After reflecting on the thematic evolution of business history as a field over the past 50 years, this revised presidential address invites readers to consider the potential payoffs of expanding the contexts in which business historians work together on research projects, as well as with colleagues from cognate fields and with students. In addition to charting the steady growth in collaborative research among business historians since 2000, the essay also identifies areas that especially lend themselves to this mode of historical inquiry, including comparative or transnational analysis that requires detailed knowledge of multiple societies, the development of oral history projects, and the use of data science techniques. It concludes by exploring the advantages of incorporating interdisciplinary research teams into curricular structures, using the example of the Bass Connections program at Duke University.

The political hazards that host country governments pose multinational companies are multifaceted and persistent. This study focuses on the experience of the Canadian subsidiary of British retailer W.H. Smith and Son in order to examine how host country policy can influence a multinational operating in the cultural industries. While bargaining models have previously provided the principal analytical lens for analyzing the interaction between multinationals and host governments, I argue that such frameworks lack the necessary nuance in order to explain fully the interaction between the Canadian government and W.H. Smith. In order to address the intricacy of these relations, it is necessary to integrate insights from new institutional economics with conventional bargaining frameworks.

Leaders of business schools and other educational institutions have enjoyed decades of stability. Today, we confront a set of systemic global challenges, including a pandemic, severe economic weakness, heightened inequality, racial injustice, and a climate emergency. Taken together, these challenges redefine the environment in which we operate—and offer us an opportunity to reimagine our organizations. We can learn about how to deal with this level of upheaval by studying how leading U.S. business schools responded to World War II. All shrank as students and faculty were drafted, most innovated in fairly traditional ways while still maintaining existing activities alongside of war-time innovations, and some pushed forward long-standing institutional change. One school choose a different path, shutting all peacetime programs as it fully committed not only to helping win a global war but, just as importantly, to forging a lasting peace—the long-term economic prosperity that followed the war. The lessons we can draw from academic leaders from nearly eighty years ago are apt today.

Banians acted as intermediaries for European merchants in Bengal. They were highly influential in the eighteenth century but their importance waned thereafter. This article reexamines their role in the nineteenth century and argues that their importance persisted but evolved in response to changes in the Bengal economy and issues of contracting and governance. It shows that the banians remained a nexus between the local and global economies, facilitating a bidirectional transfer of knowledge. They enabled the development of innovative Indian business forms and contributed to the emergence of a diverse ecology of organizational forms and ownership in Bengal at the end of the nineteenth century.

This article examines the history of the Royal Dutch Shell scenarios, from the first horizon scan exercise in 1967. It proposes that forward-looking scenarios were integrated in planning at Shell as tools for managing uncertainty in global time and space relations of oil after 1967. Specifically, the article proposes that Shell strategically used the scenarios to respond to arguments, emanating both from OPEC and from the Club of Rome, of oil as a limited resource. Shell used the scenarios to create images of a future oil market dominated by innovation, creativity, and sustainable solutions.

This study examines corporate leverage during systemic banking crises in an international setting, including 85 countries from 1987 to 2017. Using the historically determined component of institutions and exogenous variations in institution building, the analyses show that leverage cyclicality varies substantially across institutional settings. Leverage is strongly countercyclical under more binding constraints on the capital supply, suggesting important supply effects of such crises on leverage. Weak institutions are more conducive to crises and uncertainty. Leverage countercyclicality is more pronounced during crises that coincide with higher uncertainty, whereas leverage is procyclical with stronger legal systems and information sharing in capital markets.