No value in par: a history of the no par value debate in the United Kingdom

Christopher Noke

Accounting History Review, 2000, vol. 10, issue 1, 13-36

Abstract: Proposals for shares of no par value have been considered several times this century, and there have been recommendations by government committees and unfulfilled government commitments to introduce them. This paper traces the history of the debate in the United Kingdom, from attempts by guarantee companies last century to issue shares without any value attached, up to a 1973 White Paper. It shows that failure to introduce no par value shares can be explained variously by ignorance, misunderstanding and political cowardice and highlights the way in which the issue became a significant factor in industrial relations during the 1950s.

Keywords: No Par Value Shares; Greene Committee; Cohen Committee; Gedge Committee (search for similar items in EconPapers)
Date: 2000
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DOI: 10.1080/095852000330177

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