Innovation in investment banking: the dynamics of control systems within the Chandlerian firm.

Nightingale, P and Poll, R (2000) Innovation in investment banking: the dynamics of control systems within the Chandlerian firm. Industrial and Corporate Change, 9 (1). pp. 113-141. ISSN 0960-6491

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Abstract

This paper extends the technological aspects of Chandler's 'Scale and Scope' framework from 19th-century manufacturing firms that processed physical materials, to a modern service firm that processes information. The intangible nature of information-intensive service provision means that scale and scope economies in investment banking are constrained more by regulations on risk-exposure than developments in production technologies. Profitability and corporate dynamics are therefore dependent on innovation in risk-control systems. Drawing on a case study, the paper shows that risk control systems undergo qualitative changes as they increase in size and complexity.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > SPRU - Science Policy Research Unit
Depositing User: Paul Nightingale
Date Deposited: 06 Feb 2012 18:17
Last Modified: 21 Mar 2012 23:16
URI: http://sro.sussex.ac.uk/id/eprint/15641
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