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Corrigendum : Were British railway companies well managed in the early twentieth century?
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Crafts, Nicholas, Leunig, Tim and Mulatu, Abay (2011) Corrigendum : Were British railway companies well managed in the early twentieth century? Economic History Review, Vol.64 (No.1). pp. 351-356. ISSN 0013-0117
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Official URL: http://dx.doi.org/10.1111/j.1468-0289.2010.00559.x
Abstract
In November 2008 we published an article entitled ‘Were British railway companies well managed in the early twentieth century?’. In that article we assessed 14 different railway companies against four criteria. Our investigation of the rate of return on capital employed, cost inefficiency levels, improvements in total factor productivity (TFP), and improvements in the speed of passenger trains revealed substantial and sustained levels of heterogeneity in company performance. On that basis, we argued that ‘Without the discipline of either strong competition or effective regulation, managerial failure was common. This sector is an important qualification to the conventional wisdom that late Victorian Britain did not fail’.
| Item Type: | Journal Item |
|---|---|
| Subjects: | D History General and Old World > DA Great Britain H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management H Social Sciences > HE Transportation and Communications |
| Divisions: | Faculty of Social Sciences > Economics |
| Library of Congress Subject Headings (LCSH): | Railroad companies -- Management -- Great Britain -- History -- 20th century, Railroad companies -- Economic aspects -- Great Britain -- History -- 20th century |
| Journal or Publication Title: | Economic History Review |
| Publisher: | Blackwell |
| ISSN: | 0013-0117 |
| Date: | February 2011 |
| Volume: | Vol.64 |
| Number: | No.1 |
| Number of Pages: | 25 |
| Page Range: | pp. 351-356 |
| Identification Number: | 10.1111/j.1468-0289.2010.00559.x |
| Status: | Peer Reviewed |
| Publication Status: | Published |
| Access rights to Published version: | Restricted or Subscription Access |
| Version or Related Resource: | This article corrects : Were British railway companies well managed in the early twentieth century? Vol. 61, Issue 4, 842–866, Article first published online: 16 MAR 2008 |
| Related URLs: | |
| References: | Crafts, N. F. R.,Mills, T. C., and Mulatu, A., ‘Total factor productivity growth on Britain’s railways, 1852–1912: a reappraisal of the evidence’, Explorations in Economic History, 44 (2007), pp. 608–34. Crafts, N. F. R., Leunig, T., and Mulatu, A., ‘Were British railway companies well managed in the early twentieth century?’, Economic History Review, 61 (2008), pp. 842–66. Dodgson, J., ‘New, disaggregated, British railway total factor productivity growth estimates, 1875 to 1912’, Economic History Review (forthcoming) DOI: 10.1111/j.1468-0289.2010.00556.x. |
| URI: | http://wrap.warwick.ac.uk/id/eprint/38684 |
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- Corrigendum : Were British railway companies well managed in the early twentieth century? (deposited 25 Oct 2011 09:03) [Currently Displayed]
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