Can the lessons of the past help us to prevent another banking collapse in the future? This is
the first book to tell the story of the rise and fall of British banking stability over the past two …

We present the first broadly representative study for any early twentieth‐century economy of
the extent to which quoted company ownership was already divorced from managerial …

I investigate the historical development of limited liability–widely considered a cornerstone
of the business corporation–and challenge the commonplace linear narratives about how …

Disclaimer: The views expressed are not necessarily those of the Bank of England or the
Financial Policy Committee. In the 2011 Wincott Lecture, the author sets out a number of …

This might seem like a simple question with a simple answer. At least for publicly listed
companies, its owners are its shareholders. It is they who claim the profits of the company …

Using ownership and control data for 890 firm‐years, this article examines the concentration
of capital and voting rights in B ritish companies in the second half of the nineteenth century …

By 1900 England had the largest stock market in the world and was the leading industrial
nation. Remarkably, freedom to incorporate as a limited liability company had been …

During the panics of the late 19th century depositors believed that there was roughly an 80
percent chance of the banking system failing. How did such crises end? How did depositors' …

This article examines the liquidity of the London capital markets in the decades following the
liberalization of UK incorporation law. Using comprehensive stock and bond data, we …

Sylla and Wright's statistics of new US special incorporations in 1790–1860 show that they
exceeded those in France, Prussia and the UK, but the aggregate paid-up share capitals of …