Much Ado About Nothing: The Limitation of Liability and the Market for 19th century Irish Bank Stock

Abstract Limited liability is widely believed to be a prerequisite for the emergence of an active and liquid securities market because the transactions costs associated with trading ownership of unlimited liability firms are viewed as prohibitive. In this article, we examine the trading of shares in an Irish bank, which limited its liability in 1883. Using this bank’s archives, we assemble a time series of trading data, which we test for structural breaks. Our results suggest that the move to limited liability had a negligible impact upon the trading of this bank’s shares.

Technology and the architecture of markets: re-configuring the Canadian equity market

This paper examines the relation between technical possibilities, liberal logics, and the concrete reconfiguration of markets. It focuses on the enrolling of innovations in communication and information technologies into the markets traditionally dominated by stock exchanges. With the development of capacities to trade on-screen, the power of incumbent market makers has been challenged as a less stable array of competing quasi-public and private marketplaces emerges. Developing a case study of the Toronto Stock Exchange, I argue that narrative emphasis on the performative power of sociotechnical innovations, the deterritorialisation of financial relations, and the erosion of state capacities needs qualification. A case is made for the importance of developing an understanding of: the spaces of encounter between emerging social technologies and property rights, rules of exchange, and structures of governance; and the interplay of orderings of different institutional composition and spatial reach in the reconfiguration of market architectures. Only then can a better grasp be gained of the evolving dynamics between making markets, the regulatory powers of the state, and their delimitations.

'A Job in Politics is not for Woman': Analysing Barriers to Women's Political Representation in CEE

This article discusses women’s political representation in Central and Eastern Europe in the fifteen years after the fall of the Berlin Wall and the adoption of liberal democratic political systems in the region. It highlights the deepseated gender stereotypes that define women primarily as wives and mothers, with electoral politics seen as an appropriate activity for men, but less so for women. The article explores the ways in which conservative attitudes on gender roles hinders the supply of, and demand for, women in the politics of Central and Eastern Europe. It also discusses the manner in which the internalisation of traditional gender norms affects women’s parliamentary behaviour, as few champion women’s rights in the legislatures of the region. The article also finds that links between women MPs and women’s organisations are weak and fragmented, making coalition-building around agendas for women’s rights problematic.