An Unexplored Facet of International Business in Greece: Foreign and Diaspora Shareholders in Joint Stock Company Start-Ups, 1833-1920


  • Ioanna Sapfo Pepelasis Athens University of Economics and Business (AUEB)
  • Dimitrios Varvaritis Independent Scholar



Greece, Joint stock company, Start-up, International shareholders, Diaspora, Business strategy


This paper focuses on an unexplored aspect of the history of international business in Greece, the presence of international shareholders in Greek Joint stock company start-ups. Our main findings are that these investors participated in numerous such firms usually as minority shareholders in capital and or knowledge intensive firms. Rarely did they opt for the exclusive international ownership of a joint stock company in Greece and the dividing line  between foreign direct investment and foreign portfolio investment was not always clear. It is also the case that international capital inflow into the nascent corporate sector involved a mosaic of collaborating actors including not only the foreign but also the diasporic.

Author Biography

Ioanna Sapfo Pepelasis, Athens University of Economics and Business (AUEB)





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