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Capital Ownership, Capital Structure and Capital Markets: Financial Constraints and the Decline of the Lancashire Cotton Textile Industry 1880-1965

Higgins, D. and Toms, S. (2001) Capital Ownership, Capital Structure and Capital Markets: Financial Constraints and the Decline of the Lancashire Cotton Textile Industry 1880-1965. Journal of Industrial History. pp. 48-64. ISSN 1463-6174

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Abstract

The objective of this analysis is to provide a reinterpretation of the decline of the Lancashire cotton textile industry during the twentieth century. Its principal concerns are with the governance structure of the industry, the resultant capital structures of firms and the constraints thereby imposed on the activities of entrepreneurs. Its central thesis is that ownership of the industry, and the redistribution of ownership claims during booms and slumps, imposed pressures and constraints on decision-makers. These financial constraints dominated the strategic questions of re-equipment and modernisation.

Item Type: Article
Keywords: Lancashire Cotton Textiles, excess capacity, dividends, debt, capital markets.
Institution: The University of York
Academic Units: The University of York > The York Management School
Depositing User: Steven Toms
Date Deposited: 24 Jul 2006
Last Modified: 15 Oct 2014 05:36
Status: Published
Refereed: Yes
Related URLs:
URI: http://eprints.whiterose.ac.uk/id/eprint/1424

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