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Trade and Traders in Mid-Victorian LiverpoolMercantile Business and the Making of a World Port$
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Graeme Milne

Print publication date: 2000

Print ISBN-13: 9780853236061

Published to Liverpool Scholarship Online: June 2013

DOI: 10.5949/UPO9781846314261

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PRINTED FROM LIVERPOOL SCHOLARSHIP ONLINE (www.liverpool.universitypressscholarship.com). (c) Copyright Liverpool University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in LSO for personal use.date: 17 September 2021

Insecurity, Information and Reputation

Insecurity, Information and Reputation

Chapter:
(p.146) Chapter 7 Insecurity, Information and Reputation
Source:
Trade and Traders in Mid-Victorian Liverpool
Publisher:
Liverpool University Press
DOI:10.5949/liverpool/9780853236061.003.0007

This chapter addresses questions of risk, reputation, and information, specifically investigating the backdrop of key issues cited by contemporaries in their complaints about the uncertainties of the traders' lot. It also addresses the complex networks of information that surrounded the credit-worthiness of firms, and the problems faced by traders in securing sufficiently accurate information on which to base decisions. The strategies adopted to persuade a wider audience of the respectability of the new joint-stock firms are then explained. Information, reputation, co-operation, and careful image-making were important to Liverpool traders. Firms had to maintain good relations with major traders, and especially with the banking community, due to the complex circuit of information, rumour, and gossip that characterised the interplay of the trading community. It is noted that ideas of corporate image and reputation produced for the new joint-stock companies presented a process of evolution in Liverpool's business culture.

Keywords:   information, joint-stock firms, traders, reputation, co-operation, image-making, Liverpool, banking community, trading community

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