Bank on Steel? Joint-Stock Banks and the Rationalisation of the British Interwar Steel Industry

Florian Ploeckl () and Simon C. Holmes

No _093, Oxford Economic and Social History Working Papers from University of Oxford, Department of Economics

Abstract: This study investigates the impact of joint-stock banks on the rationalisation of the British interwar steel industry. A new panel data set of steel firm characteristics covering 1920 to 1938 is used to document rationalization and bank involvement, including interlocking directorships, with both found to be more extensive than previously thought.A set of all potential amalgamation pairs is created and used in a logit analysis of the determinants of mergers. Bank involvement with firms increased the probability that a particular merger occurred. Furthermore mergers with bank involvement did not increase the involved firm's profitability, while those without did.

Keywords: Banking; Steel industry; Rationalization; Mergers; Interwar Britain (search for similar items in EconPapers)
JEL-codes: L61 N24 N64 (search for similar items in EconPapers)
Date: 2012-01-01
References: Add references at CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://ora.ox.ac.uk/objects/uuid:1aed6419-928c-4495-8df0-b4412d409268

Related works:
Journal Article: Bank on steel? Joint-stock banks and the rationalization of the British interwar steel industry (2015)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oxf:esohwp:_093

Access Statistics for this paper

More papers in Oxford Economic and Social History Working Papers from University of Oxford, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Anne Pouliquen ( this e-mail address is bad, please contact ).