IDEAS home Printed from https://ideas.repec.org/a/cup/fihrev/v31y2024i2p123-176_1.html

Who owned Citibank? Familiarity bias and business network influences on stock purchases, 1925–1929

Author

Listed:
  • Calomiris, Charles W.
  • Oh, Elliot S. M.

Abstract

We study factors influencing individuals’ decisions to purchase Citibank stock during the 1920s. Familiarity was an important positive influence (measured outside New York by branch presence, and within New York, by network connections to existing owners). Within New York, wealth, knowledge, and one's influence within the New York City Business network also increased the probability of becoming a Citibank shareholder. The role of some network influences, like other identifiable influences, became less important during the price boom of the late 1920s, perhaps reflecting the rising importance of other means of increasing familiarity during the price boom (i.e. media coverage).

Suggested Citation

  • Calomiris, Charles W. & Oh, Elliot S. M., 2024. "Who owned Citibank? Familiarity bias and business network influences on stock purchases, 1925–1929," Financial History Review, Cambridge University Press, vol. 31(2), pages 123-176, August.
    • Handle: RePEc:cup:fihrev:v:31:y:2024:i:2:p:123-176_1
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S0968565024000155/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:fihrev:v:31:y:2024:i:2:p:123-176_1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/fhr .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.