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Corporation formation in the antebellum United States in comparative context

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  • Richard Sylla
  • Robert E. Wright

Abstract

Between 1790 and 1860, US state governments chartered 22,419 businesses, with minimum authorised capital totalling $4.58 billion, by special statute. The US, in both total and per capita terms, had considerably more corporations and authorised corporate capital than the UK, France or Prussia did over that same span. Differences in incorporation and capitalisation rates between nations were largely a function of differences in laws and politics but differences among American states resulted more from differences in the timing and character of economic development.

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  • Richard Sylla & Robert E. Wright, 2013. "Corporation formation in the antebellum United States in comparative context," Business History, Taylor & Francis Journals, vol. 55(4), pages 653-669, June.
    • Handle: RePEc:taf:bushst:v:55:y:2013:i:4:p:653-669
    DOI: 10.1080/00076791.2012.741977
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    References listed on IDEAS

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    1. Ilgmann, Cordelius, 2011. "The advent of corporate limited liability in Prussia 1843," CAWM Discussion Papers 46, University of Münster, Münster Center for Economic Policy (MEP).
    2. Cordelius Ilgmann, "undated". "The Advent of Corporate Limited Liability in Prussia 1843," Working Papers 201172, Institute of Spatial and Housing Economics, Munster Universitary.
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    Cited by:

    1. holmes, james, 2019. "Why do firms incorporate and what difference does it make?," MPRA Paper 93313, University Library of Munich, Germany.
    2. James Foreman-Peck & Leslie Hannah, 2015. "The diffusion and impact of the corporation in 1910," Economic History Review, Economic History Society, vol. 68(3), pages 962-984, August.
    3. Eric Hilt, 2016. "Corporation Law and the Shift toward Open Access in the Antebellum United States," NBER Chapters, in: Organizations, Civil Society, and the Roots of Development, pages 147-177, National Bureau of Economic Research, Inc.
    4. Eric Hilt, 2014. "Corporate Governance and the Development of Manufacturing Enterprises in Nineteenth-Century Massachusetts," NBER Chapters, in: Enterprising America: Businesses, Banks, and Credit Markets in Historical Perspective, pages 73-102, National Bureau of Economic Research, Inc.
    5. Aaron Graham, 2020. "Incorporation and Company Formation in Australasia, 1790–1860," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 60(3), pages 322-345, November.

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