Independent Women: Investing in British Railways, 1870-1922

45 Pages Posted: 6 May 2020

See all articles by Graeme Acheson

Graeme Acheson

University of Stirling

Gareth Campbell

Queen's University Belfast - Queen's Management School; Queen's University Belfast

Aine Gallagher

Queen's University Belfast - Queen's Management School

John D. Turner

Queen's University Belfast; Queen's University Belfast - Queen's Management School

Date Written: May 1, 2020

Abstract

The early twentieth century saw the British capital market reach a state of maturity before any of its global counterparts. This coincided with more women participating directly in the stock market. In this paper, we analyse whether these female shareholders chose to invest independently of men. Using a novel dataset of almost 500,000 shareholders in some of the largest British railways, we find that women were much more likely to be solo shareholders than men. There is also evidence that they prioritised their independence above other considerations such as where they invested or how diversified they could be.

Keywords: Gender, Investment, Stock Market, Railways

JEL Classification: G10, J16, N23

Suggested Citation

Acheson, Graeme and Campbell, Gareth and Gallagher, Aine and Turner, John D., Independent Women: Investing in British Railways, 1870-1922 (May 1, 2020). QMS Research Paper 2020/02, Available at SSRN: https://ssrn.com/abstract=3590224 or http://dx.doi.org/10.2139/ssrn.3590224

Graeme Acheson

University of Stirling ( email )

Stirling, Scotland FK9 4LA
United Kingdom

Gareth Campbell

Queen's University Belfast - Queen's Management School

Riddel Hall
185 Stranmillis Road
Belfast, BT9 5EE
United Kingdom

Queen's University Belfast ( email )

Riddel Hall
185 Stranmillis Road
Belfast, BT9 5EE
United Kingdom

Aine Gallagher (Contact Author)

Queen's University Belfast - Queen's Management School ( email )

Riddel Hall
185 Stranmillis Road
Belfast, BT9 5EE
United Kingdom

John D. Turner

Queen's University Belfast ( email )

David Leir Building
Belfast BT7 1NN, BT9 5AG
Ireland

Queen's University Belfast - Queen's Management School

Riddel Hall
185 Stranmillis Road
Belfast, BT9 5EE
United Kingdom

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
56
Abstract Views
378
rank
451,570
PlumX Metrics