Can macro-economic sources be used to define UK business performance, 1855-1914?

A. J. Arnold and Sean McCartney

Business History, 2010, vol. 52, issue 4, 564-589

Abstract: The measurement of business performance addresses issues central to business history and this paper examines the evidence on rates of return for UK risk-bearing capital across the period 1855-1914. Existing series, based on the archival records of individual companies and on market data, provide results that are relatively reliable, if limited in scope. The national income accounting framework, in conjunction with capital stock measurements, instead offers the potential to identify a comprehensive series, although one subject to a number of valuation assumptions. In this paper, such a new series is provided and evaluated.

Keywords: business performance; rates of return; UK risk-bearing capital; 1855-1914; national income accounting (search for similar items in EconPapers)
Date: 2010
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DOI: 10.1080/00076791003753160

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