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Pioneering Modern Corporate Governance: a View from London in 1900

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Author Info
Leslie Hannah (Faculty of Economis, University of Tokyo and Ecole des Hautes Etudes en Sciences Sociales)
Abstract

Around 1900 Britain was exceptionally suited to pioneering large scale enterprises because of the precocious development of its equity markets and London's experimentation with a more eclectic range of corporate governance techniques than the world's smaller and less cosmopolitan financial centers. Information dissemination, incentives and reputation - developed by a serendipitous mix of legal compulsions and flexible voluntarism - set the scene for the growth of large, UK-based, national and international corporations in the twentieth century.

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File URL: http://www.e.u-tokyo.ac.jp/cirje/research/dp/2007/2007cf487.pdf
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Paper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-487.

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Length: 57 pages
Date of creation: Mar 2007
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Handle: RePEc:tky:fseres:2007cf487

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  1. Yoshiro Miwa & J. Mark Ramseyer, 2001. "The Fable of the Keiretsu," CIRJE F-Series CIRJE-F-109, CIRJE, Faculty of Economics, University of Tokyo. [Downloadable!]
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  1. Braggion, F. & Moore, L., 2008. "Dividend Policies in an Unregulated Market: The London Stock Exchange 1895-1905," Discussion Paper 2008-83, Tilburg University, Center for Economic Research. [Downloadable!]
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