Bourdieusian capital conversion during crises of socio-political legitimacy: Sponsorship of the arts by Barclays Bank, 1972 to 1987

Jones, Ian GG ORCID: 0000-0002-6967-974X, Wong, Nicholas DD, Herrero, Marta and Smith, Andrew ORCID: 0000-0002-8589-7608 (2022) Bourdieusian capital conversion during crises of socio-political legitimacy: Sponsorship of the arts by Barclays Bank, 1972 to 1987. BUSINESS HISTORY. pp. 1-28.

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Official URL: http://dx.doi.org/10.1080/00076791.2022.2151587

Abstract

This paper advances our understanding of how organisations engage in the process of Bourdieusian capital conversion during crises of socio-political legitimacy. We do so by analysing the arts sponsorship strategies of Barclays between 1972 and 1987. During this period, Barclays faced numerous challenges to its organisational legitimacy as a result of its continued dealings in apartheid South Africa and its ability to generate extraordinary profits despite general economic malaise in Britain. As a response, Barclays increased its sponsorship of the arts, exchanging its substantial economic capital for the symbolic capital associated with high-status arts institutions. We identify the forces that facilitated and inhibited these capital exchanges and how they affected Barclays’ sponsorship strategies. This paper will be of interest to Bourdieusian scholars interested in capital exchange, to business historians interested in banking in Britain during the 1970s and 1980s, and researchers interested in the evolution of corporate sponsorship and philanthropy.

Item Type:	Article
Uncontrolled Keywords:	Barclays bank, Bourdieu, arts sponsorship, socio-political legitimacy, corporate sponsorship, historical organization studies, South Africa, Royal Shakespeare Company
Depositing User:	Symplectic Admin
Date Deposited:	25 Nov 2022 10:31
Last Modified:	18 Jan 2023 19:43
DOI:	10.1080/00076791.2022.2151587
Related URLs:	Author Publisher
URI:	https://livrepository.liverpool.ac.uk/id/eprint/3166367