Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/12857
Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: The death blow to unlimited liability in Victorian Britain: The City of Glasgow failure
Authors: Acheson, Graeme
Turner, John D
Contact Email: graeme.acheson@stir.ac.uk
Keywords: Unlimited liability
Banking
Britain
City of Glasgow failure
Issue Date: Jul-2008
Publisher: Elsevier
Citation: Acheson G & Turner JD (2008) The death blow to unlimited liability in Victorian Britain: The City of Glasgow failure, Explorations in Economic History, 45 (3), pp. 235-253.
Abstract: In 1878, one of Britain's largest banks, the City of Glasgow Bank, collapsed, leaving a huge deficit between its assets and liabilities. As this bank, similar to many other contemporary British banks, had unlimited liability, its failure was accompanied by the bankruptcy of the vast majority of its stockholders. It is generally believed that the collapse of this depository institution revealed the extent to which ownership in large joint-stock banks had been diffused to investors of very modest means. It is also believed that the failure resulted in bank shareholders dumping their shares unto the market. Our evidence, garnered from ownership records, trading data, and stock prices, offers no support for these widely held beliefs.
Type: Journal Article
URI: http://hdl.handle.net/1893/12857
DOI Link: http://dx.doi.org/10.1016/j.eeh.2007.10.001
Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Affiliation: Accounting and Finance
Queen's University Belfast

Files in This Item:
File Description SizeFormat 
Acheson et al_EEH_2008.pdf233.57 kBAdobe PDFUnder Embargo until 31/12/2999     Request a copy

Note: If any of the files in this item are currently embargoed, you can request a copy directly from the author by clicking the padlock icon above. However, this facility is dependant on the depositor still being contactable at their original email address.

This item is protected by original copyright



Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

If you believe that any material held in STORRE infringes copyright, please contact library@stir.ac.uk providing details and we will remove the Work from public display in STORRE and investigate your claim.