Extreme divorce
The managerial revolution in UK companies before 19141
Datos Bibliográficos
| ID | 3530301 |
|---|---|
| Autores | James Foreman‐peck, James Foreman–peck (0000-0001-9826-5725, Cardiff University), Leslie Hannah (0000-0003-0839-7412, London School of Economics and Political Science) |
| Año | 2012 |
| Volumen | 65 |
| Número | 4 |
| Páginas | 1217-1238 |
| Fecha de publicación | 2012-11-01 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | The Economic History Review (JOURNAL) |
| Identificadores de la revista | ISSN: 0013-0117 • E-ISSN: 1468-0289 |
| Editorial | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1468-0289.2011.00637.x |
| OpenAlex | W1874327518 |
| Idioma | EN |
| Citas recibidas | 30 |
| Referencias citadas | 57 |
We present the first broadly representative study for any early twentieth-century economy of the extent to which quoted company ownership was already divorced from managerial control. In the 337 largest, independent, UK companies in the Investor's year book (those with £1 million or more quoted share capital in 1911), the generality of public shareholders were a narrower group than today, but directors personally owned only 3.4 per cent of the shares. This indicates a lower level of personal ownership (and board voting control) in the largest securities market of the early twentieth century than in any of the world's major securities markets toward the end of that century. Berle, Means, Gordon, and others subsequently quantified the US's later and (on this dimension) less advanced managerial 'revolution'. Their evidence was widely misinterpreted: some erroneously concluded that the US pioneered this aspect of 'modernity' and that the 'divorce' of ownership from control, globally, was a new and continuing trend
Business · Capital (architecture) · Capital market · Control (management) · Corporate governance · Dimension (graph theory) · Economic history · Economics · Generality · Industrial Revolution · Management · Market economy · Modernity · Political science · Politics · Shareholder · Voting · Accounting · Banking stability, regulation, efficiency · Corporate Finance and Governance · Finance · Historical Economic and Social Studies · History · Law
Some consequences of the early twentieth-century British divorce of ownership from control
Ownership dispersion and the London Stock Exchange's ‘two-thirds rule’
Association football and the administrators who made it, c. 1863–1914
The limits of control
A Nation of Investors or a Procession of Fools? Reevaluating the Behavior of Britain’s Shareholding Population through the Prism of the Interwar Sharepushing Crime Wave
The Dawn of Shareholder Value
The Rise of the Small Investor in the United States and United Kingdom, 1895 to 1970
Corporate Law Versus Social Autonomy
Who comprised the nation of shareholders? Gender and investment in Great Britain, c. 1870–1935
The depth and breadth of capitalism at the Cape
Inside the Dynamics of Industrial Capitalism
Active Controllers or Wealthy Rentiers? Large Shareholders in Victorian Public Companies
Contractual Freedom and Corporate Governance in Britain in the Late Nineteenth and Early Twentieth Centuries
Succession and inheritance in Scottish business families, c.1875–1935
Corporations in the US and Europe 1790–1860
Share trading activity and the rise of the rentier in the UK before 1920
Does the law and finance hypothesis pass the test of history
British IPO directors, 1891–1911
The sources of scale
Was Marshall Right? Managerial Failure and Corporate Ownership in Edwardian Britain
The London Stock Exchange, 1869-1929
The incidence and persistence of partnerships in a British industrial city
Large-scale Victorian manufacturers
A global corporate census
The diffusion and impact of the corporation in 1910
Independent women
Individual investors and local bias in the UK, 1870-1935
Individual investors and social ownership structures in the UK before the 1930s
Three centuries of corporate governance in the United Kingdom
Corporate ownership and control in Victorian Britain
A History of Corporate Governance around the World
Modern Corporation and Private Property
Men, Women, and Money
London Clerical Workers, 1880–1914
The World Economy
Global Electrification
Scale and Scope
The great reversals
National income, expenditure and output of the United Kingdom, 1855-1965
On the Long-Run Evolution of Inheritance
Pioneering Modern Corporate Governance
Global Electrification
Profits in the British Economy, 1909-1938
Thers, Syndicates, and Stock Promotions
When did Ownership Separate from Control? Corporate Governance in the Early Nineteenth Century
Profits in the British Economy, 1909-1938
Ownership, Control and Success of Large Companies. An Analysis of English Industrial Structure and Policy, 1936-51
Is Berle and Means Really a Myth
Laws versus Contracts
Who comprised the nation of shareholders? Gender and investment in Great Britain, c. 1870–1935
The Large Manufacturing Employers of 1907
British overseas railways as free-standing companies, 1900–1915
Britain's Overseas Investments in 1914 Revisited
The ‘Divorce’ of ownership from control from 1900 onwards
Financial centres and international capital flows in the nineteenth and twentieth centuries
Corporate Control and Corporate Rule
Public and Private Ownership of British Industry
British Multinational Banking, 1830-1990
New, disaggregated, British railway total factor productivity growth estimates, 1875 to 19121
The Emergence of the Large-Scale Company in Great Britain, 1870-1914
Capitalists and Christians
Wealth and the Wealthy in the Modern World
The Evolution of International Business
| Obras citantes distintas | 30 |
|---|---|
| Citas por año | 1,88 |
| Intervalo de citas | 2010 - 2026 (17) |
| Velocidad de citación | current |
| Altamente citado | No |
| Tipos de cita | Neutras: 28 |