Trust, Reputation and Regulation: Securities Markets in Europe, the USA, and Japan Before 1914
Leslie Hannah ()
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Leslie Hannah: London School of Economics
Chapter Chapter 9 in A History of Socially Responsible Business, c.1600–1950, 2017, pp 213-242 from Palgrave Macmillan
Abstract:
Abstract Large corporations listed on organised stock exchanges were already becoming the norm globally before 1914. National approaches to controlling and fostering them differed from the later “varieties of capitalism” characterisation and had implications for national innovative capabilities and securities market size. Relations between investors (principals) and corporate directors (their agents) were influenced by networks of trust, as well as regulation by governments and by private order institutions like stock exchanges and investment banks.
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:psitcp:978-3-319-60146-5_9
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DOI: 10.1007/978-3-319-60146-5_9
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