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The Vanishing Hand: the Changing Dynamics of Industrial Capitalism

Langlois, Richard N. - EconWPA - 2001

In a series of classic works, most notably The Visible Hand (1977) and Scale and Scope (1990), Alfred Chandler focused the spotlight on the large, vertically integrated modern corporation. Put simply, Chandler’s argument is this. In the late nineteenth century, the large vertically integrated...

Persistent link: https://www.econbiz.de/10005408392

If only I could sack you! Management turnover and performance in large German Banks between 1874 and 1913

Bayer, Christian; Burhop, Carsten - EconWPA - 2005

We analyze the relation of firm performance and managerial turnover in 19th century German banking by probit estimation …. This period covers a major reform of corporate governance. Before the reform performance and turnover are unrelated, wheras … after the reform more succesfull managers leave firms more seldom. However, only short run performance matters. …

Persistent link: https://www.econbiz.de/10005556869