The Emergence of Managerial Capitalism

Chandler, Alfred D.

doi:10.2307/3114162

Cited by 125 publications

(44 citation statements)

References 7 publications

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“…The theory that mergers are often the result of holdup due to asset specificity is not supported by the GM-Fisher Body example. Instead, the weight of the evidence in this example supports the theory of merger that Alfred Chandler emphasized: vertical integration enhances co-ordination (Chandler, 1984). The historian's craft and economics 357…”

Section: The Gm-fisher Body Mergermentioning

confidence: 76%

The historian's craft and economics

Hansen

2015

Journal of Institutional Economics

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Abstract. History refers both to the past and to the systematic study of the past. Attempts to make a case for history in economics generally emphasize the first definition. There are benefits from increased attention to the past. This paper argues that significant benefits can be gained from increased attention to the systematic study of the past, the historian's craft. The essence of the historian's craft is the critical evaluation of sources. Failure to critically evaluate sources has the potential to lead to erroneous conclusions, whether one is using historical documents or more recently created data.

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Section: The Gm-fisher Body Mergermentioning

confidence: 76%

The historian's craft and economics

Hansen

2015

Journal of Institutional Economics

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“…He asserts the first "managerial hierarchies appeared during the 1850s and 1860s to coordinate the movements of trains and flow of goods over the new railroad networks … then quickly came into use to manage the new mass retailing establishments -the department stores, mail order houses, and chains or multiple shops". 29 Chandler's interpretation places primary emphasis on organizational structure. He is interested in the scale of the organization and the scope of organizational activities.…”

Section: Retail Contextmentioning

confidence: 99%

The Origins of American International Retailing: Tiffany of New York in London and Paris, 1837–1914

Alexander¹,

Doherty²

2017

Bus. Hist. Rev.

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This article considers the international retailing activities of Tiffany of New York between 1837 and 1914. Using data from the company archive alongside other sources, the findings indicate that five factors were determinants of sustainable international retailing: a centralized organizational structure, a stable ownership structure, existing international engagement, a strong brand identity, and a relevant international retail format. Placing Tiffany's activities in its wider commercial and consumer context, the findings illustrate the organizational changes and asset combination required to support the development of early international retail operations. The article contributes to theoretical understanding of the dynamics of retail internationalization.

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“…50 The separation of ownership and management raised concerns about the motivations of the manager. Until the advent of the public corporation, it was assumed that owners would be motivated by profits both to risk their capital and to work toward the profitability of the enterprise.…”

Section: The Principal-agent Problem In Executive Paymentioning

confidence: 99%

Symbolic Politics and the Regulation of Executive Compensation

Suárez

2014

Politics & Society

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When politicians feel popular pressure to act, but are unwilling or unable to address the root cause of the problem, they resort to symbolic policymaking. In this paper, I examine excessive executive compensation as an issue that rose to the top of the political agenda during both the Great Depression and the Great Recession. Presidential candidates, members of Congress, the media, and the public alike blamed corporate greed for the economic downturn. In both instances, however, enacted legislation stopped short of changing the way in which executive pay was determined or placing effective, enforceable limits on it. I analyze the nature of the democratic process and contend that public policy scholars need to pay more attention to the occurrence of symbolic policies. The category of symbolic policies offers a more accurate approach to understanding the politics of executive compensation in the United States during the two crises and helps explain why, in spite of the recent legislative efforts, it continues to rise.

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The Emergence of Managerial Capitalism

Cited by 125 publications

References 7 publications

The historian's craft and economics

The historian's craft and economics

The Origins of American International Retailing: Tiffany of New York in London and Paris, 1837–1914

Symbolic Politics and the Regulation of Executive Compensation

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