Difficulties in establishing a limited liability company in Great Britain in the 1860s and the role of financial information: a case history

Barnes, P. and Firman, R., 2001. Difficulties in establishing a limited liability company in Great Britain in the 1860s and the role of financial information: a case history. Financial History Review, 8 (2), pp. 143-161. ISSN 0968-5650

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Abstract

As a result of legislation in 1855, 1856 and 1862 that effectively enabled limited liability companies to be formed with minimum difficulty for the first time, there was an explosion of new companies. However, after the collapse of Overend, Gurney Ltd in 1866 they became unpopular. This paper examines the case of a business which failed to raise the necessary funding because of suspicion of exaggerated claims made in public prospectuses and the ways in which it attempted to survive. This gypsum industry case history also illustrates the problems facing the new class of ‘pure’ investors and directors who had little understanding of the industry in which their company was operating and the nature and reliability of the financial information available to them required for their decision-making.

Item Type: Journal article
Publication Title: Financial History Review
Creators: Barnes, P. and Firman, R.
Publisher: Cambridge University Press
Place of Publication: Cambridge
Date: 2001
Volume: 8
Number: 2
ISSN: 0968-5650
Identifiers:
NumberType
10.1017/S0968565001000233DOI
Rights: Copyright © 2001 Cambridge University Press
Divisions: Schools > Nottingham Business School
Depositing User: EPrints Services
Date Added: 09 Oct 2015 09:41
Last Modified: 23 Aug 2016 09:05
URI: http://irep.ntu.ac.uk/id/eprint/1153

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