Information, Mediation and Institutional Development

This text explores the patterns of corporate growth, organizational change, and entrepreneurial succession within Britain's shipping industry between 1870 and 1914 when the industry dominated the trade routes of the world. It analyzes how one of Britain's major service industries retained its international competitiveness at a time when many of the older staple sectors lost their comparative advantages and when numerous firms in the "new industries" failed to develop strong capabilities. The author combines a theoretical approach with evidence drawn from a sample of 85 firms and 75 ship owners to analyse the scope, contents and durability of the factors that shaped institutional development in one of Britain's most successful industries of the pre-war era. The book aims to show that British shipowners successfully manipulated private infomation flows to sustain a rapid pace of growth using decentralized, network-based administrative frameworks.