The Rate of Return on Equity Across Industrial Sectors on the British Stock Market, 1825–70

24 Pages Posted: 6 Oct 2011

See all articles by Charles Robert Hickson

Charles Robert Hickson

Queen's University Belfast - Finance

John D. Turner

Queen's University Belfast; Queen's University Belfast - Queen's Management School

Qing Ye

Xi'an Jiaotong-Liverpool University (XJTLU)

Date Written: November 2011

Abstract

This article assesses the contribution of the various industrial sectors to the growth of the British equity market in the 1825–70 period. It also provides estimates of the rates of return on these industrial sectors in this period. The article then proceeds to examine whether differences in rates of return across the various sectors can be explained by risk or other financial factors. One of the main findings is that the relatively high rates of return in the banking, insurance, and miscellaneous sectors appear to be in some measure explained by the presence of extended liability and uncalled capital.

Suggested Citation

Hickson, Charles Robert and Turner, John D. and Ye, Qing, The Rate of Return on Equity Across Industrial Sectors on the British Stock Market, 1825–70 (November 2011). The Economic History Review, Vol. 64, Issue 4, pp. 1218-1241, 2011, Available at SSRN: https://ssrn.com/abstract=1939631 or http://dx.doi.org/10.1111/j.1468-0289.2010.00573.x

Charles Robert Hickson (Contact Author)

Queen's University Belfast - Finance ( email )

United States

John D. Turner

Queen's University Belfast ( email )

David Leir Building
Belfast BT7 1NN, BT9 5AG
Ireland

Queen's University Belfast - Queen's Management School

Riddel Hall
185 Stranmillis Road
Belfast, BT9 5EE
United Kingdom

Qing Ye

Xi'an Jiaotong-Liverpool University (XJTLU) ( email )

111 Renai Road, SIP
Suzhou, JiangSu province 215123
China

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
3
Abstract Views
427
PlumX Metrics