Advertisement

Business Ownership and Organisation

  • Michael Aldous
Chapter
Part of the Palgrave Studies in Economic History book series (PEHS)

Abstract

Understanding the relationship between the way business is owned and organised is crucial due to its effect on the performance of firms and economies. Optimising the form of ownership and organisation can increase the scale and scope of operations, while improving productivity, efficiency and the capacity for innovation. This chapter discusses the importance of the corporation, or the joint-stock company, in historical perspective.

JEL Classification

D82 G34 L20 L21 L24 N50 N70 N80 

Reading List

  1. Alchian, Armen, and Harold Demsetz. 1972. Production, Information Costs, and Economic Organization. American Economic Review 62 (5): 777–795.Google Scholar
  2. Aldous, Michael. 2015. Avoiding Negligence and Profusion: The Failure of the Joint-Stock Form in the Anglo-Indian Tea Trade, 1840–1870. Enterprise and Society 16 (3): 648–685.CrossRefGoogle Scholar
  3. Berle, Adolf, and Gardiner Means. 1968. The Modern Corporation and Private Property. New York: Harcourt, Brace and World.Google Scholar
  4. Broadberry, Stephen. 1997. The Productivity Race: British Manufacturing in International Perspective 1850–1990. Cambridge: Cambridge University Press.CrossRefGoogle Scholar
  5. Carlos, Ann, and Steve Nicholas. 1990. Agency Problems in the Early Chartered Companies: The Case of the Hudson’s Bay Company. Journal of Economic History 50 (4): 853–857.CrossRefGoogle Scholar
  6. Chandler, Alfred. 1974. Strategy and Structure: Chapters in the History of the American Industrial Enterprise. Cambridge, MA: MIT Press.Google Scholar
  7. ———. 1977. The Visible Hand: Managerial Revolution in American Business. Cambridge, MA: Harvard University Press.Google Scholar
  8. ———. 1990. Scale and Scope: Dynamics of Industrial Capitalism. Cambridge, MA: Harvard University Press.Google Scholar
  9. Foreman-Peck, James, and Leslie Hannah. 2012. Extreme Divorce: The Managerial Revolution in UK Companies before 1914. Economic History Review 65 (4): 1217–1238.CrossRefGoogle Scholar
  10. Gelderblom, Oscar, and Joost Jonker. 2004. Completing a Financial Revolution. The Finance of the Dutch East India Trade and the Rise of the Amsterdam Capital Market, 1595–1612. Journal of Economic History 64 (3): 641–672.Google Scholar
  11. Guinnane, Timothy. 2001. Cooperatives as Information Machines: German Rural Credit Cooperatives, 1883–1914. Journal of Economic History 61 (2): 366–389.CrossRefGoogle Scholar
  12. Guinanne, Timothy, Ron Harris, Naomi Lamoreaux, and Jean-Laurent Rosenthal. 2007. Putting the Corporation in Its Place. Enterprise and Society 8 (3): 687–729.CrossRefGoogle Scholar
  13. Hannah, Leslie. 1999. Marshall’s ‘Trees’ and the Global ‘Forest’: Were Giant Redwoods Different? In Learning by Doing in Markets, Firms, and Countries, ed. Naomi Lamoreaux et al., 253–294. Chicago, IL: University of Chicago Press.Google Scholar
  14. Harris, Ron. 2000. Industrializing English Law: Entrepreneurship and Business Organization, 1720–1844. New York: Cambridge University Press.CrossRefGoogle Scholar
  15. Hejeebu, Santhi. 2005. Contract Enforcement in the English East India Company. Journal of Economic History 65 (2): 496–523.CrossRefGoogle Scholar
  16. Henriksen, Ingrid. 1999. Avoiding Lock-In: Cooperative Creameries in Denmark, 1882–1903. European Review of Economic History 3 (1): 57–78.CrossRefGoogle Scholar
  17. Hilt, Eric. 2006. Incentives in Corporations: Evidence from the American Whaling Industry. Journal of Law and Economics 49 (1): 197–227.CrossRefGoogle Scholar
  18. Jensen, Michael. 2000. Theory of the Firm Governance, Residual Claims, and Organisational Forms. Cambridge, MA: Harvard University Press.Google Scholar
  19. Jensen, Michael, and William Meckling. 1976. Theory of the Firm: Managerial Behaviour, Agency Costs and Ownership Structure. Journal of Financial Economics 3 (4): 305–360.CrossRefGoogle Scholar
  20. Kraakman, Reiner R., Paul Davies, Henry Hansmann, Gerard Hertig, Klaus J. Hopt, Hideki Kanda, and Edward B. Rock. 2004. The Anatomy of Corporate Law: A Comparative and Functional Approach. Oxford: Oxford University Press.Google Scholar
  21. Kuran, Timur. 2012. The Long Divergence: How Islamic Law Held Back the Middle East. Oxford: Oxford University Press.CrossRefGoogle Scholar
  22. Lamoreaux, Naomi, and Jean-Laurent Rosenthal. 2006. Contractual Trade-offs and SMEs’ Choice of Organizational Form: A View from U.S. and French History, 1830–2000. NBER Working Paper Series, Paper No. w12455.Google Scholar
  23. La Porta, Rafael, Florencio Lopez-De-Silanes, Andrei Shleifer, and Robert W. Vishny. 1998. Law and Finance. Journal of Political Economy 106 (6): 1113–1155.CrossRefGoogle Scholar
  24. Lazonick, William. 1992. Organization and Technology in Capitalist Development. Brookfield, VT: Edward Elgar Publishing.Google Scholar
  25. O’Leary, Michael B., Wanda Orlikowski, and JoAnne Yates 2002. Distributed Work over the Centuries: Trust and Control in the Hudson’s Bay Company, 1670–1826. In Distributed Work, ed. Pamela Hinds and Sara Kiesler, 27–54. Cambridge, MA: MIT Press.Google Scholar
  26. Micklethwait, John, and Adrian Wooldridge. 2005. The Company: A Short History of a Revolutionary Idea. New York: Modern Library.Google Scholar
  27. Musacchio, Aldo, and John Turner. 2013. Does the Law and Finance Hypothesis Pass the Test of History? Business History 55 (4): 524–542.CrossRefGoogle Scholar
  28. Schmitz, Christopher. 1993. The Growth of Big Business in the United States and Western Europe, 1850–1939. Cambridge: Cambridge University Press.CrossRefGoogle Scholar

Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Michael Aldous
    • 1
  1. 1.Queen’s University BelfastBelfastUK

Personalised recommendations