Table 3 Networks of the state as the largest shareholder and interlocking directorate networks: 2000–2010, QAP logistic regression

Largest shareholder networks

1.11

1.08

1.22^*

1.21^***

1.34^***

1.28^***

1.34^***

1.41^***

1.43^***

1.36^***

1.10^†

Regional networks

5.88^***

5.33^***

6.14^***

6.06^***

5.27^***

5.11^***

4.45^***

4.55^***

4.69^***

4.19^***

3.86^***

Industry networks

1.17

1.17

1.28^*

1.25^***

1.20^**

1.20^***

1.20^**

1.27^***

1.27^***

1.21^***

1.25^***

Total asset networks

1.48^**

1.58^***

1.45^***

1.41^***

1.4e + 05^***

1.38^***

1.44^***

1.34^***

1.33^***

1.33^***

1.33^***

Age networks

1.24^***

1.18^***

1.09^***

1.05^***

1.5e − 47

1.05^**

1.04^**

1.04^**

1.03^***

1.02^*

1.01

Debt/asset networks

.29^*

1.23

.73

.96

.76

1.02

1.20

1.42^*

.90

.83

.72^*

ROE networks

.62

1.01

1.23^†

.90

1.11

.69

.84

1.02

.91^**

.99

.87^†

Intercept

3.7e − 08

9.8e − 09

2.0e − 07

4.4e − 07

2.9e + 103

6.9e − 07

2.4e − 07

1.2e − 06

1.5e − 06

1.8e − 06

2.2e − 06

Number of dyads

5191920

825372

311922

1017072

967272

1184832

1029210

1287090

1680912

1536360

1472582

Pseudo R ² (%)

7.30

6.10

6.80

6.30

5.50

5.30

4.80

4.70

5.00

4.30

3.70

LL

−1918.89

−3093.15

−2595.55

−8545.81

−8121.00

−9640.95

−8317.07

−10297.97

−13471.71

−12254.76

−11132.60