The birth of joint stock companies in Chile (1849-1875)

Translated title of the contribution: The birth of joint stock companies in Chile (1849-1875)

Roberto Araya-Valenzuela, Manuel Llorca-Jaña

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2 Scopus citations


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.

Translated title of the contributionThe birth of joint stock companies in Chile (1849-1875)
Original languageEnglish
Pages (from-to)43-76
Number of pages34
JournalRevista de Historia Industrial
Issue number74
StatePublished - 2018
Externally publishedYes


  • Chile
  • Economic elites
  • Joint stock companies
  • Nineteenth century
  • Shareholders


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