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The strategies of the Spanish cotton textile companies before the Civil War: The road to longevity

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  • F. Javier Fernández-Roca

Abstract

This study, based on family business theories, offers an innovative vision of the Spanish cotton industry. It proves that Spanish cotton companies -- just like their European counterparts -- implemented a strategy that was consistent with their nature as family businesses and went beyond the economic-institutional frames within which they developed. The article identifies this strategy as ‘conservative’, because its main objectives were longevity and family control and because it was based on a high percentage of own resources, low levels of indebtedness and organic growth, thus sacrificing profitability for the sake of security.

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  • F. Javier Fernández-Roca, 2012. "The strategies of the Spanish cotton textile companies before the Civil War: The road to longevity," Business History, Taylor & Francis Journals, vol. 54(7), pages 1023-1054, April.
    • Handle: RePEc:taf:bushst:v:54:y:2012:i:7:p:1023-1054
    DOI: 10.1080/00076791.2012.692077
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