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maintains that while a managerial hierarchy might be efficient for US needs (at least at that time), it is not appropriate to coordinate the flow of other resources. According to him, this can justify the dominant role of holding companies in Europe and the ‘hybrid U-form’ in Japan (Suzuki, 1991).

 

Germany:

 

The development of big firms in Europe was mostly the result of M&As, followed by loose, H-form structures (Suzuki, 1991: 70). On the contrary, holding firms became extinct in the US by the 1960’s (Whittington et al., 1999: 530). Still, Chandler (1995) finds a close association between Germany and the US (Chandler, 1995: 11). He does recognise however the differences between what he terms ‘co-operative capitalism’ and the more individualistic Anglo-Saxon model (Hannah, 1991: 303). Germany invests heavily in training and education, while it is famous for exploiting economies of scope rather than scale (Hannah, 1991: 303). Despite early ‘divisionalisers’ (i.e. Siemens), personal control persisted into the 1990’s (Whittington and Mayer, 2000: 168). So, it looks as if Germany has more in common with the UK than Chandler gives credit for (Hannah, 1991: 305).

 

‘Managerial capitalism’ focuses solely on organisational development, undermining the role of other institutions such as banks and the state In Germany for instance banks played a significant role as intermediaries, in contrast to the US, where firms expanded through internal finance (i.e. insurance firms) (Lash and Urry, 1987: 20; 48). Cartels were a dominant feature of the German economy, actually being the equivalent of holding companies in Britain (Lash and Urry, 1987: 18). Despite Chandler’s idea that cartels hinder corporate expansion, capital-intensive industries in Germany grew as a result of cartelisation since the1890’s –still evident in the 1930’s (Lash and Urry, 1987: 20; Sidney, Feb1943). Finally, Hannah (1991) questions Chandler’s statistical and corporate evidence, (i.e. Gerbruder Stollwerc superior to Cadbury’s) arguing he is trying too hard to prove his point. His analysis of the German economy goes so far as the 1930’s (Hannah, 1991: 304); what happened after its glorious defeat in WWII?

 

United Kingdom:

 

In comparison to both Germany and the US, UK was ‘the laggard’. Chandler (1988) acknowledges that small size doesn’t require divisionalisation, but he accuses the country’s ‘personal capitalism’ for this. In line with Mackie (2001) though, ‘personal capitalism’ might describe the 19th century firm but not exactly its successor (Mackie, 2001: 26). The term itself is rather vague too and can have different interpretations (Hannah, 1991: 302). Plus, can a single factor (i.e. managerial tradition) really explain the economic situation of a whole nation? Public policy for instance, and particularly the monetary policy of the 1950’s and 1960’s and the ineffective intervention of the state in the 1930’s ‘cotton crisis’, have already been examin本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。