Share trading activity and the rise of the rentier in the UK before 1920

Graeme G. Acheson, Christopher Coyle, David P. Jordan and John Turner (j.turner@qub.ac.uk)

No 2018-04, QUCEH Working Paper Series from Queen's University Belfast, Queen's University Centre for Economic History

Abstract: Using a hand-collected dataset, we examine share trading activity over the period 1882 to 1920 for the North British and Mercantile Insurance Company, one of the largest UK companies of the time. Our main finding is that the steady flow of rentiers into the shareholding constituency of this company stymied share trading activity. Another important finding is that share trading still occurred during the closure of the Stock Exchange in 1914, but on a much-reduced scale. We also find that there was a substantial boom in share trading and in insurance stock prices after World War I.

Keywords: Share trading; London Stock Exchange; Insurance; Investor; Rentier; World War I (search for similar items in EconPapers)
JEL-codes: G12 N23 N24 N83 N84 (search for similar items in EconPapers)
Date: 2018
New Economics Papers: this item is included in nep-his and nep-ias
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https://www.econstor.eu/bitstream/10419/175421/1/1015287581.pdf (application/pdf)

Related works:
Journal Article: Share trading activity and the rise of the rentier in the UK before 1920* (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:qucehw:201804

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