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The Institutional Legacy And The Development Of An Australian National Innovation System, Simon Ville
The Institutional Legacy And The Development Of An Australian National Innovation System, Simon Ville
Simon Ville
Institutions are the rules of the game that help to shape the long-term historical development of societies. They mediate human interaction and can be more or less formal (or tangible) in nature ranging from systems of government to common modes of behaviour. Most formal institutions can be distinguished as economic, social, political or cultural in nature although such distinctions are more difficult to make for informal institutions. What is certain is the pervasive impact of all types of institutions on a country’s multifaceted development. Thus, economic performance may be shaped as much by a nation’s legal system as by its …
Financing Growth: New Issues By Australian Firms, 1920-1939, David Merrett, Simon Ville
Financing Growth: New Issues By Australian Firms, 1920-1939, David Merrett, Simon Ville
Simon Ville
An expanding economy, new technologies, and changing consumer preferences provided growth opportunities for firms in interwar Australia. This period saw an increase in the number of large-scale firms in mining, manufacturing, and a wide range of service industries. Firms unable to rely solely on retained earnings to fund expansion turned to the domestic stock exchanges. A new data set of capital raisings constructed from reports of prospectuses published in the financial press forms the basis for the conclusion that many firms used substantial injections of equity finance to augment internally generated sources of funds. That they were able to do …