TY - JOUR
T1 - The birth of joint stock companies in Chile (1849-1875)
AU - Araya-Valenzuela, Roberto
AU - Llorca-Jaña, Manuel
N1 - Funding Information:
This article was funded by Fondecyt Regular 1150161 and by Proyect Basal USA 1498-LM032122. We are very grateful for the diverse support provided by Luis Ortega, José Díaz, Ricardo Nazer, Gustavo del Ángel, Carlos Marichal, Andrea Lluch, Bernardo Bátiz-Lazo, Pedro Neves, Pierangelo Toninelli, Martín Monsalve, Katharine Wilson and Juan Navarrete.
Publisher Copyright:
© 2018, Department of Economic History and Institutions, Policy and World Economy. All rights reserved.
PY - 2018
Y1 - 2018
N2 - This article deals with the emergence of joint stock companies (JSC) in Chile during the third quarter of the nineteenth century. We have built the first database related to JSC for this period, providing useful information about its demography. We found that: JSC funded the emergence of new key industries fostering economic growth; there was a high level of concentration in JSC ownership; most shareholders were Chilean, which means that the main investment projects in mining, banking and transport were funded with national capital; Chilean businessmen were active in mobilizing capital funds and adopting new technologies. The entrepreneurial spirit shown by local businessmen, be they miners, bankers, agriculturalists or traders, is undeniably present, in a transitional phase to capitalism.
AB - This article deals with the emergence of joint stock companies (JSC) in Chile during the third quarter of the nineteenth century. We have built the first database related to JSC for this period, providing useful information about its demography. We found that: JSC funded the emergence of new key industries fostering economic growth; there was a high level of concentration in JSC ownership; most shareholders were Chilean, which means that the main investment projects in mining, banking and transport were funded with national capital; Chilean businessmen were active in mobilizing capital funds and adopting new technologies. The entrepreneurial spirit shown by local businessmen, be they miners, bankers, agriculturalists or traders, is undeniably present, in a transitional phase to capitalism.
KW - Chile
KW - Economic elites
KW - Joint stock companies
KW - Nineteenth century
KW - Shareholders
UR - http://www.scopus.com/inward/record.url?scp=85057552062&partnerID=8YFLogxK
M3 - Article
AN - SCOPUS:85057552062
SN - 1132-7200
VL - 27
SP - 43
EP - 76
JO - Revista de Historia Industrial
JF - Revista de Historia Industrial
IS - 74
ER -