Families, Firms, and Finance Capital: The Development of U.K. Industrial Firms with Particular Reference to Their Ownership and Control
基于牛津企业成长项目，分析了英国250家最大企业的所有权与控制权，提出企业控制权会经历不同阶段，且多数企业最终由金融机构控制而非职业经理人。
This paper reports findings from the Oxford Growth of Firms project on the ownership and control position of the largest 250 U.K. companies and, in more detail, that of a sample of 21 of these large firms. An analysis is made of the social and economic historical context in which most of today's large firms grew up. A theoretical model is developed of the stages of control through which firms are likely to pass. It is suggested that most firms are unlikely ever to become controlled by their own professional managers and that there is a trend toward firms being controlled by financial institutions. Evidence is then put forward, from an analysis of the current control position of the top 250 U.K. firms and from brief histories of the 21 sample large firms, which supports the previously outlined theory.