This article examines the inter-personal and financial relationships between Italian quoted on the Stock Exchange in the period 1987-2007, observing not only structural aspects but also the institutional context. Through a detailed analysis of these elements, the author highlights the existence of a link between the phase of institutional innovation that affected the Italian financial market in the nineties and the transformation of interorganizational relations in the same period. In particular, the author shows that different ties react differently to exogenous forces: in the examined case, the network of interlocking directorates tends to weaken in the short period and stabilized thereafter; on the contrary, financial ties show initially a higher inertia, followed by a consolidation in the medium term.
Keywords: Interorganizational networks, institutional innovation, interlocking directorates, network analysis, financial markets, listed companies