The nature and structure of trade-financial networks: Evidence from the New Zealand Pastoral sector

Business History

Volumn 42, Issue 1, 2000, Pages 41-58

  Ville, Simon ^a   Fleming, Grant ^a  

^a AUSTRALIAN NATIONAL UNIVERSITY   (Australia)

Author keywords

[No Author keywords available]

Indexed keywords

BUSINESS DEVELOPMENT; ECONOMIC HISTORY; PASTORALISM;

NEW ZEALAND;

EID: 0034011119     PISSN: 00076791     EISSN: None     Source Type: Journal    
DOI: 10.1080/00076790000000174     Document Type: Article

References (54)

1. We are grateful to James Bond, Susan Granger and Andrew Parnell for research assistance funded by an ARC small grant. Professor Forbes Munro and the participants at the Glasgow session of 'Entrepreneurs, Networks, and Business Culture' kindly provided helpful comments on some of the ideas contained in this paper. For earlier work, see S. Ville and G. Fleming, 'From Kinship to Relations Economic? The Development of Pastoral Networks in Australasia', in A. Slaven and J.F. Munro (eds.), Entrepreneurs, Networks, and Business Culture (London, 1998).
2. We elaborate upon the description of trade and financial networks found in M. Casson, Information and Organisation: A New Perspective on the Theory of the Firm (Oxford, 1997), Chapter 4.
3. W.W. Powell, 'Neither Market nor Hierarchy: Network Forms of Organisation', Research in Organisational Behaviour, Vol.12 (1990), p.303.
4. M. Alvesson and L. Lindkvist, 'Transaction Costs, Clans and Corporate Culture', Journal of Management Studies, Vol.30 No.3 (1993).
5. Powell, 'Neither Market nor Hierarchy', pp.301-4, 323; W.G. Ouchi, 'Markets, Bureaucracy and Clans', Administrative Science Quarterly, Vol.25 (1980), p.137.
6. Powell, 'Neither Market nor Hierarchy', pp.301-4, 323; W.G. Ouchi, 'Markets, Bureaucracy and Clans', Administrative Science Quarterly, Vol.25 (1980), p.137.
7. Powell, 'Neither Market nor Hierarchy', pp.322-3.
8. Ibid., pp.303-5, 325; R.G. Eccles and D.B. Cranes, 'Managing through Networks in Investment Banking', California Management Review, Vol.30 No.1 (1987), pp.177-81; M.J. Piore and C.F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984).
9. Ibid., pp.303-5, 325; R.G. Eccles and D.B. Cranes, 'Managing through Networks in Investment Banking', California Management Review, Vol.30 No.1 (1987), pp.177-81; M.J. Piore and C.F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984).
10. Ibid., pp.303-5, 325; R.G. Eccles and D.B. Cranes, 'Managing through Networks in Investment Banking', California Management Review, Vol.30 No.1 (1987), pp.177-81; M.J. Piore and C.F. Sabel, The Second Industrial Divide: Possibilities for Prosperity (New York, 1984).
11. M. Casson, Information and Organisation: A New Perspective on the Theory of the Firm (Oxford, 1997); idem, 'Institutional Economics and Business History: A Way Forward?" Business History, Vol.39 No.4 (1997), pp.151-71.
12. M. Casson, Information and Organisation: A New Perspective on the Theory of the Firm (Oxford, 1997); idem, 'Institutional Economics and Business History: A Way Forward?" Business History, Vol.39 No.4 (1997), pp.151-71.
13. Casson, Information and Organisation, pp.131-3.
14. Ibid, pp.139-41.
15. J.H. Angus, Donald Reid Otago Farmers Ltd: A History of Service to the Farming Community of Otago (Dunedin, 1978), p.83.
16. Ibid., p.85.
17. Agents also attracted clients by assuming some responsibility for community-wide matters, including acting as legal and political advocate, and providing finance for infrastructure improvements such as road, railway and port development.
18. Hocker Archives, University of Otago (hereafter HA/UO), NMA, UN 28, Box 10, Special London letterbook, 26/6/1923 and AGM of 6/7/1920.
19. T. Brooking, 'Superficial Similarities: Why did Farmer Protests Assume such Different Forms in Late Nineteenth-Century New Zealand and the USA?' in J. Phillips (ed.), New Worlds? The Comparative History of New Zealand and the United States (Wellington, 1989), pp.113-55. This point was also made by F.B. Stephens, 'Co-operation in New Zealand', in H. Belshaw, D. Williams and F. Stephens (eds.), Agricultural Organisation in New Zealand (Melbourne, 1936), pp.745-63. Nevertheless, in some regions (for example, Otago in the 1880s) stock and station agents and grain merchants provided scapegoats for an outburst of anti-middleman sentiment;
20. T. Brooking, 'Superficial Similarities: Why did Farmer Protests Assume such Different Forms in Late Nineteenth-Century New Zealand and the USA?' in J. Phillips (ed.), New Worlds? The Comparative History of New Zealand and the United States (Wellington, 1989), pp.113-55. This point was also made by F.B. Stephens, 'Co-operation in New Zealand', in H. Belshaw, D. Williams and F. Stephens (eds.), Agricultural Organisation in New Zealand (Melbourne, 1936), pp.745-63. Nevertheless, in some regions (for example, Otago in the 1880s) stock and station agents and grain merchants provided scapegoats for an outburst of anti-middleman sentiment;
21. see Brooking, 'Superficial similarities', pp.121-2, Stephens, 'Co-operation', p.745.
22. see Brooking, 'Superficial similarities', pp.121-2, Stephens, 'Co-operation', p.745.
23. By 1900 42 per cent of dairy factories were co-operatives. For a list of co-operative dairy companies, see A.H. Ward, A Command of Cooperatives (New Zealand Dairy Board, 1975), pp.236-40.
24. Stephens, 'Co-operation', p.749; see also H. Belshaw, The Provision of Credit with Special Reference to Agriculture (Cambridge, 1931), pp.272, 276.
25. Stephens, 'Co-operation', p.749; see also H. Belshaw, The Provision of Credit with Special Reference to Agriculture (Cambridge, 1931), pp.272, 276.
26. On the New Zealand Dairy Finance Company, see H. Belshaw, 'The Financing of Land Purchases and of Farming Operations', in Belshaw, Williams and Stephens, Agricultural Organisation, pp.168-72, and Stephens, 'Co-operation', pp.749-55.
27. On the New Zealand Dairy Finance Company, see H. Belshaw, 'The Financing of Land Purchases and of Farming Operations', in Belshaw, Williams and Stephens, Agricultural Organisation, pp.168-72, and Stephens, 'Co-operation', pp.749-55.
28. The economic success of some of these producer boards is examined in F. Capie, 'The First Export Monopoly Control Board', Journal of Agricultural Economics (1978), pp.133-41.
29. See also Belshaw, 'Financing of Land', pp.162-7, and Provision of Credit, pp.264-84.
30. See also Belshaw, 'Financing of Land', pp.162-7, and Provision of Credit, pp.264-84.
31. Belshaw, Provision of Credit, p.273.
32. Ibid., p.279.
33. The informational advantages enjoyed by local co-operatives was noted by several contemporary commentators; see, for example, ibid., pp.273, 279;
34. Belshaw, 'Financing of Land Purchases', p.171.
35. UN 28, letterbooks of J.M. Ritchie, 1865.
36. Angus, Reid, pp.15, 37, 57; J.C. Irving, A Century's Challenge. Wright Stephenson and Co. Ltd, 1861-1961 (Wellington, 1961) p.18; HA/UO, Stronach Morris (hereafter SM) UN 14 letterbooks, 15 April, 1911;
37. Angus, Reid, pp.15, 37, 57; J.C. Irving, A Century's Challenge. Wright Stephenson and Co. Ltd, 1861-1961 (Wellington, 1961) p.18; HA/UO, Stronach Morris (hereafter SM) UN 14 letterbooks, 15 April, 1911;
38. Angus, Reid, pp.15, 37, 57; J.C. Irving, A Century's Challenge. Wright Stephenson and Co. Ltd, 1861-1961 (Wellington, 1961) p.18; HA/UO, Stronach Morris (hereafter SM) UN 14 letterbooks, 15 April, 1911;
39. Fletcher Challenge Archives Centre (hereafter FCAC), Wright Stephenson (hereafter WS) 0001, Annual Report, 1920.
40. Angus, Reid, pp.31, 89, 91-2.
41. G. Parry, NMA: The Story of the First Hundred Years of the National Mortgage and Agency Company of New Zealand, 1864-1964 (Wellington, 1964), pp.67, 73.
42. HA/UO, SM, UN 25/68/2, 'Stronach Morris and Co. Ltd', p.1; Angus, Reid, pp.48-9, 69, 82, 124.
43. Angus, Reid, pp.28, 41-2.
44. UN 28. GM outward letters, 1946.
45. Stronach Morris and the sheep dip producer, Ness & Company, entered into a joint arrangement to hire a traveller who would seek to sell the dip and acquire new business for Stronach Morris simultaneously. Stronach Morris was a small firm and this provided a useful means to reduce its costs. HA/UO, SM, UN 14, letterbooks, 25/10/97.
46. UN28, GM outward letters, 1948.
47. Ibid., 1926.
48. Ibid., 1924.
49. Parry, NMA, pp.103, 110-12.
50. FCAC, WS 0001, annual reports.
51. FCAC, WS 0585. Report by W.D. Hunt to the Management Committee of Wright Stephenson, 1906.
52. HA/UO, Otago Farmers' Co-operative (hereafter OFC), Board Minutes, vol.6, Sept. 1930.
53. HA/UO, OFC Board Minutes, vol.8, Feb. 1935.
54. Casson, Information and Organisation, pp.131-3.