This paper deals with different approaches to business history. It argues that conflicting choices about methodology and subject can enrich a discipline, but that some of the current disputes among business historians produce unnecessary opportunity costs and block a more integrated understanding of how firms function in their larger social, political and economic contexts. The paper provides examples of how the separation in the field works against writing business history that is at once rigorous and appeals to broad audiences. It also suggests two approaches for bridging methodological differences. The first calls for reviving some basic historiographical notions. The second involves developing a closer relationship with business to gain more access to private, primary source materials. German experiences are drawn on to show how mutually beneficial academic-business cooperation can be.business history, methodology, theory in the social sciences, historiography, business-academic cooperation,
Historical narratives have enriched, and can even do more to enhance, the concept of corporate reputation by deepening our understanding of how reputation changes over time and among different stakeholders. This literature review highlights this theme of reputation for two audiences—business historians and corporate reputation theorists. By showing how different social and political contexts shape expectations for business behavior, historical study can add new dimensions to the study of corporate reputation.
This examination of the foundations of German and American corporate governance highlights the role of money-centered banks, both as board members in large corporations and as intermediaries on the stock exchange. German banks, by acting as surrogate regulators, became institutional stabilizers, and German regulators encouraged banks to participate in corporate boards in order to overcome agency problems in firms and to control speculation. American investment banks, prior to 1914, often managed to overcome regulatory obstacles, which enabled them to wield more power over corporations than their legendary German counterparts. American banks had more opportunities to intervene in the event of panics, bankruptcies, foreign investment, and corporate consolidation. In contrast to Germany, the United States increasingly imposed regulations that circumscribed the supervisory role of banks as board members.
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