The paper reinterprets Keynes’s analysis of the crisis in the Lancashire cotton industry in the 1920s. It presents empirical evidence showing that syndicates of local shareholders, but not the banks, were an important brake on firms exiting, at a time when exit barriers were otherwise...

The question of how an individual firm’s environmental performance impacts its firm risk has not been examined in any empirical UK research. Does a company that strives to attain good environmental performance decreases its market risk or is environmental performance just a disadvantageous...

The paper offers a new perspective on the management and accounting practices at this pioneering firm of the British industrial revolution. Using a historical materialist approach, it offers an alternative to the economic rationalist, Foucauldian and Marxist explanations in the prior literature....

The paper sets out a theoretical model linking stock market financial risk to labour market conditions, including labour intensity and the risk arising from the specification of labour contracts. A value added analysis is conducted combining national and firm level accounts data to examine the...

Using examples from environmentally sensitive industries, the paper examines the determinants of corporate social disclosure (CSD). The paper moves beyond the traditional literature in two respects. First it is international in scope, examining the accounting disclosure responses of...

The paper analyses the social components of two theories of central importance to accounting and finance. It shows that modern finance theory is unable to account for value and that although its canon and major assumptions successfully obfuscate real social relations, they do not provide an...

The paper derives operating and financial measures of leverage and tests their association with market based measures of equity risk. It is the first such study to use purely accounting-based data to derive the leverage measures. In line with previous literature it conducts a new test on the...

The paper combines economic and sociological perspectives on organizations in order to gain a better understanding of the forces shaping the structures of industrial districts (IDs) and the organizations of which they are constituted. To effect the combination , the resource based view (RBV) and...

The paper argues that the principal components of the Resource- based view (R-BV) of the firm are not a sufficient basis for a complete and consistent theory of firm behaviour. Two important missing elements are governance arrangements and value theory. Whilst these missing elements have been...

[First Paragraphs] As political history is signposted by decisive battles and the rise and fall of great leaders, so the history of finance is marked by speculative booms and busts. From the failure of the futures market in Dutch tulips in the seventeenth century, to the South Sea Bubble of...