A stable network as a source of entrepreneurial opportunities: The Rothschilds in Spain, 1835–1931

López-Morell, Miguel Angel; O’Kean, José María

doi:10.1080/00076790701868569

Cited by 19 publications

(5 citation statements)

References 12 publications

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“…37 For instance, Lopez-Morell & O'Kean examined the firm in their Spanish operations and the efforts expended by the firm in establishing relationships there. 38 Cuba and its many opportunities. 39 Also exploring the Rothschilds' activities in Latin America are the significant works by Lopez-Morell and Inés Roldan de Montaud which examine links to Mexico, Chile, Peru and Cuba.…”

Section: Merchant Banking In the Nineteenth Century: Overview And Litmentioning

confidence: 99%

“…In addition to this, in locations where an official 'agent' was not present but the bank maintained business interests, often trusted correspondents took on the same function as resident agents. 57 first with the distribution of quicksilver to the mining districts and then to Mexican bonds, property and the export of dyestuffs and precious metals. 58 The intimate relationships established with such individuals abroad leads one to reflect on how we might determine the geographical limits of the central firm.…”

Section: Global Activity and Global Networkmentioning

confidence: 99%

“…Internal being agents/sister houses and external consisting of correspondents. 110 However, the categorisation of these individuals as well as correspondents is fluid, as personal relationships develop and change over time. The boundaries between internal and external networks become permeable if we consider how frequently they change, how often correspondents are made agents and vice versa, as was seen in the case of Francisco de Goyri who appears to have moved temporarily from correspondent to agent and back again; and thus why the term 'intermediary' has been chosen by the author.…”

Section: The Importance Of Intermediariesmentioning

confidence: 99%

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Bridges and Bonds: The Role of British Merchant Bank Intermediaries in Latin American Trade and Finance Networks, 1825–1850

Buchnea¹

2020

Enterp. Soc.

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In the first half of the nineteenth century, transatlantic trade and finance networks were complex webs of transactions often consisting of lengthy chains of connections linking distant firms to distant markets. As a number of scholars have shown, merchant bankers of the nineteenth century were at the centre of many of these networks, acting as an inter-connected and often impenetrable group, which dictated the flow of capital and investment across many borders. Most recently, scholars such as Manuel Llorca-Jaña, Lopez-Morell and Juliette Levy (to name a few) have produced a number of especially significant publications on the role of financial intermediaries in Latin America. Llorca-Jaña and Lopez-Morrell's work has been essential for illuminating the role of London bankers Huth & Co. and Rothschilds (respectively) in creating a global network which included Latin American markets and trades; while Levy's work has highlighted the role of special financial players in inland markets, namely in the Yucatan. This paper aims to build on this previous work through an analysis of crucial network actors in Anglo-American merchant bank networks in the first half of the nineteenth century. To conduct a varied and general analysis, this paper will draw on the correspondence records of the Baring Brothers and N. M. Rothschilds, two of the most well-known and profitable London merchant banks of the period. Through this material, this study will present an analysis of British merchant-bank connectivity and the role of intermediaries in connecting merchant banks to distant markets and clients, such as the mining districts of interior Mexico and the sugar merchants of Cuba.In the mid-eighteenth century, the Beekman family firm of New York, importers of dry goods from England and with numerous ties to the Caribbean, were at the centre of a growing transatlantic trading community. It was around this time that a prominent member of the family, William Beekman, a ships-captain, settled in Liverpool with the view to strengthening the firms business on that side of the Atlantic. 1 This was achieved through meetings with manufacturers, building contacts in the local merchant community and relaying important information on this market back to the New York firm. The Beekmans were not the only firms sending individuals abroad to access markets, other firms such as Greg, Cunningham & Co. also sought to do the same by spreading firm partners or agents between Belfast, Liverpool and New York. 2 As trade and subsequently finance of international trade grew to become even more complex, firms that could afford to do so (and had the right personnel available) sent multiple individuals abroad to learn about new markets, network-build, coordinate firm activities and act as a conduit for information for the focal firm. Often referred to as agents, special resident agents, brokers and middle-men, these individuals provided the crucial service of intermediation for firms engaging in long-distance trade and finance (these individuals will be referred...

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Section: Merchant Banking In the Nineteenth Century: Overview And Litmentioning

confidence: 99%

Section: Global Activity and Global Networkmentioning

confidence: 99%

Section: The Importance Of Intermediariesmentioning

confidence: 99%

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Bridges and Bonds: The Role of British Merchant Bank Intermediaries in Latin American Trade and Finance Networks, 1825–1850

Buchnea¹

2020

Enterp. Soc.

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“…Networks were, therefore, often based on high-levels of trust between individuals. These often stemmed from kinship relations (Lopez-Morell and O’Kean, 2008), with an objective of preserving the family’s reputation or quasi-kinship relations with bonds of religion or social and leisure associations substituting for kinship ties (Crumplin, 2007) and which were reinforced via the iterative development of trust, reciprocity and mutuality to foster a relational closeness similar to the idea of an extended family (Cookson, 1997; Mathias, 2002). Attributes such as honesty and shared morals were, therefore, seen as essential to address the needs of early networks (Raskov and Kufenko, 2017).…”

Section: Network Religion and Quakersmentioning

confidence: 99%

“…Network analysis, therefore, has the potential to shed light on the inter-relationships between different entities, and how these develop across time and space. The structure of networks – the focus in this paper – is often based on high-levels of trust between individuals based upon kinship (Lopez-Morell and O’Kean, 2008) or quasi-kinship relations such as religion (Crumplin, 2007) and other forms of social relations, which encourage close-knit communities. Yet, despite a far-reaching and cross-disciplinary scholarship on how family and kin affect network relations, the way in which shared normative commitments – such as religious commitments – have shaped the formation and development of networks remains surprisingly under-elaborated, despite a few notable exceptions (Bell, 2006; Bergquist and Eriksson, 2019; Dent and Bozeman, 2014; Karaçuka, 2018; Raskov and Kufenko, 2017; Wirtz, 2017).…”

Section: Introductionmentioning

confidence: 99%

Religion and social network analysis: the discipline of early modern quakers

Fincham

Burton

2020

JMH

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Purpose The importance of networks has been established in the development of commerce and capitalism, with key concepts reflecting both the dynamic and permeable characteristics of networks. Such attributes are exemplified by religious networks, which have been typically dismissed in terms of economic contribution as being both risk-averse and bounded by ethical barriers imposed by theology. This paper aims to examine the Religious Society of Friends (Quakers) in the long 18th century to evidence the multi-plexity and density of connections and suggest that adherence to the Quaker discipline acted as a trust-based attribute and substituted for repeated iteration. Design/methodology/approach The archival investigation centres upon an analysis of “The Catalogue of Quaker Writing” and a close re-reading of the seminal text “Quakers in Science and Industry”, an authoritative account of Quaker firms and families in industry and commerce. By identifying multiple possible social network connections in Raistrick’s work, this paper reviewed and analysed The Catalogue of Quaker Writing to examine the presence or absence of these connections in the Quaker network in the long 18th century. Findings This paper shows how the Quaker network was an unusually dense network that benefited co-religionists by enabling commerce through its unique topography. In a period characterized by the absence of formal institutional mechanisms to regulate behaviour, Quaker discipline acted as a quasi-regulatory mechanism to regulate membership of the network and to govern member moral behaviour. Originality/value The Quakers offer an opportunity to examine an early modern network to gain important insights into key aspects of network topography. By using social network analysis, this paper shows how Quakers performed a multiplicity of roles, which encouraged multiple modes of contact between members of the society in a dense network of contexts, which, in turn, provided high levels of connectedness between individuals. This unique range of roles, shared among a relatively small group of individuals, ensured that the degrees of separation between roles were very few; similarly, the plethora of connections resulted in a density, which not only allowed for multiple ways to engage with other individuals but also ensured no individual would become a bottle-neck or indeed a gateway that would prevent access. This unique topography was also highly unusual in that it was permeable to any aspirant member upon acceptance of the discipline – neither poverty nor lack of social status was barriers to membership. This unusual network offered atypical commercial advantages for its members.

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Organizational Innovation in Nineteenth-Century Railway Investment: Peripheral Countries in a Global Economy

Silva¹

2014

Bus. Hist. Rev.

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The relationship between ownership and control of distant ventures has been a major topic in business history. This relationship prompted the creation of a specific organizational form, the freestanding company, particularly active in international business before World War I. The freestanding form and railway companies such as Companhia Real share the common characteristic of being stand-alone firms based on foreign direct investment (FDI), but their legal ownership and management strategy were different. The freestanding companies offshored legal ownership; Companhia Real offshored top management since it was incorporated in the country hosting FDI. This business configuration was usual in French investments across European peripheral countries. This article introduces a new concept into the current international business literature, emphasizing the polymorphous character of foreign investment before World War I.

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A stable network as a source of entrepreneurial opportunities: The Rothschilds in Spain, 1835–1931

Cited by 19 publications

References 12 publications

Bridges and Bonds: The Role of British Merchant Bank Intermediaries in Latin American Trade and Finance Networks, 1825–1850

Bridges and Bonds: The Role of British Merchant Bank Intermediaries in Latin American Trade and Finance Networks, 1825–1850

Religion and social network analysis: the discipline of early modern quakers

Organizational Innovation in Nineteenth-Century Railway Investment: Peripheral Countries in a Global Economy

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