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The pursuit of socioemotional wealth and the management of the Hudson’s Bay Company, 1809–1863

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  • Tolly Bradford

Abstract

Although generally described as a publicly owned joint-stock company motivated to bring dividends for its investors, during one of the most important phases of its history (1809–1863), the Hudson’s Bay Company operated as a family business. This paper outlines why the HBC should be considered a family business during these years, and the significance of this for understanding both the HBC and the nature of family business more broadly. Three related arguments are made throughout: that the four families controlling the HBC were motivated by what Gomez-Mejia et al. describe as socioemotional wealth (the social and emotional value family owners ascribe to their companies); that this fact shaped company governance structure, key policy decisions, how it hired employees, and how it managed succession; and, that these different families sometimes pulled the company in contradictory directions.

Suggested Citation

  • Tolly Bradford, 2025. "The pursuit of socioemotional wealth and the management of the Hudson’s Bay Company, 1809–1863," Business History, Taylor & Francis Journals, vol. 67(8), pages 2105-2129, November.
    • Handle: RePEc:taf:bushst:v:67:y:2025:i:8:p:2105-2129
    DOI: 10.1080/00076791.2024.2409433
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