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The Rise and Fall of the Widely Held Firm: a History of Corporate Ownership in Canada
This PDF is a selection from a published volume from the National Bureau of Economic Research Volume Title: A History of Corporate Governance around the World: Family Business Groups to Professional Managers Volume Author/Editor: Randall K. Morck, editor Volume Publisher: University of Chicago Press Volume ISBN: 0-226-53680-7 Volume URL: http://www.nber.org/books/morc05-1 Conference Date: June 21-22, 2003 Publication Date: November 2005 Title: The Rise and Fall of the Widely Held Firm: A History of Corporate Ownership in Canada Author: Randall Morck, Michael Percy, Gloria Tian, Bernard Yeung URL: http://www.nber.org/chapters/c10268 1 The Rise and Fall of the Widely Held Firm A History of Corporate Ownership in Canada Randall K. Morck, Michael Percy, Gloria Y. Tian, and Bernard Yeung 1.1 Introduction At the beginning of the twentieth century, large pyramidal corporate groups, controlled by wealthy families or individuals, dominated Canada’s large corporate sector, as in modern continental European countries. Over several decades, a large stock market, high taxes on inherited income, a sound institutional environment, and capital account openness accompa- nied the rise of widely held firms. At mid-century, the Canadian large cor- porate sector was primarily freestanding widely held firms, as in the mod- ern large corporate sectors of the United States and United Kingdom. Then, in the last third of the century, a series of institutional changes took place. These included a more bank-based financial system, a sharp abate- Randall K. Morck is Stephen A. Jarislowsky Distinguished Professor of Finance at the University of Alberta School of Business and a research associate of the National Bureau of Economic Research. -
WGBH International Newsletter Winter 2008
NEW RELEASES NEW WINTER 2017 The Age of Consequences investigates the impact of climate change on increased resource scarcity, human migration and conflict through the lens of U.S. national security and global stability. Through unflinching case- study analysis, distinguished military admirals, generals and veterans take us beyond the headlines of the conflict Screen programs in Syria, the social unrest of the Arab Spring, the rise of radicalized groups like ISIS and the European refugee online at crisis to lay bare how climate change stressors interact with societal tensions and spark conflict.1x60, 1x90 HD pbsinternational.org COURTESY OF PF PICTURES In a world that is coming to eschew excessive use of fossil fuels and encourage public transportation, trains are becoming more and more popular. They are faster and more modern, but are they safer? This high-speed, action-packed program joins the pioneers of train technology to discover the thrilling advancements which may usher in a new age of safer, faster and more modern trains—from high-tech laser track sensors, to drones, to alternative systems such as maglevs. 1x60 HD For the very first time, history is investigated through the prism 170514 of the auction house. In this all-new series, viewers embark on an investigative and genealogical journey where intriguing family histories are revealed through personal artifacts. For many items, this may be the last chance outsiders have to see each object before they disappear into private collections. 6x60 HD SHUTTERSTOCK/HARPER KT WAREHOUSE 51 PRODUCTIONS WAREHOUSE 51 PRODUCTIONS CURRENT AFFAIRS, SCIENCE ARTS & CULTURE MILAN VUCKOVIC MILAN 15 Years of Terror On September 11, 2001, an unimaginable horror unfolded that devastated a nation and the world. -
Henry Melville Whitney Comes to Cape Breton: the Saga of a Gilded Age Entrepreneur*
DON MACGILLIVRAY Henry Melville Whitney Comes To Cape Breton: The Saga Of A Gilded Age Entrepreneur* No individual has had more of a lasting impact on industrial Cape Breton than Henry Melville Whitney. In 1901 W.L. Grant described him as "the best type of American capitalist" and two decades later the New York Times noted: "As the organizer of the Dominion Coal Company, from which grew the present coal and iron industry of Cape Breton, Nova Scotia, it had been said of him 'that no American ever did more for Canada'". Upon his death the Sydney Post declared he had been "one of the most famous industrial promoters of modern times", and in the 1950s a Cape Breton assessment stated that he would "live in the annals of history for his capacity for sound organization, superior tact in leadership, enterprise and salesmanship".1 Such generous statements are suspect, in view of the turbulent history of industrial Cape Breton and the long standing difficulties which have characterized the steel and coal industries of the area. Yet Whitney's story is significant, because of the tremendous influence he wielded on the industrial development of Cape Breton and as a case study of external entrepreneurship. It is another chapter in the on-going discussion about the decline of the economy of the Atlantic region.2 The story of the financial rise of Henry Melville Whitney, and his more famous brother William Collins Whitney, reads like a typical tale of economic success in America's Gilded Age.3 Their father, James Scollay Whitney, born in * The author would like to thank the Canadian Department of Labour — University Research Committee for their financial assistance, the firm of Dun and Bradstreet, Inc. -
Place Branding: How to Build a Powerful Tourism Brand
Dipartimento di Impresa e Management CATTEDRA: Tourism Management Place branding: How to build a powerful tourism brand MATTEO GIULIANO CAROLI RICCARDO RESCINTI Relatore Correlatore 692291 FALZARANO SABINO ANNO ACCADEMICO: 2018-2019 1 Acknowledgements I would like to say a special “thanks” to my thesis’ supervisor: Professor Matteo Giuliano CAROLI and to my associated coordinator: Dr. Stefano FRANCO. The coordinator had always “ready-to-use” suggestions to increase the value of my work. Following his tips and leads has been crucial to elaborate a clearly structured work. I really appreciated the way he has collected my unchained ideas and he put them into a well-defined framework. The journey to edit the text has not at all been linear; I have bumped into many dead ends, and I really grappled on the indications of my coordinator to bounce back on the right path. Notably, he gave me the freedom to develop my ideas without any constraints. I wanted to produce an authentically personal thesis and, appreciably, he has permitted that. Notwithstanding the deadlines and the concern of issuing an inconsistent work, I never felt excessively under pressure because I know that I had by my side a great professional that has the admirable attitude to correct and to orient ideas, instead of cutting them down. I know how frustrating could be seeing crossed paragraphs. This never happened to me under the coordination of Dr. Franco. He promptly accessorized my thoughts with salvific tips. I decided to underline all those aspects because his attitude helped me a lot in remaining confident and in evoking positive feelings towards this last step of my academic adventure. -
Dreams of a Tropical Canada: Race, Nation, and Canadian Aspirations in the Caribbean Basin, 1883-1919
Dreams of a Tropical Canada: Race, Nation, and Canadian Aspirations in the Caribbean Basin, 1883-1919 by Paula Pears Hastings Department of History Duke University Date: _________________________ Approved: ______________________________ John Herd Thompson, Supervisor ______________________________ Susan Thorne ______________________________ D. Barry Gaspar ______________________________ Philip J. Stern Dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Department of History in the Graduate School of Duke University 2010 ABSTRACT Dreams of a Tropical Canada: Race, Nation, and Canadian Aspirations in the Caribbean Basin, 1883-1919 by Paula Pears Hastings Department of History Duke University Date:_______________________ Approved: ___________________________ John Herd Thompson, Supervisor ___________________________ Susan Thorne ___________________________ D. Barry Gaspar ___________________________ Philip J. Stern An abstract of a dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Department of History in the Graduate School of Duke University 2010 Copyright by Paula Pears Hastings 2010 Abstract Dreams of a “tropical Canada” that included the West Indies occupied the thoughts of many Canadians over a period spanning nearly forty years. From the expansionist fever of the late nineteenth century to the redistribution of German territories immediately following the First World War, Canadians of varying backgrounds campaigned vigorously for Canada-West Indies union. Their efforts generated a transatlantic discourse that raised larger questions about Canada’s national trajectory, imperial organization, and the state of Britain’s Empire in the twentieth century. This dissertation explores the key ideas, tensions, and contradictions that shaped the union discourse over time. Race, nation and empire were central to this discourse. -
Movers and Shakers
Movers and Shakers Robert Akerlof and Richard Holden∗ June 1, 2015 Abstract Most projects, in most walks of life, require the participation of multiple parties. While it is difficult to unite individuals in a common endeavor, some people, whom we call “movers and shakers,” seem able to do it. The paper specifically examines moving and shaking of an investment project. We analyze a model with a large number of ex ante identical agents. Agents form social connections, bid to buy own- ership and cashflow rights to an asset that is necessary for undertaking a project, and acquire private iid signals of the project’s quality, which they can communicate, at a cost, to those with whom they are linked. Finally, agents choose whether to invest in the project whose returns are a function both of its underlying quality and aggregate investment. We characterize the equilibrium of this game, including the endogenously formed network structure, information flows, and payoffs. We show that a single agent emerges as most connected; these connections confer the ability to increase aggregate investment (i.e., ”move and shake” the project); he consequently earns a rent. In extensions, we move away from the assumption of ex ante identical agents to highlight various forces that lead one agent or another to become a mover and shaker. Finally, we explore various applications, including: entrepreneurship, funds management, and anchor investors. ∗Akerlof: University of Warwick. email: [email protected]. Holden: UNSW Australia Business School. email: [email protected]. We are grateful to Wouter Dessein, Bob Gibbons, Oliver Hart, Bengt Holmstrom, Rachel Kranton, Hongyi Li, Michael Powell and especially Andrea Prat for help- ful discussions, and to seminar participants at the Spring 2015 NBER Organizational Economics meetings, MIT, LMU Munich, Oxford University, Paris 2e, and UNSW. -
Information to Users
INFORMATION TO USERS This manuscript has been reproduced from the microfilm master. UMI films the tect directly from the original or copy submitted. Thus, some thesis and dissertation copies are in typewriter free, while others may be from any type o f computer printer. The quality of this reproduction is dependent upon the quality of the copy submitted. Broken or indistinct print, colored or poor quality illustrations and photographs, print bleedthrough, substandard margins, and improper alignment can adversely affect reproduction. In the unlikely event that the author did not send UMI a complete manuscript and there are missing pages, these will be noted. Also, if unauthorized copyright material had to be removed, a note will indicate the deletion. Oversize materials (e.g., maps, drawings, charts) are reproduced by sectioning the original, beginning at the upper left-hand comer and continuing from left to right in equal sections with small overlaps. Each original is also photographed in one exposure and is included in reduced form at the back of the book. Photographs included in the original manuscript have been reproduced xerographically in this copy. Higher quality 6” x 9” black and white photographic prints are available for any photographs or illustrations appearing in this copy for an additional charge. Contact UMI directly to order. UMI A Bell & Howell Infonnation CompaiQ' 300 North Zeeb Road, Ann Arbor MI 48106-1346 USA 313/761-4700 800/521-0600 Dr Arthur Samuel Kendall, His Life and Times as a Medical Doctor, Politician and Citizen of Cape Breton Island, 1861 - 1944. Moira Ross ©1998 Thesis submitted in Conformity with the Requirements for the Degree Master of Arts. -
WGBH International Newsletter Winter 2008
NEW RELEASES NEW SPRING 2018 The world is full of inspiring places just waiting to be discovered and explored. This new, epic series BE SURE TO VISIT US AT goes on a timeless journey around the planet, revealing the world’s greatest cities, natural wonders, MIPTV 2018 animal encounters, journeys and adventures, monuments, and islands. 36x60 HD STAND P-1.G66 © SEQOYA FOR SHUTTERSTOCK.COM Donald Trump’s frst year as p resident has been marked by unprecedented turmoil that divides the United States. In Trump’s On an unlucky day 13,000 years ago, a slightly built, malnourished Takeover, FRONTLINE investigates how an outsider and novice teenager missed her footing and tumbled to the bottom of a 100-foot politician came to Washington on a promise to “drain the swamp” pit deep inside a cave in Mexico’s Yucatan. NOVA takes you on a and infamed a high-stakes struggle for control of the Republican spectacular and risky underwater expedition to recover her bones Party. Through interviews with senior White House ofcials, and explores one of science’s most controversial riddles: the origins of Congressional leaders, close Trump confdantes and longtime the First Americans. From the stunning Mexico cave to the wilderness Republican Party ofcials, Trump's Takeover examines how of the Yukon, from the genetics lab to the latest in forensics, NOVA ambitions for unifed Republican control in Washington collided pursues tantalizing new clues that are rewriting the story of the with the realities of a deeply divided party. 1x60 HD forgotten frst people who ventured into the Americas. -
General Society of Mayflower Descendants, Organized At
fF 68 .S65 Copy 1 GENERAL SOCIETY OF Mayflower DescendantB Organized at Plymouth, Massachusetts January 12, 1897 GENERAL SOCIETY OF Mayflower Descendants Orgfanized at Plymouth, Massachusetts January 12, 1897 yy-^d^^/ Gm from Mrs. Marcus Benjamll) Dec. 5, 1932 Extract from Constitution. Article II. The object of this Society is to promote the interests that are common to aU the State Socie- ties of Mayflower Descendants, which can best be served by a federal body, and more especially to secure united effort to discover and publish original matter in regard to the Pilgrims, to- gether with existing data known only to anti- quarians, thus honoring our epoch-making sires. Akticle III. All persons, over eigliteen years of age, who are descended from a passenger on the "May- flower," on the voyage which terminated at Plymouth, Wew England, in December, 1620, or from a signer of the "Compact," shall be eligible to membership. - They must be proposed, seconded, and elected. They shall j^ay the initiation fee and dues, and comply with the conditions in the Constitution and the By-Laws. OF THE GENERAL SOCIETY OF MAYFLOWER DESCENDANTS. Governor General, Hox. Hexry E. Howl and, of NeAV York, Deputy Governors General, Hox. WixsLOW Waukex, of Massachusetts, Francis Oi.cott Allex, of Pennsylvania, William Waldo Hyde, of Connecticut. Captain General, Capt. Myles Staxdisii, M. D., of Massachusetts, Elder General, Rev. Eoderick Terry, D. D,, of Xew York. Secretary General, George Erxest Bowmax, G2o Tremont Building, Boston, Mass. 8 Treasurer General, James Mauran Khodes, of Pennsylvania. Historian General, Richard Henry Greene, of New York. -
African-Caribbean Migration to Cape Breton, Canada, 1900-1930 by Claudine Bonner Submitted in Partial Fulf
Industrial Island – African-Caribbean Migration to Cape Breton, Canada, 1900-1930 by Claudine Bonner Submitted in partial fulfilment of the requirements for the degree of Master of Arts at Dalhousie University Halifax, Nova Scotia September 2017 © Copyright by Claudine Bonner, 2017 For my mom, Hilma Burke. ii TABLE OF CONTENTS List of Figures ..................................................................................................................... iv Abstract ................................................................................................................................ v List of Abbreviations Used ................................................................................................. vi Acknowledgements ........................................................................................................... vii Introduction .......................................................................................................................... 1 African-Caribbean Diaspora & Canada ........................................................................... 3 Race and Immigration ...................................................................................................... 5 Theoretical frame ............................................................................................................. 9 African Nova Scotian History ........................................................................................ 12 Sources .......................................................................................................................... -
Historic Context Report for Transit Rail System Development
Historic Context Report for Transit Rail System Development Nationwide, with localized contexts for the Boston, Chicago, New Orleans, New York, Philadelphia, San Francisco, and Washington, D.C. metropolitan areas June 2017 Prepared for: The Federal Transit Administration Headquarters Washington, D.C. Notice This document is disseminated under the sponsorship of the Department of Transportation in the interest of information exchange. The United States Government assumes no liability for the contents or use thereof. The United States Government does not endorse products or manufacturers. Trade or manufacturers’ names appear herein solely because they are considered essential to the objective of this report. i Table of Contents 1. Introduction ................................................................................................................................................. 1 Objectives ............................................................................................................................................ 1 Methodology ....................................................................................................................................... 1 Organization of the Report ................................................................................................................. 2 2. National Context .......................................................................................................................................... 3 Introduction ........................................................................................................................................ -
2015 -2014 BSRA Annual Report Final Draft
Boston Street Railway Association, Inc. Fifty-Sixth Annual Report 2015 Summary $13,800.00 in donations, and contributions to the 5706 Fund totaled $18,000.00. We currently have a 5706 Fund balance Fiscal 2015 ended with a bang. We completed the second of of $62,600.00 and have raised $267,800 since we began the the Streetcar Lines of the Hub Series, Boston’s MTA: 5706 Restoration Project. Through Riverside and Beyond. This new book, which fea- tures a large number of color maps and photographs, picks We continue to receive bequests, usually photographs and up the story of the Metropolitan Transit Authority from the printed matter, and sometimes in cash. As we have said in end of the first book in 1950 to the creation of the MBTA in the past, we appreciate very much your considering the 1964. This is the culmination of efforts by many members BSRA in your estate planning. and friends of the Association, especially those of Mike Finally, the Association thanks once again our many mem- Prescott, who performed yeoman service in designing and bers and friends for your support, counsel, and interest in laying out the book, and by Gerry O’Regan, who revised our seeing the BSRA succeed in its charitable and educational existing maps for the new publication. On a sad note, on the goals. day of this writing, October 1, 2015, Gerry passed away, and we will miss his friendly advice, quick wit and technical Report of the RollSign Director prowess which he shared with the BSRA and so many other During Fiscal 2015, the Association published six issues of organizations.