Seminars

Business and Financial History Seminar

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Upcoming events

• Wednesday 12 April 2023 16:00-17:30

  R1-14 Campus Jourdan

  BERTILORENZI Marco (University of Padua) : French mining capitalism abroad. The international mobility of French civil mining engineers, 1880-1980".

• Wednesday 12 April 2023 16:00-17:30

  BERTILORENZI Marco (University of Padua) : *

• Wednesday 7 June 2023 16:00-17:00

  R1-14

  MITCHENER Kris (Leavey School of Business) : Should I stay or should I go? Evidence on Dynamic Secessions from the U.S. Civil War

  Abstract

  What propels secession? A viable outside option should be the first condition to se- cede. This paper emphasizes the importance of strategic interactions between seceders to define this viable outside option. We propose a stylized model to define these “dynamic secessions” and how information shape them. Using the canonical case of the secession of southern U.S. states in the 1860s and novel, hand-collected daily sub-sovereign bond data from the NYSE, we illustrate how financial market reacted to three different types of information. First, we show that financial markets priced “secession risk” after the election of President Lincoln in the fall of 1860 – when Southern states’ diverged and long before war broke out between the Confederacy and the Union. Second, yields on the bonds of seceding states decreased as the number of states seceding increased, sug- gesting that financial markets priced the viability of the Confederacy. Third, evidence of within-state heterogenetiy in preferences increased a state’s secession risk

Archives

• Wednesday 29 March 2023 16:00-17:30

  R1-14 Campus Jourdan

  RUTHERFORD Janette (The Open University) : The forgotten activists: UK and USA shareholder committees of investigation, 1890-1940

• Wednesday 22 February 2023 16:00-17:30

  Salle R1.14, Campus Jourdan

  VAN MENXCEL Kevin (University of Antwerp) : The Cross-Section of Corporate Bond Returns: Evidence from an Elusive Past

• Wednesday 1 February 2023 16:00-17:30

  Via ZOOM

  MARTIN Jamie (Harvard University) : The Meddlers: Sovereignty, Empire, and the Birth of Global Economic Governance – Harvard University Press .14 juin 2022

• Wednesday 25 January 2023 16:00-17:30

  Salle R1.14, Campus Jourdan

  VIALLET - THEVENIN Scott (Sciences Po) : Le réseau des grandes entreprises coloniales françaises de 1885 à 1939

• Wednesday 30 November 2022 16:00-17:30

  Salle R1.13, Campus Jourdan

  VELDE François (Federal Reserve Bank of Chicago) : Debt restructuring in Britain in the early 18th c., winners and losers

• Wednesday 19 October 2022 16:00-17:30

  Salle R1.13 Campus Jourdan

  ROBERTSON Charlotte (Harvard) : Integral Outside: The Marseille Coulisse, the Electric Telegraph, and the Politics of Pricing in Second Empire France

• Wednesday 12 October 2022 16:00-17:30

  Salle R1.14, Campus Jourdan

  CADOREL Jean-Laurent (PSE) : The french historical yield curve since 1870

• Wednesday 28 September 2022 16:00-17:30

  Salle R1.14, Campus Jourdan

  HANNAH Leslie (LSE) : Large quoted manufacturing employers circa 1880: why the UK and France led the US in the scale and scope of enterprise and the divorce of ownership from control

• Wednesday 8 June 2022 16:00-17:30

  Salle R1.14, Campus Jourdan

  JABKO Nicolas (Johns Hopkins University ) : The ECB’s new normal and the changing politics of money after 2007 - La nouvelle normalité de la Banque Centrale Européenne

  Abstract

  This chapter challenges a widespread view that the European Union of the 2010s stuck to, and later reluctantly abandoned, a neoliberal “Frankfurt consensus” of price stability and fiscal restraint pushed by the European Central Bank. As I argue, the ECB did political work to establish what I call a new normal, ultimately squeezing crisis-time unconventional actions into its policy repertoire. The ECB is at the origin of EU fiscal retrenchment, but then it lost control of its creature. Increasingly, ECB leaders questioned and even resisted the Frankenstein-like politics of austerity. They alienated doctrinaire fiscal conservatives early on, including those on the ECB Governing Council. In adopting unconventional policies of unprecedented monetary expansion, and later in tacitly supporting greater fiscal accommodation, the ECB evolved into a rather agile central bank. This decade-long evolution helps to understand why, in response to the pandemic, the ECB quickly stepped up its asset purchases and became an advocate for an ambitious fiscal expansion at the EU level. Far from utilizing the ECB’s independence to singlemindedly pursue neoliberal policies, ECB leaders pushed back against rigid conservative attitudes among central banks, eurozone governments, and segments of the public.

• Wednesday 18 May 2022 16:00-17:30

  Salle R1.14, Campus Jourdan

  CONDORELLI Stefano (Université de Berne) : Price momentum and analysis of sentiment through news (using Natural Language Processing): a new approach to compare booms and crashes in asset markets across centuries (18th-21st century)

• Wednesday 20 April 2022 16:00-17:30

  Salle R1.14, Campus Jourdan

  LYONS Ronan (Trinity College Dublin) : US housing prices over the long-run

• Wednesday 30 March 2022 16:00-17:30

  Salle R1.14, Campus Jourdan

  EFFOSSE Sabine (Université Paris Nanterre) : The banking emancipation of married women in 20th Century France

• Wednesday 23 March 2022 14:30-16:00

  Salle R2.21, Campus Jourdan

  HOŠMAN Mirek Tobiáš (University of Bologna) : No Longer a Bank: The Economists’ Takeover at the World Bank

• Wednesday 16 March 2022 16:00-17:30

  Salle R1.14, Campus Jourdan

  MAJERUS Benoît (Université du Luxembourg) : Holdings financières au Luxembourg

• Wednesday 9 March 2022 16:00-17:30

  Salle R1.14, Campus Jourdan

  PITTELOUP Sabine (Université de Genève) : Avoir foi en la libre entreprise: Nestlé, ses actionnaires religieux et la politisation de l'Eglise (1970-1990)

• Wednesday 16 February 2022 14:00-15:30

  On line

  SHIZUME Masato (Waseda University) : Financial development in Japan during the pre-modern period (17-19C)

  Abstract

  The feudal lords of the Edo Period (1603-1867) were required by law to rotate back and forth between Edo and their home territories every two years, and their families were required to live in Edo permanently. The lords collected taxes mainly in the form of rice and other agricultural commodities and sold substantial portions of those commodities to acquire cash to fund their households and activities in Edo and travels between Edo and home. Merchants in domain territories and Osaka were engaged in trade and finance for and with the domains as well as of their own. Following the opening of the treaty ports in 1859 and Meiji Restoration in 1868, Japan instituted a series of drastic reforms. Among other entities, national banks structured as joint stock companies according to the US model played a key role in the modernization of the country by providing the society with liquidity and integrating the national financial markets. Empirical evidence suggests that commoners who engaged in commercial activities in the late Edo to the early Meiji Period played a key role in Japan’s modernization.

• Wednesday 1 December 2021 16:00-17:30

  Séminaire annulé

  DE VICQ Amaury (PSE) : Caught Between Outreach and Sustainability: The Rise and Decline of Dutch Credit Unions

• Wednesday 17 November 2021 16:00-17:30

  Salle R2.21, Campus Jourdan

  GALBIATI Roberto : J'Accuse ! Antisemitism and Financial Markets in the Time of The Dreyfus Affair

• Wednesday 3 November 2021 16:00-17:30

  Salle R2-21, Campus Jourdan

  MACHIELSEN Bas (Utrecht University) : Political Rents under a Changing Electoral System

• Wednesday 6 October 2021 16:00-17:30

  Salle R1.14, Campus Jourdan

  ASTORE Marianna (PSE) : The industrial intervention of the Bank of Italy (1893-1936). Another Gerschenkronian factor in the Italian economic development?

• Wednesday 16 June 2021 17:00-18:30

  FLIERS Philip (Queen s University in Belfast) : Was Marshall Right? Managerial Failure and Corporate Ownership in Edwardian Britain

  with Michael Aldous et John Turner.

• Wednesday 2 June 2021 17:00-18:30

  LABARDIN Pierre (Univ. Paris Dauphine - PSL) : La production et l’usage du prix de revient des entreprises coloniales françaises : Le cas du caoutchouc en A.E.F (1899-1945)

  FABRE ANTOINE (Univ. Paris Dauphine - PSL)

• Wednesday 19 May 2021 17:00-18:30

  GRANDI Elisa (PSE) : Banks, networks and crisis before WWI

  HEKIMIAN Raphaël (ISG)

  RIVA Angelo (European Business School and PSE)

• Wednesday 5 May 2021 17:00-18:30

  DE VICQ Amaury (PSE) : Great Depression and flight-to-safety in the Netherlands

  Rubens Peeters

• Wednesday 24 March 2021 16:00-17:30

  PHILIPPE Aurélie (IDHE.S / Sorbonne IHES) : Le Comité des Houillères et ses réseaux de pouvoir : la mise en place de stratégies d'influence au service des compagnies minières (1887-1939)

• Wednesday 10 March 2021 17:00-18:30

  STEINFELD Frederic (University of Gothenburg) : De-Coding the Image of the Firm: How Balance Manipulation Changes the Perspective on Historical Company Performance

• Wednesday 17 February 2021 17:00-18:30

  via Zoom

  BONHOURE Emilie (PSE) : An Original Solution to Agency Issues among Pre-WWI Paris-Listed Firms: the Statutory Rule of Profit Allocation

• Wednesday 10 February 2021 17:00-18:30

  via Zoom

  PEETERS Ruben (Utrecht University) : Government intervention in Dutch SME financing, 1900-1940

• Wednesday 27 January 2021 17:00-18:30

  via Zoom

  AVARO Maylis (Graduate Institute, Genève) : Zombie International Currency, the pound sterling, 1945-1971

  Abstract

  This paper provides new evidence on the decline of sterling as an international currency, focusing on its role as foreign exchange reserve asset under the Bretton Woods era. Using a unique new dataset on the composition of foreign exchange reserves of central banks, I show that the shift away from the sterling occurred earlier than conventionally supposed for the countries not belonging to the sterling area. The use of sterling has been described as freely chosen, imposed by the Bank of England or negotiated. I argue that the sterling area was a captive market as the Bank of England used capital controls, commercial threats and economic sanctions against sterling area countries to limit the divestments of their sterling assets. This management of the decline of sterling benefited mostly Britain and the City of London but represented a cost for sterling area countries and the international monetary system.

  Full text [pdf]

• Wednesday 16 December 2020 10:30-12:00

  Via Zoom

  BUELENS Frans (University of Antwerp) : The Belgian Railways: financing, investors and performances

• Wednesday 2 December 2020 17:00-18:30

  Via Zoom

  CADOREL Jean-Laurent (PSE) : An international Monetary Explanation of the 1929 Crash of the New York Stock Exchange

• Wednesday 18 November 2020 17:00-18:30

  Via Zoom

  LABARDIN Pierre (Univ. Paris Dauphine - PSL) : La Réévalution des bilans des entreprises pendant l'entre-deux-guerres

• Wednesday 4 November 2020 17:00-18:30

  Via Zoom

  PASTORE Thomas : The Belle-Epoque of Portfolios? How return, risk and diversification correlated with the wealth distribution in Paris in 1912

• Wednesday 24 June 2020 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 Bd Jourdan 75014 Paris

  Histoire Financière

• Wednesday 27 May 2020 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 Bd Jourdan 75014 Paris

  COLLET Stéphanie (Goethe-Universitaet Frankfurt am Main) : Histoire Financière : TBA

• Wednesday 27 May 2020 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 Bd Jourdan 75014 Paris

  Histoire Financière

• Wednesday 13 May 2020 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 Bd Jourdan 75014 Paris

  COLLET Stéphanie (Goethe-Universitaet Frankfurt am Main) : Histoire Financière

• Wednesday 29 April 2020 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 Bd Jourdan 75014 Paris

  ATELIER DFIH

• Wednesday 1 April 2020 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 Bd Jourdan 75014 Paris

  LABARDIN Pierre (Univ. Paris Dauphine - PSL) : Séance annulée et reportée

• Wednesday 18 March 2020 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 Bd Jourdan 75014 Paris

  SATO Hideki (Kanazawa U. ) : Séance annulée et reportée

• Wednesday 4 March 2020 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 Bd Jourdan 75014 Paris

  FLIERS Philip (Queens University of Belfast) : Corporate Taxes and Debt under the Nazi Occupation

• Wednesday 5 February 2020 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 Bd Jourdan 75014 Paris

  ATELIER DFIH

• Wednesday 22 January 2020 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 Bd Jourdan 75014 Paris

  MOLTENI Marco (University of Oxford) : Financial deepening gone wrong? Italian banking crises in 1926-36: determinants of distress

• Wednesday 8 January 2020 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 Bd Jourdan 75014 Paris

  ATELIER DFIH

• Wednesday 18 December 2019 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 bd Jourdan 75014 Paris

  ATELIER DFIH

• Wednesday 11 December 2019 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 bd Jourdan 75014 Paris

  FOURIE Johan (Stellenbosch University) : Firm survival during war: evidence from limited liability records and the Anglo-Boer War

• Wednesday 27 November 2019 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 bd Jourdan 75014 Paris

  ARTOLA BLANCO Miguel (Universidad Carlos III, Madrid) : Household asset returns and portfolio composition: Spain, 1900-2017

• Wednesday 20 November 2019 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 bd Jourdan 75014 Paris

  BONHOURE Emilie (PSE) : ATELIER DFIH : Emilie Bonhoure sur les règles de distribution des profits

• Wednesday 30 October 2019 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 bd Jourdan 75014 Paris

  Histoire Financière

• Wednesday 16 October 2019 17:00-19:00

  Salle R1.10 Campus Jourdan 48 Bd Jourdan 75014 Paris

  GRANDI Elisa (PSE) : ATELIER DFIH : Elisa Grandi sur les réseaux

• Wednesday 2 October 2019 17:00-19:30

  VERDICKT Gertjan (Anvers) : Go Active or Stay Passive: Investment Trusts, Financial Innovation and Diversification in an Emerging Market

• Wednesday 2 October 2019 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 bd Jourdan 75014 Paris

  VERDICKT Gertjan (Anvers) : Go Active or Stay Passive: Investment Trusts, Financial Innovation and Diversification in an Emerging Market”

  with Jan Annaert

• Wednesday 18 September 2019 17:00-19:00

  Salle R1.10 Campus Jourdan, 48 Bd Jourdan 75014 Paris

  ATELIER DFIH : Pierre-Cyrille Hautcoeur sur les dividendes

• Saturday 8 June 2019 17:00-18:15

  Campus Jourdan, bâtiment G, rez-de-chaussée, salle 8

  Nouveau Séminaire