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Female investors in the first English and Welsh commercial joint-stock banks

Author

Listed:
  • Lucy Newton

    (Department of Management, University of Reading)

  • Philip L. Cottrell

    (University of Leicester)

Abstract

The 1826 Banking Act was passed to strengthen the banking sector. It allowed the establishment of joint-stock banks in England and Wales outside a 65-mile radius of Charing Cross, London. Institutions formed under this legislation could have an unrestricted number of partners but they did not enjoy the privilege of limited liability. This article examines the extent of female investors in joint-stock banks formed under the 1826 Act. Analysis of shareholdings found that female investors were in a minority yet their holdings in aggregate increased over time. They were primarily widows and spinsters, who collectively became significant in the emerging national financial securities market.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Lucy Newton & Philip L. Cottrell, 2006. "Female investors in the first English and Welsh commercial joint-stock banks," Economics Discussion Papers em-dp2006-34, Department of Economics, University of Reading.
    • Handle: RePEc:rdg:emxxdp:em-dp2006-34
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    Cited by:

    1. Graeme G. Acheson & Christopher Coyle & David P. Jordan & John D. Turner, 2020. "Share trading activity and the rise of the rentier in the UK before 1920," Business History, Taylor & Francis Journals, vol. 62(6), pages 982-1001, August.
    2. Graeme G. Acheson & Gareth Campbell & Áine Gallagher & John D. Turner, 2021. "Independent women: investing in British railways, 1870–1922," Economic History Review, Economic History Society, vol. 74(2), pages 471-495, May.
    3. Acheson, Graeme G. & Campbell, Gareth & Gallagher, Áine & Turner, John D., 2018. "Independent women: Shareholders in the age of the suffragettes," QUCEH Working Paper Series 2018-09, Queen's University Belfast, Queen's University Centre for Economic History.
    4. Graeme G. Acheson & John D. Turner, 2011. "Investor behaviour in a nascent capital market: Scottish bank shareholders in the nineteenth century," Economic History Review, Economic History Society, vol. 64(1), pages 188-213, February.
    5. John D. Turner, 2009. "Wider share ownership?: investors in English and Welsh Bank shares in the nineteenth century1," Economic History Review, Economic History Society, vol. 62(s1), pages 167-192, August.
    6. Janette Rutterford & David R. Green & Josephine Maltby & Alastair Owens, 2011. "Who comprised the nation of shareholders? Gender and investment in Great Britain, c. 1870–1935," Economic History Review, Economic History Society, vol. 64(1), pages 157-187, February.
    7. Graeme G. Acheson & Gareth Campbell & John D. Turner, 2017. "Who financed the expansion of the equity market? Shareholder clienteles in Victorian Britain," Business History, Taylor & Francis Journals, vol. 59(4), pages 607-637, May.
    8. Bernardita Escobar Andrae, 2015. "Female entrepreneurship and participation rates in 19th century Chile," Estudios de Economia, University of Chile, Department of Economics, vol. 42(2 Year 20), pages 67-91, December.

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