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The diffusion and impact of the corporation in 1910

Foreman-Peck, James S. and Leslie, Hannah 2015. The diffusion and impact of the corporation in 1910. Economic History Review 68 (3) , pp. 962-984. 10.1111/ehr.12088

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With new and comprehensive data on the international spread of listed and unlisted corporations before the First World War, this article shows the prominence of common law and Scandinavian civil law in the process. This association is interpreted as demonstrating the strong contribution of liberal (laissez-faire) industrial stances. The findings confirm an extended version of Rajan and Zingales's hypothesis that trade and capital openness are necessary for companies to flourish. Despite the possibilities that companies were created for fraud and exploitation, countries using the corporate form more extensively before 1914 had higher GDP per capita. Through this process, the benefit of imperialism extended to British dominions, but not much, if at all, to British dependent colonies.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HD Industries. Land use. Labor
Uncontrolled Keywords: Corporations; Legal framework; Colonies; Economic growth; Global diffusion.
Additional Information: Article first published online: 17 DEC 2014. PDFs uploaded in accordance with Publisher's polices at (accessed 23.6.17).
Publisher: Wiley
ISSN: 0013-0117
Date of First Compliant Deposit: 23 June 2017
Date of Acceptance: 15 June 2014
Last Modified: 19 May 2020 16:17

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