The global expansion of British insurers in the nineteenth century has been a feature of insurance history that has highlighted the strategic nature of the multinational enterprise (MNE). The growth of the Australian colonies from the mid-nineteenth century attracted the interest of these overseas insurers. This article considers the challenges these firms faced and the way in which these trials were overcome. Effective networks were important in establishing a market presence in the Australian colonies. A combination of enterprise, luck, and resilience assisted in building these links. The experience of British insurers in the colonies sheds light on the processes of MNE expansion into markets beyond their range of tacit knowledge and expertise.

This article examines the strategies employed by multinational banks to mitigate political risk following the onset of revolution in their host countries during the early twentieth century. It does so by exploring the activities of multinational banks in China during the Revolution of 1911 and its aftermath. This article first describes the measures that multinational banks took to maintain China's credit on foreign bond markets after the outbreak of revolution. It then examines how these bankers curtailed political instability by first withdrawing financial support from both the Qing government and the revolutionaries and then providing financial assistance to the new Chinese Republican government.

German corporations are characterized as having been adaptable in the face of numerous traumatizing events during the twentieth century. This article explores how firms adapted their accounting information systems during the hyperinflation of the 1920s. It suggests that responses to the crisis focused on system elements identified as key to continuing operations. Initially, firms amended selling and purchasing arrangements, modified financial reporting, and shifted managerial reporting to nonmonetary information. As inflation accelerated, human resources were diverted to maintaining critical functions, especially those related to remunerating labor. While some elements of accounting systems fell into disrepair, there were also examples of innovation.

This article examines the 1968 decision by the French mineral water company Vittel to use PVC packaging for its main product. This was the first time this type of packaging had been used for a mainstream consumer product. By examining the causes, manifestations, and consequences of this business decision, it aims to show how this model has spread and contributed to the creation of an environmentally damaging waste regime by abandoning deposit systems. The article also seeks to show, through this case, the importance of identifying social and institutional contexts to understand the trajectory of consumer products.

Voltaire's words about the London Royal Exchange, quoted by Francesca Trivellato in her important new book The Promise and Peril of Credit, represent pars pro toto a view of finance and trade—as peaceful, tolerant, antagonistic to the old segregations and brutalities of religion, and ultimately emancipatory—that entered the philosophical mainstream in the eighteenth century, that seems to at least partly form the foundations of liberal modernity, and that continues to shape the way we think about business and capitalism today (p. 139). Yet Voltaire himself was an anti-Semite who obsessed about the Jews and trafficked in old clichés about cunning Jewish merchants precisely in order to make his case for commerce as a vehicle of toleration. This and similar ironies or contradictions lie at the heart of Promise and Peril, which traces from the mid-seventeenth to the mid-twentieth century what Trivellato calls a “legend,” because it is both patently false (we now know), and was once widespread, that Jews in the Middle Ages or Renaissance invented the bill of exchange (and sometimes also marine insurance).

Mark Peterson's The City-State of Boston is a formidable work of history—prodigiously researched, lucidly written, immense in scope, and yet scrupulously detailed. A meticulous history of New England over more than two centuries, the book argues that Boston and its hinterland emerged as a city-state, a “self-governing republic” that was committed first and foremost to its own regional autonomy (p. 6). Rather than as a British colonial outpost or the birthplace of the American Revolution—the site of a nationalist struggle for independence—the book recovers Boston's long-lost tradition as a “polity in its own right,” a fervently independent hub of Atlantic trade whose true identity placed it in tension with the overtures of both the British Empire and, later, the American nation-state (p. 631).

From the technical analyses of wide ranges of scholars to the public discourse backlashes against globalization, there is a huge volume of work historicizing, quantifying, and problematizing the complex role of multinational corporations (MNCs) in international trade. The body of literature is so large that most readers rely on disciplinary boundaries to narrow the catalog, causing them to miss out on important synergies across fields. By bringing the work of historians, lawyers, and political scientists working on MNCs and international trade into conversation, we offer an expanded perspective. Our collective contribution highlights the political dimensions of MNCs within the frameworks of global economic governance, in which corporations seek to influence trade policies amid rising protectionism and coordinate their activities within industry associations while regulators struggle to hold MNC parent companies accountable to international human rights violations across their value chains. Especially in this moment of re-evaluation — and possible de-globalization following the shock of COVID-19 — our multidisciplinary analysis explains how MNCs exerted political power over trade regimes in the past, by what means they seek to shape regulatory frameworks in the present, and what the possible futures might be for big business operations in a more or less global economy.

The corporate responsibility to respect human rights was formally introduced in 2011 with the unanimous endorsement of the UN Guiding Principles on Business and Human Rights (UNGPs) by the UN Human Rights Council. It is grounded in social expectations and forms part of the companies' “social license to operate.” This paper argues that this responsibility is progressively turning into a legal duty for lead companies to respect human rights in those types of value chains which are characterized by a high level of control by a lead company over its business partners. Our argument rests on two recent legal developments. Firstly, the article analyzes the judicialization of the corporate responsibility to respect in the case law on parent company liability in various jurisdictions, which, we argue, is highly likely to have some implications in relation to certain types of value chains so as to trigger the liability of lead companies for the human rights harms arising out of the activities of entities over which they exercise sufficient control. Secondly, the article delves into the legislative developments which increasingly require lead companies to exercise due diligence so as to prevent and address adverse human rights impacts in their own activities and global value chains.