Reputation and Social Ties: J. P. Morgan & Co. and Private Investment Banking

Susie J. Pak

Business History Review, 2013, vol. 87, issue 4, 703-728

Abstract: Focusing on the private investment bank of J. P. Morgan & Co., this article examines the unique perspective that the history of private investment banking offers the study of reputation with regard to the role of social ties. Drawing from a larger study that looks at intersecting social and economic networks of New York private bankers before the Second World War, the article studies the ways in which the Morgan partners' social networks worked to maintain their reputation by creating an institutional structure for firm cohesion, establishing access to information and resources outside the firm, and fostering a culture of exclusivity that signaled the firm's standing and its ties relative to their competitors or other elite bankers.

Date: 2013
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