Monitoring, reputation and accountability in issuing banks in mid-nineteenth-century Spain

Juan Pedro Sánchez-Ballesta and Mercedes Bernal Lloréns

Explorations in Economic History, 2010, vol. 47, issue 4, 403-419

Abstract: 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.

Keywords: Issuing; banks; Disclosure; Reputation; Financial; history (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0014-4983(10)00025-2
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:exehis:v:47:y:2010:i:4:p:403-419

Access Statistics for this article

Explorations in Economic History is currently edited by R.H. Steckel

More articles in Explorations in Economic History from Elsevier
Bibliographic data for series maintained by Catherine Liu ().