Monitoring, reputation and accountability in issuing banks in mid-nineteenth-century Spain
This paper analyses the determinants of issuing banks' disclosure in the mid-nineteenth century in Spain. Our theses are that the State was the main promoter of accountability because of the public interest in the financial sector, and that banks used disclosure to gain and maintain reputation among their stakeholders in order to facilitate the circulation of their notes. This led to a high level of compliance with regulation, except in the crisis period of 1866-68, and to an increase in voluntary disclosure in bigger banks and in those that received security deposits, which were considered at this time to be a sign of reputation.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Economopoulos, Andrew J., 1990. "Free bank failures in New York and Wisconsin: A portfolio analysis," Explorations in Economic History, Elsevier, vol. 27(4), pages 421-441, October.
- R.M. Haniffa & T. E. Cooke, 2002. "Culture, Corporate Governance and Disclosure in Malaysian Corporations," Abacus, Accounting Foundation, University of Sydney, vol. 38(3), pages 317-349.
- Douglas W. Diamond & Philip H. Dybvig, 2000.
"Bank runs, deposit insurance, and liquidity,"
Federal Reserve Bank of Minneapolis, issue Win, pages 14-23.
- Gorton, Gary, 1996. "Reputation Formation in Early Bank Note Markets," Journal of Political Economy, University of Chicago Press, vol. 104(2), pages 346-97, April.
- Lucy Newton, 2007. "Change and continuity: the development of joint stock banking in the early nineteenth century," Economics & Management Discussion Papers em-dp2007-40, Henley Business School, Reading University.
- Ródenas, Clementina & Bru, Segundo, 2006. "La convertibilidad de la peseta en el siglo XIX," Revista de Historia Económica, Cambridge University Press, vol. 24(03), pages 555-578, January.
- Healy, Paul M. & Palepu, Krishna G., 2001. "Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature," Journal of Accounting and Economics, Elsevier, vol. 31(1-3), pages 405-440, September.
- Hasan, Iftekhar & Dwyer, Gerald P, Jr, 1994. "Bank Runs in the Free Banking Period," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 26(2), pages 271-88, May.
- La Porta, Rafael & Lopez-de-Silanes, Florencio & Schleifer, Andrei & Vishny, Robert, 2001.
"Investor Protection and Corporate Governance,"
Working Paper Series
rwp01-017, Harvard University, John F. Kennedy School of Government.
- Baker, Mae & Collins, Michael, 1999. "English industrial distress before 1914 and the response of the banks," European Review of Economic History, Cambridge University Press, vol. 3(01), pages 1-24, April.
- Hoag, Christopher, 2005. "Deposit drains on "interest-paying" banks before financial crises," Explorations in Economic History, Elsevier, vol. 42(4), pages 567-585, October.
- George A. Selgin & Lawrence H. White, 1994.
"How Would the Invisible Hand Handle Money?,"
Journal of Economic Literature,
American Economic Association, vol. 32(4), pages 1718-1749, December.
- Dupont, Brandon, 2007. "Bank runs, information and contagion in the panic of 1893," Explorations in Economic History, Elsevier, vol. 44(3), pages 411-431, July.
- Waymire, Gregory B. & Basu, Sudipta, 2008. "Accounting is an Evolved Economic Institution," Foundations and Trends(R) in Accounting, now publishers, vol. 2(1–2), pages 1-174, September.
- Paul Milgrom & John Roberts, 1980.
"Predation, Reputation, and Entry Deterrence,"
427, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Adams, Mike & Hossain, Mahmud, 1998. "Managerial discretion and voluntary disclosure: Empirical evidence from the New Zealand life insurance industry," Journal of Accounting and Public Policy, Elsevier, vol. 17(3), pages 245-281.
- Capie, Forrest & Collins, Michael, 1999. "Organisational Control and English Commercial Bank Lending to Industry in the decades before World War I," Revista de Historia Económica, Cambridge University Press, vol. 17(01), pages 187-210, March.
- Steven Toms & John Wilson, 2003. "Scale, scope and accountability: towards a new paradigm of British business history," Business History, Taylor & Francis Journals, vol. 45(4), pages 1-23.
- Cowen, Tyler & Kroszner, Randall, 1989. "Scottish Banking before 1845: A Model for Laissez-Faire?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 21(2), pages 221-31, May.
- Watts, Ross L & Zimmerman, Jerold L, 1983. "Agency Problems, Auditing, and the Theory of the Firm: Some Evidence," Journal of Law and Economics, University of Chicago Press, vol. 26(3), pages 613-33, October.
- Bushman, Robert M. & Smith, Abbie J., 2001. "Financial accounting information and corporate governance," Journal of Accounting and Economics, Elsevier, vol. 32(1-3), pages 237-333, December.
- W. Bentley MacLeod, 2007. "Reputations, Relationships, and Contract Enforcement," Journal of Economic Literature, American Economic Association, vol. 45(3), pages 595-628, September.
- Gorton, Gary, 1985. "Clearinghouses and the Origin of Central Banking in the United States," The Journal of Economic History, Cambridge University Press, vol. 45(02), pages 277-283, June.
When requesting a correction, please mention this item's handle: RePEc:eee:exehis:v:47:y:2010:i:4:p:403-419. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.