search query: @author Higgins, D.M. / total: 3
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| Author: | Higgins, D.M. Toms, S. |
| Title: | Financial institutions and corporate strategy: David Alliance and the transformation of British textiles, c.1950-c.1990 |
| Journal: | Business history
2006 : OCT, VOL: 48:4, p. 453-478 |
| Index terms: | textile industry mergers alliances entrepreneurship case studies history models United Kingdom |
| Freeterms: | partnerships |
| Language: | eng |
| Abstract: | This article introduces and assesses a conceptual model of institutional and corporate (here as: corp.) change, aiming at integrating strategic (as: str. - for 'strategies' as: strs.) choice and associated corp. structure with the role of the market for corp. control (MCC) as a governance mechanism. The model is illustrated through longitudinal case studies from the British textile industry with particular reference to the acquisition policy of David Alliance etc. The evidence indicates that there was no relationship btw. the depth of the MCC and restructuring success, but to the extent that the market lacked depth, abnormal profits accrued to market-making entrepreneurs such as Alliance. There is also evidence that decentralized market-led strs. were more successful than strs. based on the integration of production for the achievement of scale economies. Successful adoption of these strs. was also based on the acquisition of financial resources. |
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