What Lies Beneath? Who Owns British Defence Contractors and Does it Matter?
AbstractThis paper presents the findings of research into the distribution of the rewards from capital used in defence production. Much existing research has examined the supply chain in the production of defence goods, but there have been few attempts to look at the ownership of suppliers. First, the paper examines two theoretical issues: why the identity of shareholders in defence contractors should have any economic or political significance, and whether the use of capital in defence industries should in principle be expected to be the same as that in any other industry. It then investigates the identity and ownership of the contractors concerned in 2003-4, using several case studies. It finds that many of the largest suppliers to the UK government are foreign-owned or controlled, and it finds evidence of a surprising degree of American equity participation in major British contractors.
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Bibliographic InfoPaper provided by Department of Accounting, Economics and Finance, Bristol Business School, University of the West of England, Bristol in its series Working Papers with number 0507.
Date of creation: Sep 2005
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-03-11 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Derek Braddon, 2004. "The matrix reloaded - what future for the defence firm?," Defence and Peace Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 15(6), pages 499-507.
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