Expatriate Merchants and Partnership Formation 1840–1920: Danish Merchants in Newcastle-upon-Tyne
研究19世纪纽卡斯尔丹麦商人如何基于财务、人力和社会资本而非仅信任选择商业伙伴，对经济史和商业研究者有参考价值。
Trust is often the premier concern highlighted in relation to the formation of mercantile business partnerships, the role of culture, family, and religion at the forefront. This is especially the case for expatriate communities. However, the Danish merchants of nineteenth century Newcastle-upon-Tyne, as especially demonstrated in the diaries of one of their number, Richard Steenberg, did not conform to this trend. This article investigates Steenberg and two other leading merchants, the Borries cousins, as well as some of their former employees, who typify trends within a wider body of 126 businessmen. It will show that they strategically chose partners who had complimentary supplies of financial, human, and social capital to improve the position of a shared firm, and these supplies formed the key criteria in forming or entering these businesses. The role of trust is not denied. Rather, this article seeks to direct debate toward the importance of financial, human, and social capital in commercial partnership formation in relation to trust.