Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Technological change and the governance of joint-stock enterprise in the early nineteenth century
T2 - the case of Scottish coastal shipping
AU - Freeman, Mark
AU - Pearson, Robin
AU - Taylor, James
PY - 2007/9
Y1 - 2007/9
N2 - Recent studies of the innovation process have viewed it as the outcome of organizational dynamics rather than as the product of technological developments exogenous to the governance of firms. We apply this approach to our examination of British coastal shipping companies during the early nineteenth century as they grappled with the problem of making a successful transition from sail to steam technology. Within the industry there were contrasting responses to this transition, but also common elements in the decision-making process. Before the 1840s, there remained a widespread assumption of shareholder involvement in this sector as in others. The evidence suggests that shipping company directors were generally able to determine resource-allocation decisions, but not without first taking into account governance relations.
AB - Recent studies of the innovation process have viewed it as the outcome of organizational dynamics rather than as the product of technological developments exogenous to the governance of firms. We apply this approach to our examination of British coastal shipping companies during the early nineteenth century as they grappled with the problem of making a successful transition from sail to steam technology. Within the industry there were contrasting responses to this transition, but also common elements in the decision-making process. Before the 1840s, there remained a widespread assumption of shareholder involvement in this sector as in others. The evidence suggests that shipping company directors were generally able to determine resource-allocation decisions, but not without first taking into account governance relations.
KW - Corporate Governance
KW - Shipping
KW - Nineteenth Century
KW - Technology
KW - Shareholders
KW - Steamships
KW - Joint-Stock Companies
U2 - 10.1080/00076790701427630
DO - 10.1080/00076790701427630
M3 - Journal article
VL - 49
SP - 573
EP - 594
JO - Business History
JF - Business History
SN - 0007-6791
IS - 5
ER -