Individual investors and social ownership structures in the UK before the 1930s: Joint holdings and trustee investment
利用1870-1935年间35848名投资者的独特大数据，研究了被忽视的联合持股现象，发现约五分之一的英国投资者参与联合投资，且男性因信托等社会所有权制度更可能成为联合持有人。
Abstract After the introduction of limited liability, a growing number of individuals in Britain from a widening social spectrum, including the less affluent, began to own stocks and shares. Drawing upon a unique and large dataset of 35 848 investors between 1870 and 1935, this study analyses joint holdings which have been a neglected aspect of investor behaviour. Our findings reveal that joint holdings were quite common and that about one in five UK investors were involved in a joint investment. Men were more likely to be joint holders than women for reasons related to institutions of social ownership such as trusts and executorships.