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Relationship-Based Finance in Changing European Banking Scenarios: The Case of Parent Schaken et Compagnie (1835–66)

In: Financing in Europe

Author

Listed:
  • Maria Carmela Schisani

    (Università degli Studi di Napoli ‘Federico II’)

  • Francesca Caiazzo

    (Università degli Studi di Napoli ‘Federico II’)

Abstract

At a time when formal (impersonal) markets for credit were at an embryonic stage, the role of social relationships in raising funds for new ventures was crucial. ‘Investment tended to be a cumulative social process’ where trust and reputation played a role. Strong kinship and business ties linking partnership members were therefore critical in facilitating the flow of capital into new ventures. The way the diversified and broad-ranging businesses (railways, mines and public utilities) undertaken by the Paris-based partnership Parent Schaken et C.ie (P&S) were funded illustrates an important point about this topic. By making use of the basic tools of the Social Network Analysis, the authors show the P&S network of interpersonal relationships evolved and just how it mattered in facing the changing European financial scenarios, when long-term investment developed and impersonal money markets took shape.

Suggested Citation

  • Maria Carmela Schisani & Francesca Caiazzo, 2018. "Relationship-Based Finance in Changing European Banking Scenarios: The Case of Parent Schaken et Compagnie (1835–66)," Palgrave Studies in the History of Finance, in: Marcella Lorenzini & Cinzia Lorandini & D'Maris Coffman (ed.), Financing in Europe, pages 291-318, Palgrave Macmillan.
    • Handle: RePEc:pal:psitcp:978-3-319-58493-5_12
    DOI: 10.1007/978-3-319-58493-5_12
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