Vállalatok hálózatban. Vállalati kooperáció a 20. század elején a budapesti gőzmalomiparban
Network of Companies: Corporate Co-operation in the Early Twentieth-Century Steam Mill Industry in Budapest

Summary/Abstract: Frequent occurence of the same names within an industrial sector always signify something. The analysis of the position holders before the First World War reveals a unique manifestation of this phenomenon among Budapest steam mill corporations from the 1900s. A smaller portion of personal overlaps was part of the preparation process for the merger of two companies, the Erzsébet Steam Mill Inc. and Pannónia Steam Mill Inc. The larger share of personal concentration, however, is not a sign of a similar pending merger, but a particular form of corporate co-operation. In 1904, the First Budapest Steam Mill Inc. drew the Pest Millers’ and Bakers’ Steam Mill Inc. and the Lujza Steam Mill Inc. into its sphere of interest, which continued with the Erzsébet Steam Mill Inc. in 1912, and the Pest Roller Mill Inc. in 1916. Based on the analysis of the corporate roles and the ownership of shares, as well as a surviving secret contract, the study describes the relationship between these corporations and reveals that the funding force behind this particular corporate network was, in fact, the Hungarian Commercial Bank of Pest. This business practice was an attempt to save the deteriorating position of large Budapest steam mills on the market

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