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Shorting the Future? Capital Markets and the Launch of the British Electrical Industry, 1882-1892

Kennedy, WP and Delargy, PJR (2020) Shorting the Future? Capital Markets and the Launch of the British Electrical Industry, 1882-1892. UNSPECIFIED. UNSPECIFIED.

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Abstract

Although Britain's electrification started with considerable technological and market advantages, it proceeded remarkably slowly and hesitantly. Using share-price data, this study investigates the conventional explanations for this disappointing outcome: Notably, perverse regulation and competition from entrenched gas-light providers. It finds that these oft-cited factors had an imperceptible impact on the course of the British electrical industry's turbulent market launch in 1882. However, we show that, owing to the fledgling electrical industry's need for incessant experimentation, short-sighted, self-serving decisions by the management of the early British industry's most prominent firm squandered a well-funded start, with long-lasting adverse consequences.

Item Type: Monograph (UNSPECIFIED)
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Users 161 not found.
Date Deposited: 28 Aug 2014 09:49
Last Modified: 30 Mar 2021 23:15
URI: http://repository.essex.ac.uk/id/eprint/8947

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