Graeme Acheson
Corporate Ownership, Control, and Firm Performance in Victorian Britain
Acheson, Graeme; Turner, John; Campbell, Gareth; Vanteeva, Nadia
Authors
Abstract
Scholars have long debated whether ownership matters for firm performance. The standard view regarding Victorian Britain is that family-controlled companies had a detrimental effect on performance. In this article, we examine this view using a hand-collected corporate ownership dataset. Our main finding is that it was not necessarily the broad structure of corporate ownership that mattered for performance, but whether family blockholders had a governance role. Large active blockholders tended to increase operating performance, implying that they reduced managerial expropriation. Contrastingly, we find that directors who were independent of large owners were more likely to increase shareholder value.
Citation
Acheson, G., Campbell, G., Turner, J., & Vanteeva, N. (2016). Corporate Ownership, Control, and Firm Performance in Victorian Britain. Journal of Economic History, 76(1), 1-40. https://doi.org/10.1017/S0022050716000450
Journal Article Type | Article |
---|---|
Online Publication Date | Feb 25, 2016 |
Publication Date | Mar 1, 2016 |
Deposit Date | Sep 29, 2015 |
Publicly Available Date | Mar 29, 2024 |
Journal | Journal of Economic History |
Print ISSN | 0022-0507 |
Electronic ISSN | 1471-6372 |
Publisher | Cambridge University Press (CUP) |
Peer Reviewed | Peer Reviewed |
Volume | 76 |
Issue | 1 |
Pages | 1-40 |
DOI | https://doi.org/10.1017/S0022050716000450 |
Keywords | corporate ownership, performance, Victorian Britain |
Public URL | https://uwe-repository.worktribe.com/output/913696 |
Publisher URL | http://dx.doi.org/10.1017/S0022050716000450 |
Files
Acheson-V3b (1).docx
(189 Kb)
Document
Acheson-V3b %281%29.pdf
(1.8 Mb)
PDF
You might also like
The idiosyncratic pattern of Russian corporate dividend policy during its formative era
(2018)
Journal Article
The Effect of State-Private Co-partnership System on Russian Industry
(2016)
Journal Article
Gerschenkron revisited: The new corporate Russia
(2015)
Journal Article
Corporate ownership and control in Victorian Britain
(2014)
Journal Article
Downloadable Citations
About UWE Bristol Research Repository
Administrator e-mail: repository@uwe.ac.uk
This application uses the following open-source libraries:
SheetJS Community Edition
Apache License Version 2.0 (http://www.apache.org/licenses/)
PDF.js
Apache License Version 2.0 (http://www.apache.org/licenses/)
Font Awesome
SIL OFL 1.1 (http://scripts.sil.org/OFL)
MIT License (http://opensource.org/licenses/mit-license.html)
CC BY 3.0 ( http://creativecommons.org/licenses/by/3.0/)
Powered by Worktribe © 2024
Advanced Search