This article examines why British firms adopted diversification strategies and multi-divisional structures in the middle of the twentieth century and why this strategy and structure was reversed towards the end. Corporate governance mechanisms and the impact on information costs of such...

Purpose – The paper seeks to present a novel conceptual framework that integrates the strategic dynamics of the firm with changes in its governance systems. Design/methodology/approach – The agency research agenda is extended to include other corporate governance roles, such as resource and...

It is well recognized that the nature of entrepreneurial activity varies by context and historical epoch. But are there systematic underlying factors that cause such significant differences in the entrepreneurial opportunity set? This paper presents a conceptualization of entrepreneurship based...

The objective of this article is to compare the United States and British systems of business organisation and corporate governance during the last 50 years. Of particular interest is the contrasting relationship between governance systems and the pursuit of diversification and refocusing...

The paper analyses the role of private equity in restructuring the UK corporate economy. It develops a theoretical synthesis to show that the evolution of the PE industry and firms in which it invested were governed by the relations of corporate governance between investor and investee...