The Ownership and Control of Industry

  • Steve Nyman
  • Aubrey Silberston
Chapter
Part of the Nijenrode Studies in Economics book series (NIEC, volume 2)

Abstract

Since Berle and Means (1932) wrote their pioneering work the ownership and control of large firms has been a continuing, if sporadic, interest of economists, and of industrial economists in particular. There now seems to be a consensus of opinion, or ‘conventional wisdom,’ that a majority of large firms are controlled by professional managers, that the proportion of large firms controlled by ownership interests is declining and that, in any event, there is very little difference in behaviour between manager– and owner–controlled firms. In this paper we suggest that the conventional wisdom is misleading to a considerable extent. It is based on too narrow a conception of the forms which ownership takes and on too simple a theory of the relationship between ownership and corporate behaviour.

Keywords

Drilling Conglomerate Stake Shoe Baumol 

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Copyright information

© H. E. Stenfert Kroese B. V. 1977

Authors and Affiliations

  • Steve Nyman
  • Aubrey Silberston

There are no affiliations available

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