Kelly, David (1990) Money-capital and company law : a historical analysis. Doctor of Philosophy (PhD) thesis, University of Kent. (doi:10.22024/UniKent/01.02.94457) (KAR id:94457)
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Official URL: https://doi.org/10.22024/UniKent/01.02.94457 |
Abstract
The essential contention of this thesis is that the joint- stock company, as an organisational form of capital, and Company law, as the means of regulating that capital form, can be properly understood only on the basis of an analysis of the distinct forms assumed by capital over time. More specifically, it is suggested that the emergence and development of the share as a distinct property form, in the nature of fictitious money-capital, offers the essential explanatory insight into the historical process which saw the formulation of the doctrines and rules which together constitute the distinct legal corpus Company Law as it is now understood.
In support of this contention the thesis establishes the existence of the share as a particular form of the general category fictitious money-capital. On that basis it proceeds to consider the historical process through which the joint- stock company and Company Law emerged, especially in the course of the nineteenth century, as distinctly money- capital forms.
In respect of this latter aim, particular attention is focussed on the following phenomena: the reconceptualisation of the share during the nineteenth century; the increased importance of the doctrine of Goodwill as existing businesses were converted into public joint-stock companies; the change in the rules relating to dividend payments, reflecting a shift in attention from the rights of creditors to the rights of shareholders; and the development of the doctrine of Ultra Vires, as a means of protecting the integrity of the share as a form of money-capital. Finally it is demonstrated that the contemporary doctrine of separate personality was a product of these various developments, reflecting the money- capitalist nature of typical shareholders, and not, as is usually suggested, the automatic consequence of incorporation.
incorporation.
Item Type: | Thesis (Doctor of Philosophy (PhD)) |
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DOI/Identification number: | 10.22024/UniKent/01.02.94457 |
Additional information: | This thesis has been digitised by EThOS, the British Library digitisation service, for purposes of preservation and dissemination. It was uploaded to KAR on 25 April 2022 in order to hold its content and record within University of Kent systems. It is available Open Access using a Creative Commons Attribution, Non-commercial, No Derivatives (https://creativecommons.org/licenses/by-nc-nd/4.0/) licence so that the thesis and its author, can benefit from opportunities for increased readership and citation. This was done in line with University of Kent policies (https://www.kent.ac.uk/is/strategy/docs/Kent%20Open%20Access%20policy.pdf). If you feel that your rights are compromised by open access to this thesis, or if you would like more information about its availability, please contact us at ResearchSupport@kent.ac.uk and we will seriously consider your claim under the terms of our Take-Down Policy (https://www.kent.ac.uk/is/regulations/library/kar-take-down-policy.html). |
Uncontrolled keywords: | Marxist economic/legal theory |
Subjects: |
H Social Sciences > HF Commerce K Law > K Law (General) K Law > KZ Law of Nations A General Works > AZ History of Scholarship. The Humanities C Auxiliary Sciences of History > CB History of civilization D History General and Old World > D History (General) L Education > LA History of education |
Divisions: | Divisions > Division for the Study of Law, Society and Social Justice > Kent Law School |
SWORD Depositor: | SWORD Copy |
Depositing User: | SWORD Copy |
Date Deposited: | 12 May 2023 15:58 UTC |
Last Modified: | 12 May 2023 15:58 UTC |
Resource URI: | https://kar.kent.ac.uk/id/eprint/94457 (The current URI for this page, for reference purposes) |
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