The Logic of British and American Industry by Florence P. Sargant;

Author:Florence, P. Sargant; [P. Sargant Florence]
Language: eng
Format: epub
ISBN: 1539114
Publisher: Taylor & Francis Group

Twenty, a conventional committee size, was taken somewhat arbitrarily as a number that might form the nucleus of government, but the government of a company or corporation might be in the hands of more or of fewer shareholders. The hypothesis of a government based on more than twenty large shareholders is the less likely in the light of the actual structure of the twenty largest holdings. If these holdings are ranked in order of their size, the sizes appear, in the bulk of the large companies, to taper off rapidly at first and then more slowly. The typical pattern in large companies and corporations can be measured most easily by calculating a ‘median’ large company with proportions of the capital for each of the largest twenty shareholdings, with number of directors and directors’ holdings, etc., such that the number of companies with higher and with lower values is the same. In this median large company the slope of the taper can be seen, from Table VD, to be in both countries first sharp and then long drawn-out. The largest shareholding averages for all companies (as measured by the median) 10·3% of voting shares in Britain, 6·0% of common stock issues in America, but the fifth holding in size has tapered down sharply to 1·1% in Britain and 1·27% in America. From the 5th to the 20th holding the rate of decrease is slower. Instead of the holding decreasing four ranks down (from 1st to 5th) to a fifth or even a tenth, it decreases the further fifteen ranks down in Britain from 1·1 to 0·27, i.e. to a quarter; and in America from 1·27 to 0·41, i.e. only to a third.1

TABLE VD

PERCENTAGE OF SHARES HELD BY REPRESENTATIVE LARGEST HOLDERS IN 82 LARGEST BRITISH AND 126 LARGEST AMERICAN INDUSTRIAL COMPANIES

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.