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Pioneering Modern Corporate Governance: a View from London in 1900 (Subsequently published in "Enterprise and Society", vol. 8, no. 3, September 2007, pp. 642-86. )

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  • 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.

Suggested Citation

  • Leslie Hannah, 2007. "Pioneering Modern Corporate Governance: a View from London in 1900 (Subsequently published in "Enterprise and Society", vol. 8, no. 3, September 2007, pp. 642-86. )," CARF F-Series CARF-F-093, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
  • Handle: RePEc:cfi:fseres:cf093
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    File URL: http://www.carf.e.u-tokyo.ac.jp/pdf/workingpaper/fseries/94.pdf
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    References listed on IDEAS

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    6. Lance Davis, 1966. "The Capital Markets and Industrial Concentration: The U.S. and U.K., a Comparative Study," Economic History Review, Economic History Society, vol. 19(2), pages 255-272, August.
    7. Armando Gomes, 2000. "Going Public without Governance: Managerial Reputation Effects," Journal of Finance, American Finance Association, vol. 55(2), pages 615-646, April.
    8. Brian Cheffins, 2004. "Mergers and the Evolution of Patterns of Corporate Ownership and Control: The British Experience," Business History, Taylor & Francis Journals, vol. 46(2), pages 256-284.
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