENNADHER

MAGHREB INVESTISSEMENTS

CRDIT INDUSTRIEL ET COMMERCIAL - CIC

ATTIJARIWAFA

BNP PARIBAS

BNP PARIBAS BDDI PARTICIP

SOCIT DE PARTICIPATION DE GESTION ET DINVESTISSEMENT

ANDALUMA

Figure 4: Left: SA; right: TN.

BANK DHOFAR SAOG

COMMERCIAL BANK OF QATAR (THE) QSC

A.P. MLLER - MAERSK A/S

AL MAHA PETROLEUM PRODUCTS MARKETING COMPANY

ISLAMIC DEVELOPMENT

ABS LUBRICANTS LLC

BANK MUSCAT SAOG

KUWAIT & MIDDLE EAST FINANCIAL INVESTMENT COMPANY

MINISTRY OF FINANCE

OMAN CABLES INDUSTRY (S.A.O.G.) J.S.C.DRAKA CABLETEQ

RENAISSANCE SERVICES SAOG (P.J.S.C.)

NATIONAL BANK OF OMAN (SAOG)

FINANCIAL SERVICES CO.

DHOFAR POULTRY

HSBC A/C THE BANK OF NEW YORK INTL NOMI

SALALAH PORT SERVICES COMPANY

SOCIT GNRALE

OMAN FLOUR MILLS

PORT SERVICES CORPORA

OMAN INTERNATIONAL DEVELOPMENT AND INVESTMENT CO. S.A.O.G.NATIONAL

OMAN NATIONAL INVESTMENT CORPORATION

ALLIANCE HOUSING

SALALAH MILLS

NATIONAL FINANCE COMPANY SAOG (J.S.C.)

RAYSUT CEMENT COMPANY

OMAN INTERNATIONAL BANK

TAWOOS LLC

OMAN FISHERIES

SUHAIL BAHWAN GROUP (HOLDING) LLC

OMAN AVIA

MINISTRY OF COMMERCE AND INDUSTRY

OMAN CEMENT COMPANY SAOG

DRAKA HOLDING BVGOVERNMENT

ROYAL COURT AFFAIRSMINISTRY OF DEFENCE PENSION FUND

ABU DHABI FUND FOR DEVELOPMENT

DR OMAR ABDUL MUNIEM AL ZA

DHOFAR INTERNATIONAL

DUBAI FINANCIAL LLC

BLAKENEY MANAGEMENT

AL HILAL INVESTMENT COMPANY LLC

DHOFAR CATTLE

GIMV NV

GOVERNMENT OF FRANCE

STICHTING ADMINISTRATIEKANTOOR BEKAERT

FRANCE TELECOM

SOLVAY SA

BREDERODE

SOCIETE DE PARTICIPATIONS INDUSTRIELLES

STICHTING VSBFONDSBEKAERT SA/NV

UCB NV/SAMOBISTAR

FAMILLE JANSSEN

BELGACOM SA

COMPAGNIE NATIONALE A PORTEFEUILLE

WIREFREE

SOFINA SA

KAS BANK NV

HOLDICAM

UNION FINANCIERE BOEL

FRANKLIN RESOURCES, INC.FORTIS

AUXIMINES

KBC ANCORA

SOLVAC SA

FINGEN

FRERE-BOURGEOIS

PARTICIPATIEMAATSCHAPPIJ VLAANDEREN

BELGISCHE STAAT

ETHIAS ASSURANCE

GROUPE CAISSE

FINANCIERE DE TUBIZE

M.R.B.B. OF MAATSCHAPPIJ VOOR ROEREND BEZIT VAN DE BOERENBOND

BANQUE NATIONALE DE BELGIQUE

ARCOFIN

ACKERMANS EN VAN HAAREN NV/SA

AXA

STICHTING INBEV

DEXIA

GROUPE BRUXELLES LAMBERT

ETABLISSEMENTEN FRANZ COLRUYT N.V.