This study traces the evolution of corporate governance and financing structures in the Netherlands during the second half of the twentieth century. A description of Dutch shareholder rights, fi nancing structures, and networks of directors reveals the changes that have occurred in many aspects of the Dutch corporate system over the course of six decades. The case of Royal Ahold illustrates some of the developments that have taken place. Most indicate a transition from a coordinated market economy to a more liberal system. The internationalization of the Dutch economy, which has played an important role in the transition of the system, is reflected in the expansion of Dutch firms beyond the national borders and in the growing number of foreign investors in Dutch fi rms.

Independents, or nonintegrated companies, played a significant role in finding and producing crude oil in California, just as they had in Texas. They were able to do so because the resources of majors, or integrated firms, were not decisive in the search for oil. As both majors and independents increased in number, the factors of risk and uncertainty persuaded independents and majors to cooperate with each other. The case of Ralph B. Lloyd demonstrates the argument. Lloyd was a forceful individual who used his preeminent leasing position to shape the development of the Ventura Avenue field—the largest in the coastal region—through symbiotic relations with Shell and Associated. Lloyd's role is not captured in the data that scholars often use to demonstrate the dominance of m ajors in the California oil industry.

The impact of the strategies of multinational companies on the Dutch business system during the twentieth century is described in relation to two fi rms. The fi rst case examines the attitude of the Dutch (in this example, Anglo-Dutch) parent company Royal Dutch Shell toward its international subsidiaries. The second looks at the approach taken by the American company Sara Lee toward its Dutch subsidiary, Douwe Egberts. Until the 1980s, both companies were prepared to adjust their organizations to national traditions and ambitions. However, when these nationally based global fi rms came under pressure during that decade, both changed their organizational structures. Their actions can be seen both as responses to globalization and as attempts to advance that process by simultaneously building international institutions and changing elements of the national business system in the Netherlands.

The historiography of Latin America's oil industry has evolved since the period between the 1960s and the 1980s, when most scholars were focusing on the rise of nationalism in reaction to the multinationals' control of the oil sector. Beginning in the 1990s, the emergence of new methodologies enabled historians to study other aspects of the industry, such as its environmental and cultural impact, local elites' role in its development, the industry's impact on the long-term development of Latin American countries, and the organizational evolution of state-owned oil companies. However, the literature continues to be dominated by studies of Mexico, while the subject of oil consumption is largely ignored.