Introduction 1. The age of private bankers, 1780-1840 2. The concentration of capital, 1840-75 3. A globalised world, 1875-1914 4. Wars and depression, 1914-45 5. Growth and regulation, 1945-80 6. Globalisation, innovation and crisis, 1980-2009 Conclusion Glossary.

Capitals of capital : a history of international financial centres, 1780-2005

We provide here a complement to recent work on family business, which has demonstrated the need to go beyond the generic definition of the family firm to place personal capitalism in an appropriate institutional, historical, and cultural framework. By focusing on the nineteenth‐ and twentieth‐century experiences in Britain, Spain, and Italy, we challenge the notion that in the nineteenth and twentieth centuries there was anything so simple as a Mediterranean model for family business. Rather, we demonstrate the need to consider family businesses in national and regional contexts if we are to understand their various capabilities and characteristics. We use similarities and differences in the experiences and responses of families and firms in the three countries to support this claim.

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National determinants of family firm development? Family firms in Britain, Spain and Italy in the nineteenth and twentieth centuries

What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the long run? Which particular assets have the highest long-run returns? We answer these questions on the basis of a new and comprehensive data set for all major asset classes, including housing. The annual data on total returns for equity, housing, bonds, and bills cover 16 advanced economies from 1870 to 2015, and our new evidence reveals many new findings and puzzles.

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The Rate of Return on Everything, 1870–2015

Investment in Capital Markets creates a strategic vision on the financial capital investment in the capital markets with the aim to get an increased return premium in the short and long time periods. The book is written with a main goal to explain the pros and cons of the financial capital investment in the capital markets, discussing the sophisticated investment concepts and techniques in the simple understandable readable general format language. We would like to highlight the three interesting facts about the book: 1. It is centered on the consideration of the modern investment products, the investment vehicles and the investment mediums for the financial capital investment in the capital markets; 2. It is focused on the financial risk calculation and mitigation techniques for the financial capital investment in the financial capital markets. 3. It is aimed to describe the quantum winning virtuous investment strategies creation and execution techniques during the financial capital investment in the capital markets. The investors, financiers, economists, financial analysts, financial traders, financial advisers, lawmakers, policy analysts, subject experts, professors, and students will certainly enjoy a breathtaking splendid learning journey with the explained new ideas, established concepts and outlined future prospects toward the financial capital investment in the capital markets with the aim to get an increased return premium in the short and long time periods.

Investment in capital markets

In 1900 US business corporations were dominated by plutocratic family owners, while British and French quoted companies showed higher levels of divorce of shareholding owners from management controllers. Distinctive European ‘democratic’ corporate governance rules explain some of Europe's precocity and London's distinctive listing requirement of large ‘free floats’ was an important initial factor in manufacturing. Later in the twentieth century, the United States displaced France by further divorcing ownership from control. Business historians should direct their efforts to understanding why Britain was an early pioneer with persistent wide shareholding, why America took decades to catch up and why other countries did not build on their earlier lead (or even married ownership and control more closely). The pursuit of alternative (largely imagined) histories of national ownership differences could usefully be curtailed.

The ‘Divorce’ of ownership from control from 1900 onwards: Re-calibrating imagined global trends

La politique monetaire et financiere de la Confederation suisse, 1900-1920

French banks faced severe organisational problems in the 1910s and 1920s when the scale of their operations grew dramatically as a result of the broadening of the customer base among personal investors and of the boom in discount activities, both of which required increased levels of bookkeeping. In the meanwhile, due to inflation and trade-union pressure, wages had increased. This led to French banks adopting a strategy of sharing information with German banks, which already seem to have developed the process of mechanising bookkeeping operations. Knowledge exchanges were set up with German (and Belgian) bankers so as to accelerate the transfer of organisation (re-engineering) skills and data-processing. Banks in the Alsace region were pioneers in this movement; but several big banks did not wait long before introducing a policy of investing in machines and new platforms for tackling dataprocessing. The 1920s and the 1930s thus represent a key stage in the transformation of French banks into actual service ‘organisations’.

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The development of accounting machines in French banks from the 1920s to the 1960s

L'Etat, les finances et l'economie. Histoire d'une conversion, 1932-1952

Our text does not intend to develop a history of French banks' Europeanisation, but instead to scrutinise the mentalities of French bankers, in order to determine whether they were confined to relationships with French business or embedded within networks of personal relations with their European colleagues. Did some French bankers follow a career more oriented\ towards international activities and were they involved in international travels? Were some bankers committed to designing European strategies and thereafter to implement them through a direct presence in those foreign countries? Did some bankers emerge as key managers of Europeanised strategies and what was their influence within their banking firms? Of course, answers will be relevant to the chronological stages, to assess, for example, whether the decline of the Haute Banque houses was unfavourable to Europeanisation, to analyse how the new joint stock banks adopted a Europeanised business model, and whether deposits banks and investment banks ...

Hubert Bonin

Papers

La politique monetaire et financiere de la Confederation suisse, 1900-1920

The development of accounting machines in French banks from the 1920s to the 1960s

L'Etat, les finances et l'economie. Histoire d'une conversion, 1932-1952

Europeanised French bankers? (From the 1830s to the 1970s)

Histoire économique de la IVe République