Capital structure and the financial development of the US sugar-refining industry, 1875-1905
成果类型：
Article
署名作者：
Doyle, WM
刊物名称：
JOURNAL OF ECONOMIC HISTORY
ISSN/ISSBN：
0022-0507
发表日期：
2000
页码：
190-215
关键词：
摘要：
In this article I develop a taxonomy of financial practices based on whether financial activity is intended to fund new capital investment or to create new financial structures to accommodate planned changes in the structure of an industry's existing capital stock. The taxonomy is then applied to the financial development of the U.S. sugar-refining industry between 1875 and 1905. The taxonamy provides an explanation of the rise of the large, widely held industrial corporation in the United States that is more consistent with the historical record than are the conventional financial strain or asset liquidation hypotheses.