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Investment decision-making and industrial performance: The British wool industry during the interwar years

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Publication details

JournalBusiness History
DateE-pub ahead of print - 7 May 2014
DatePublished (current) - 2015
Issue number2
Volume57
Number of pages17
Pages (from-to)224-240
Early online date7/05/14
Original languageEnglish

Abstract

As exogenous shocks impact on industry we believe it timely to revisit the experience of two ‘staple’ industries during the interwar period: cotton and wool textiles. Using a variety of under- explored primary source materials we argue that the ability to withstand the shocks of the interwar years was largely dependent on prior investment decisions. In cotton textiles the re floatation boom precluded strategic flexibility and encouraged collusion. The absence of such behaviour in wool textiles fostered competition and the pursuit of a successful marketing policy.

    Research areas

  • Investment behaviour, Debt, Exogenous shocks, Competition and collusion, Textile industry

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