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Driver, Ciaran and Shepherd, David (2005) 'Capacity utilisation and corporate restructuring: a comparative study of the US, UK and other EU countries.' Cambridge Journal of Economics, 29 (1). pp. 119-140.

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Abstract

This paper compares and contrasts capacity utilisation in the manufacturing sectors of the US, UK and other EU countries over three decades. It argues that corporate governance and the pressures of globalisation have led to a tighter capacity stance in the UK but not generally in the US or Europe. The paper further explores the nature of the UK experience, in particular, the rival theories that efficiency in capital use has increased versus the view that firms have simply tightened their capacity stance in line with higher hurdle rates of return. The evidence of the paper supports the view that UK firms adopted a ‘submissive’ response to the pressures of globalisation by shutting capacity and retreating from new investment.

Item Type: Journal Article
SOAS Departments & Centres: Departments and Subunits > School of Finance & Management
Legacy Departments > Faculty of Law and Social Sciences > School of Finance and Management
ISSN: 14643545
DOI (Digital Object Identifier): https://doi.org/10.1093/cje/bei002
Date Deposited: 15 Aug 2015 15:02
URI: https://eprints.soas.ac.uk/id/eprint/20505

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