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2017 | OriginalPaper | Chapter

Social Capital Versus Commercial Profits: The Impact of Networks on Decision-Making in Early Modern Banks

Author : Nadia Matringe

Published in: Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century

Publisher: Springer International Publishing

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Abstract

Historians and economists have generally emphasised the role of economic, political and institutional contexts (such as monetary trends, wars, forms of regulation, etc.) in the shaping of early modern business strategies. It appears, however, that an important social factor is often neglected in such analyses: networks. Based on the records of a major sixteenth-century merchant-banking firm (the Salviati), this paper highlights the central role of networks in decision-making processes, by showing how networks impacted on the notion of profit driving the economic action of early modern banks. This is manifest at three levels, namely (1) shaping of the accounting system; (2) fixing of interest rates in deposit and exchange transactions; and (3) regulation of opportunistic behaviour.

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previous chapter Between Novelty and Fashion: Risk Management and the Adoption of Computers in Retail Banking
next chapter Risk Management, Credit and the Working of Merchants’ Networks in Early Modern Banking
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Metadata
Title
Social Capital Versus Commercial Profits: The Impact of Networks on Decision-Making in Early Modern Banks
Author
Nadia Matringe
Copyright Year
2017
Book
Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the 20th Century

Print ISBN: 978-3-319-42075-2

Electronic ISBN: 978-3-319-42076-9

Copyright Year: 2017

DOI
https://doi.org/10.1007/978-3-319-42076-9_10