La importància dels clubs socials a la xarxa econòmica de J.P. Morgan & Co.: acords d’associació, sindicats i adreces entrellaçades abans de la Segona Guerra Mundial
DOI:
https://doi.org/10.1344/rhiihr.41444Paraules clau:
clubs socials, bancs d'inversió, xarxes, J.P. MorganResum
Quin paper tenen els clubs socials en la promoció de les relacions de cooperació entre els agents econòmics? Mitjançant l’estudi de les xarxes històriques de banquers d’inversió als Estats Units abans de la Segona Guerra Mundial, proposem que els llaços en forma de pertinença compartida a un club social faciliten la creació estratègica de cohesió entre empreses i dins d’una mateixa empresa, la qual guia les transaccions econòmiques. El nostre treball se centra en l’empresa de Nova York J.P. Morgan & Co., el principal banc d’inversió nord-americà abans de la Segona Guerra Mundial. A traves d’anàlisis estadístiques i qualitatives, demostrem que les relacions establertes en els clubs socials van influir en la propietat de l’empresa, la participació en sindicats i la composició dels consells d’administració. El nostre estudi avança en la literatura sobre les elits socials i en la identificació de la interacció estratègica entre l’arrelament social i l’acció econòmica a traves d’organitzacions socials, destacant el paper únic dels clubs socials com a llocs històrics de col·laboració econòmica durant l’era progressista als Estats Units.
Descàrregues
Referències
Allen, Frederick Lewis. 1949. The Great Pierpont Morgan. New York: Harper & Brothers.
Allen, Greg. 2008. ‘Florida’s Palm Beach Rocked by Madoff Scandal’, NPR.org, December 16. https://www.npr.org/2008/12/16/98317793/floridas-palm-beach-rocked-bymadoff-scandal
Baltzell, E. Digby. 1964. The Protestant Establishment: Aristocracy & Caste in America. New York: Random House.
Baum, Joel A., Tony Calabr ese, and Brian S. Silverm an. 2000. ‘Don’t go it alone: Alliance network composition and startups’ performance in Canadian biotechnology’, Strategic Management Journal, 21 (3): 267-294.
Beckert, Sven. 2001. The Monied Metropolis: New York City and the Consolidation of the American Bourgeoisie, 1850-1896. New York: Cambridge University Press.
Benjamin, Beth A., and Joel M. Podolny. 1999. ‘Status, quality, and social order in the California wine industry’, Administrative Science Quarterly, 44 (3): 563-589.
Borgatti, Stephen P., and Daniel S. Halgin. 2011a. ‘On network theory’, Organization Science 22, no. 5 (2011a): 1168-1181.
Borgatti, Stephen P., and Daniel S. Halgin. 2011b. ‘Analyzing affiliation networks’, The Sage Handbook of Social Network Analysis, 1: 417-433.
Bourdieu, Pierre. 1978. ‘Sport and social class’, Social Science Information, 17 (6): 819-840.
Brezis, Elise S. and Joel Cariolle. 2019. ‘The revolving door, state connections, and inequality of influence in the financial sector’, Journal of Institutional Economics, 15 (4): 595-614.
Buckles, Peter. 2022. ‘A Historical Social Network Analysis of John Pinney’s Nevis–Bristol Network: Change over Time, the “Network Memory,” and Reading Against the Grain of Historical Sources’, Enterprise & Society, 1-32.
Burk, Kathleen. 1989. Morgan, Grenfell 1838-1988: The Biography of a Merchant Bank. New York: Oxford University Press.
Carosso, Vincent P. 1973. ‘The Wall Street Money Trust from Pujo to Medina’, Business History Review, 47 (4): 421-437.
Carosso, Vincent P. 1976. ‘A Financial Elite: New York’s German-Jewish Investment Bankers’, American Jewish Historical Quarterly (1961-1978), 66 (1): 67-88.
Carosso, Vincent P. 1981. ‘The Morgan Houses: The Seniors, Their Partners, and Their Aides’. In American Industrialization, Economic Expansion and the Law, edited by Joseph R. Frese, S. J. and Jacob Judd, 1-36. Tarrytown, New York: Sleepy Hollow Press.
Carosso, Vincent P. 1987. The Morgans: Private International Bankers, 1854-1913. Cambridge: Harvard University Press.
Cassis, Youssef. 2006. Capitals of Capital: A History of International Financial Centres, 1780-2005. New York: Cambridge University Press.
Cassis, Youssef. 1994. City Bankers, 1890-1914. New York: Cambridge University Press.
Chandler, Jr., Alfred D. 1993. The Visible Hand: The Managerial Revolution in American Business. Cambridge, MA: Harvard University Press.
Chapman, Peter. 2010. The Last of the Imperious Rich: Lehman Brothers, 1844-2008. New York: Portfolio.
Chernow, Ron. 1990. The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance. New York: Touchstone.
Chick, Joe. 2019. ‘Urban Oligarchy and Dissolutioned Voters: The End of Monastic Rule in Reading, 1350–1600’, Cultural and Social History, 16 (4): 387-411.
Clemens, Elisabeth S. 2010. ‘From City Club to Nation State: Business Networks in American Political Development’, Theory and Society, 39 (3/4): 377-396.
Clemens, Elisabeth S. 2011. ‘From city club to nation state: Business networks in American political development’. In Contention and Trust in Cities and States, edited by Michael Hanagan and Chris Tilly, 179-198. Dordrecht: Springer Netherlands.
Corey, Lewis S. 1930. The House of Morgan: A Social Biography of the Masters of Money. New York: Grosset and Dunlop.
Cotter, Arundel. 1916. The Authentic History of the United States Steel Corporation. New York: The Moody Magazine and Book Company.
Davis, G. F. 1991. ‘Agents without principles? The spread of the poison pill through the intercorporate network’, Administrative Science Quarterly, 36 (4): 583-613.
De Long, J. Bradford. 1991. ‘Did J. P. Morgan’s Men Add Value? An Economist’s Perspective on Financial Capitalism’. In Inside the Business Enterprise: Historical Perspectives on the Use of Information, edited by Peter Temin, 205-249. Chicago: The University of Chicago Press.
De Long, J. Bradford. 1992. ‘J. P. Morgan and His Money Trust’, Wilson Quarterly, 16 (4): 16-30.
Domh off , G. William. 1974. The Bohemian grove and other retreats A Study in Ruling Class Cohesiveness. New York: Harper and Row.
Domh off , G. William. 2006. Who Rules America? Power, Politics & Social Change, 5th edition. New York: McGraw Hill.
Dye, Thomas R. 1976. Who’s Running America? Institutional Leadership in the United States. Englewood Cliffs: Prentice-Hall, Inc.
Feld, S. L. 1981. ‘The focused organization of social ties’, American Journal of Sociology, 86 (5): 1015-1035.
Ferguson, Niall. 1998. The House of Rothschild: Money’s Prophets, 1798-1848. New York: Penguin Books.
Forb es, John Douglas. 1981. J.P. Morgan, Jr. 1867-1943. Charlottesville: University Press of Virginia.
Forestier, Albane. 2010. ‘Risk, Kinship and Personal Relationships in Late Eighteenth-Century West Indian Trade: The Commercial Network of Tobin & Pinney’, Business History, 52 (6): 912-931.
Granovetter, Mark. 1985. ‘Economic action and social structure: The problem of embeddedness’, American Journal of Sociology 91 (3): 481-510.
Griffin, G. Edward. 2010. The Creature from Jekyll Island: A Second Look at the Federal Reserve. Westlake Village, CA: American Media.
Gulati, Ranjay. 1995. ‘Social structure and alliance formation patterns: A longitudinal analysis’, Administrative Science Quarterly, 40 (4): 619-652.
Haggerty, John, and Sheryllynne Haggerty. 2017. ‘Networking with a network: the Liverpool African Committee 1750–1810’, Enterprise & Society, 18 (3): 566-590.
Haggerty, Sheryllynne. 2006. The British-Atlantic Trading Community, 1760–1810: Men, Women, and the Distribution of Goods. Leiden, NL: Brill.
Haggerty, Sheryllynne. 2012. “Merely for Money”? Business Culture in the British Atlantic, 1750–1815. Liverpool: Liverpool University Press.
Halgin, Daniel S., Stephen P. Borgatti., Ajay Mehr a, and Scott Soltis. 2020. ‘Audience perceptions of high‐status ties and network advantage: The market for coaching- jobs in the National Collegiate Athletic Association (2000–2011)’, Journal of Organizational Behavior, 41 (4): 332-347.
Hannah, Leslie. 2007. ‘What did Morgan’s Men Really Do?’. Discussion Paper, CIRJEF-465. CIRJE Discussion Papers. Tokyo: University of Tokyo. Faculty of Economics.
Hood, Clifton. 2011. ‘A Collision of Aspirations: Elite Men’s Clubs and Social Competition in Gilded Age New York City’. St. Louis, Missouri: 2011 Business History Conference.
Hood, Clifton. 2016. In Pursuit of Privilege: A History of New York City’s Upper Class and the Making of a Metropolis. New York: Columbia University Press.
Horn, Martin. 2002. Britain, France, and the Financing of the First World War. Montreal: McGill-Queen’s University Press.
Jackson, Kenneth T. 1985. Crabgrass Frontier: The Suburbanization of the United States. New York: Oxford University Press.
Jones, Geoffrey. 2000. Merchants to Multinationals. New York: Oxford University Press.
Jones, Geoffrey, ed. 1998. The Multinational Traders. New York: Routledge.
Kadushin, Charles. 1995. ‘Friendship among the French financial elite’, American Sociological Review, 60 (2): 202-221.
Kross, Jessica. 1999. ‘Mansions, Men, Women, and the Creation of Multiple Publics in Eighteenth-Century British North America’, Journal of Social History, 33 (2): 385-408.
Lamont, Edward M. 1994. The Ambassador from Wall Street: The Story of Thomas W. Lamont, J.P. Morgan’s Chief Executive. Lanham, MD: Madison Books.
Lewis, Hilary. 2008. ‘Country Clubs Everywhere Hit by Madoff Scandal’, Business Insider, December 15. https://www.businessinsider.com/2008/12/country-clubs-everywherehit-by-madoff-scandal (Accessed March 18, 2023).
Mayo, James M. 1998. The American Country Club: The Origins and Development. New Brunswick, NJ: Rutgers University Press.
Mills, C. Wright. 1956. The Power Elite. New York: Oxford University Press. Mintz, Beth A. and Michael Sch wartz. 1956. The Power Structure of American Business. Chicago: University of Chicago Press.
Mizruch i, Mark S. 1989. ‘Similarity of Political Behavior Among Large American Corporations’, American Journal of Sociology, 95 (2): 401-424.
Mizruch i, Mark S. 1996. ‘What do interlocks do? An analysis, critique, and assessment of research on interlocking directorates’, Annual Review of Sociology, 22 (1): 271-298.
Morrison, Alan D., and William J. Wilhelm Jr. 2007. Investment Banking: Institutions, Politics and Law. New York: Oxford University Press.
Pak, Susie J. 2013a. Gentlemen Bankers: The World of J. P. Morgan. Cambridge, MA: Harvard University Press.
Pak, Susie J. 2013b. ‘Reputation and Social Ties: J. P. Morgan & Co. and Private Investment Banking’, Business History Review, 87 (4): 703-728.
Pak, Susie J. 2017. ‘The House of Morgan: Private Family Firm in Transition’. In Decision Taking, Confidence and Risk Management in Banks from Early Modernity to the
th Century, edited by Korinna Schonharl, 15-55. Basingstoke, UK: Palgrave Mac-Millan.
Podolny, Joel M. 2001. ‘Networks as the Pipes and Prisms of the Market’, American Journal of Sociology, 107 (1): 33-60.
Porzelt, Paul. 1982. The Metropolitan Club of New York. New York: Rizzoli.
Rahm an Khan, Shamus. 2012. ‘The sociology of elites’, Annual Review of Sociology, 38: 361-377.
Ramirez, Carlos. 1995. ‘Did J. P. Morgan’s Men Add Liquidity? Corporate Investment, Cash Flow, and Financial Structure at the Turn of the Century’, Journal of Finance, 50 (2): 661-678.
Rinaldi, Alberto, Erica Salvaj, Susie J. Pak, and Daniel S. Halgin. 2023. ‘Databases, Network Analysis and Business History’, Management & Organizational History, 1-12.
Robinson, David T., and Toby E. Stuart. 2007. ‘Network effects in the governance of strategic alliances’, The Journal of Law, Economics, & Organization, 23 (1): 242-273.
Romero, Jessie. 2015. ‘Jekyll Island: Where the Fed Began. A Secret Meeting at a secluded resort led to a new central banking system’, Econ Focus, First Quarter: 3-6. https://www.richmondfed.org/publications/research/econ_focus/2015/q1/federal_reserve
Roy, William G. 1983. ‘The Unfolding of the Interlocking Directorate Structure of the United States’, American Sociological Review, 48 (2): 248-257.
Roy, William G. 1999. Socializing Capital: The Rise of the Large Corporation in America. Princeton, NJ: Princeton University Press.
Sch uby, T. D. 1975. ‘Class, Power, Kinship and Social Cohesion: A Case Study of a Local Elite’, Sociological Focus, 8 (3): 243-255.
Simon, Miguel Cantillo. 1988. ‘The Rise and Fall of Bank Control in the United States 1890-1939’, American Economic Review, 88 (5): 1077-1093.
Sklar, Martin J. 1988. The Corporate Reconstruction of American Capitalism, 1890-1916: The Market, The Law, and Politics. New York: Cambridge University Press.
Stover, John F. 1997. American Railroads. (1961). Chicago: University of Chicago Press.
Strouse, Jean. 2000. Morgan: American Financier. New York: Perennial. Union League Club of New York. 1907. New York: Styles & Cash.
Useem, Michael. 1978. ‘The inner group of the American capitalist class’, Social Problems, 25 (3): 225-240.
Westphal, James D., and Ithai Stern. 2006. ‘The other pathway to the boardroom: Interpersonal influence behavior as a substitute for elite credentials and majority status in obtaining board appointments’, Administrative Science Quarterly, 51 (2): 169-204.
Westphal, James D., and David H. Zhu. 2019. ‘Under the radar: How firms manage competitive uncertainty by appointing friends of other chief executive officers to their boards’, Strategic Management Journal, 40 (1): 79-107.
Wheeler, George. 1973. Pierpont Morgan and Friends: The Anatomy of a Myth. Englewood Cliffs: Prentice-Hall, Inc.
Wiebe, Robert H. 1959. ‘The House of Morgan and the Executive, 1905-1913’, The American Historical Review, 65 (1) (1959): 49-60.
Wright, Claire, Simon Ville, and David Merr ett. 2019. ‘Quotidian routines: The cooperative practices of a business elite’, Enterprise & Society, 20 (4): 826-860.
Zweigenhaft, Richard, and G. William Domh off . 1982. Jews in the Protestant Establishment. New York: Praeger.
Descàrregues
Publicades
Com citar
Número
Secció
Llicència
Drets d'autor (c) 2023 Revista de Historia Industrial
Aquesta obra està sota una llicència internacional Creative Commons Reconeixement 4.0.
The author assigns all rights to the publisher. Creative Commons
The author who publishes in this journal agrees to the following terms:
- The author assigns all intellectual property rights exclusively to the publisher for the entire duration of the applicable intellectual property rights.
- The publisher will distribute the texts under the Creative Commons Attribution License, which allows others to share the work, provided that they acknowledge the authorship, its initial publication in this journal, and the conditions of the license.
