Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/22816
Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: Corporate Ownership and Control in Victorian Britain
Authors: Acheson, Graeme
Campbell, Gareth
Turner, John D
Vanteeva, Nadia
Contact Email: graeme.acheson@stir.ac.uk
Issue Date: Aug-2015
Publisher: Wiley-Blackwell
Citation: Acheson G, Campbell G, Turner JD & Vanteeva N (2015) Corporate Ownership and Control in Victorian Britain, Economic History Review, 68 (3), pp. 911-936.
Abstract: Using ownership and control data for 890 firm-years, this article examines the concentration of capital and voting rights in British companies in the second half of the nineteenth century. We find that both capital and voting rights were diffuse by modern-day standards. However, this does not necessarily mean that there was a modern-style separation of ownership from control in Victorian Britain. One major implication of our findings is that diffuse ownership was present in the UK much earlier than previously thought, and given that it occurred in an era with weak shareholder protection law, it somewhat undermines the influential law and finance hypothesis. We also find that diffuse ownership is correlated with large boards, a London head office, non-linear voting rights, and shares traded on multiple markets.
Type: Journal Article
URI: http://hdl.handle.net/1893/22816
DOI Link: http://dx.doi.org/10.1111/ehr.12086
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
Queen's University Belfast
University of the West of England

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