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“Giants of an Earlier Capitalism†: The Chartered Trading Companies as Modern Multinationals

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  • Carlos, Ann M.
  • Nicholas, Stephen

Abstract

Much has been written about late-nineteenth-century multinationals and their relationship to the transnational firms of the present, but both historians and economists have largely discounted the relevance of the earlier chartered trading companies to this discussion. In an article emphasizing transaction cost analysis and the theory of the firm, Professors Carlos and Nicholas argue that the trading companies did meet the criteria of the modern MNE—the growth of a managerial hierarchy necessitated by a large volume of transactions and of systems to control those managers over space and time.

Suggested Citation

  • Carlos, Ann M. & Nicholas, Stephen, 1988. "“Giants of an Earlier Capitalism†: The Chartered Trading Companies as Modern Multinationals," Business History Review, Cambridge University Press, vol. 62(3), pages 398-419, October.
    • Handle: RePEc:cup:buhirw:v:62:y:1988:i:03:p:398-419_00
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    Cited by:

    1. Gary Spraakman & Julie Margret, 2005. "The transfer of management accounting practices from London counting houses to the British North American fur trade," Accounting History Review, Taylor & Francis Journals, vol. 15(2), pages 101-119.
    2. Malinowski, Mikołaj, 2012. "The costs and benefits of microfinance. The market for Dutch East India Company transportbriefen in 18th century Amsterdam," MPRA Paper 64632, University Library of Munich, Germany.
    3. Teresa da Silva Lopes & Mark Casson & Geoffrey Jones, 2019. "Organizational innovation in the multinational enterprise: Internalization theory and business history," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(8), pages 1338-1358, October.
    4. Harris, Ron, 2009. "The institutional dynamics of early modern Eurasian trade: The commenda and the corporation," Journal of Economic Behavior & Organization, Elsevier, vol. 71(3), pages 606-622, September.
    5. Peter Solar, 2013. "Opening to the East: shipping between Europe and Asia, 1770-1830," Working Papers 13013, Economic History Society.
    6. Weiner, Robert, 2006. "Do Crises Tear the Fabric of Oil Trade?," RFF Working Paper Series dp-06-16, Resources for the Future.
    7. Thomas Leng, 2016. "Interlopers and disorderly brethren at the Stade Mart: commercial regulations and practices amongst the Merchant Adventurers of England in the late Elizabethan period," Economic History Review, Economic History Society, vol. 69(3), pages 823-843, August.
    8. Karo , Erkki & Kattel , Rainer, 2015. "Innovation Bureaucracy: Does the organization of government matter when promoting innovation?," Papers in Innovation Studies 2015/38, Lund University, CIRCLE - Centre for Innovation Research.
    9. Edwards, John Richard & Dean, Graeme & Clarke, Frank, 2009. "Merchants' accounts, performance assessment and decision making in mercantilist Britain," Accounting, Organizations and Society, Elsevier, vol. 34(5), pages 551-570, July.
    10. Sheilagh Ogilvie, 2007. "'Whatever Is, Is Right'?, Economic Institutions in Pre-Industrial Europe (Tawney Lecture 2006)," CESifo Working Paper Series 2066, CESifo.
    11. Vijay K. Seth, 2012. "The East India Company—A Case Study in Corporate Governance," Global Business Review, International Management Institute, vol. 13(2), pages 221-238, June.

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