The Corporate Governances and Strategies of British Joint Stock Banks in the early 20^<th> century

点击翻译按钮获取中文摘要

The aim of this study is to seek answers how the British Giant Banks survived long harsh eras of the British economic decline. Especially, we focus on the corporate governances and strategies of banks in the early 20^<th> century. Through the research of untouched banks' historical records, we find three characteristic points as answers. First, the chairmen of the British Giant Banks and their few selected companies managed their banks powerfully and exerted for harmonies among absorbed banks and good performances of their banks. Second, though the Banks' leaders desired to extend their foreign businesses, their intentions were not succeeded. The main source of bank's profits was from domestic finances towards UK industries before the First World War. Third, British Giant Banks did not depend on Bank of England (the Central Bank). They struggled with Bank of England for the monetary policies on bank rates, reserves, and foreign exchanges. As a result, British Banks sought for their own independent management and interests to survive without central bank's help.