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http://hdl.handle.net/10419/26998
  

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dc.contributor.authorGuinnane, Timothy W.en_US
dc.contributor.authorHarris, Ronen_US
dc.contributor.authorLamoreaux, Naomi R.en_US
dc.contributor.authorRosenthal, Jean-Laurenten_US
dc.date.accessioned2009-08-06T09:44:41Z-
dc.date.available2009-08-06T09:44:41Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/26998-
dc.description.abstractWe use the history of private limited liability companies (PLLCs) to challenge two pervasive assumptions in the literature: (1) Anglo-American legal institutions were better for economic development than continental Europe’s civil-law institutions; and (2) the corporation was the superior form of business organization. Data on the number and types of firms organized in France, Germany, the UK, and the US show that that the PLLC became the form of choice for small- and medium-size enterprises wherever and whenever it was introduced. The PLLC's key advantage was its flexible internal governance rules that allowed its users to limit the threat of untimely dissolution inherent in partnerships without taking on the full danger of minority oppression that the corporation entailed. The PLLC was first successfully introduced in Germany, a code country, in 1892. Great Britain, a common-law country followed in 1907, and France, a code country, in 1925. The laggard was the US, a common-law country whose courts had effectively killed earlier attempts to enact the form.en_US
dc.language.isoengen_US
dc.publisherYale Univ., Economic Growth Center New Haven, Conn.en_US
dc.relation.ispartofseriesCenter discussion paper // Economic Growth Center 959en_US
dc.subject.jelN8en_US
dc.subject.jelG3en_US
dc.subject.jelO16en_US
dc.subject.jelK22en_US
dc.subject.ddc330en_US
dc.subject.keywordlimited companyen_US
dc.subject.keywordpartnershipen_US
dc.subject.keywordcorporationen_US
dc.subject.keywordlegal regimeen_US
dc.subject.keywordcommon lawen_US
dc.subject.keywordcivil lawen_US
dc.titleOwnership and control in the entrepreneurial firm: an international history of private limited companiesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn593373030en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Center Discussion Papers, Economic Growth Center (EGC), Yale University

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