The sources of scale: Large employers in Britain in 1881
本文分析了1881年英国545家最大企业，发现纵向整合是规模的最大来源，其中与采矿业的整合使就业增加35%；资本密集度降低多数企业劳动力，但地方集聚效应显著，本地垄断解释了大部分规模差异。
The article assesses the relative weight of different sources of workforce size, using both relative marginal effects and proportion of variance explained for the 545 largest British firms in 1881. Despite data uncertainties, integration is shown as the largest contributor to scale. Integration with mining had even larger effects, raising employment by 35%. Internal capital intensity reduced labour for the majority of firms by about 4 workers per £10,000 capital, but much more for tramways. Place-based externalities had greatest marginal effects for agglomerations (measured by population size). Generally, sectoral localisation was insignificant, but for small localities with more than one firm in a single sector, firm size increased 26–30% compared to diversified localities. Local monopsony (measured by workforce proportion of local population) explained a large proportion of variance because it occurred in a large number of small places. Of other variables explored, only legal form is of major importance.