Canals and the Industrial Revolution

Crompton, Gerald W.

doi:10.1177/002252669301400203

Cited by 10 publications

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“…This stems from the industrial reliance on resources such as raw materials, energy, and transportation networks to produce goods and distribute them to broader markets [3]. Many industrial activities effectively utilized the hydraulic power of canals or transported raw materials to factories and products from factories to markets through canals [4,5]. Some factories even built specialized industrial canal systems [5].…”

Section: Introductionmentioning

confidence: 99%

Research Hotspots and Future Trends in Canal-Related Industrial Buildings

Sun,

Fan

2024

Sustainability

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During the early stages of the Industrial Revolution, canals played a crucial role in facilitating the rapid development of factories. Despite economic downturns and the rise of alternative transportation towards the end of the last century, canals have been experiencing a resurgence in recent years, driven by the principles of sustainable development. To gain a deeper understanding of global academic research focus and current trends, this paper systematically reviews publications related to canal-related industrial buildings from 1997 to 22 January 2024. Using the bibliometric software CiteSpace 6.3.1, information such as countries, institutions, authors, keywords, and references from 96 selected articles in the Web of Science (WoS) database was visualized and analyzed. The results reveal that the current research hotspots in this field mainly focus on five clusters: “stakeholders”, “green spaces”, “conservation areas”, “industrial heritage”, and “energy-efficient reconstruction”. The most popular research topics concerning canal-related industrial buildings are “urban renewal”, “industrial heritage”, “climate change”, and “heritage tourism”, with most themes closely linked to sustainable development. However, it is observed that there is still a lack of a systematic research framework in this field. Most studies originate from heritage management and conservation, landscape rejuvenation along canals, and canal water resource management, while systematic research on canal-related industrial buildings remains limited. Based on these findings, this study proposes future trends and potential research directions in this field, aiming to provide researchers with a comprehensive understanding of the status and to support the sustainable preservation and management of industrial buildings and heritage along canals with a more systematic research framework.

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Section: Introductionmentioning

confidence: 99%

Research Hotspots and Future Trends in Canal-Related Industrial Buildings

Sun,

Fan

2024

Sustainability

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“…11 11 Pratt, History of inland transport , p. 178; Bagwell and Lyth, Transport in Britain , pp. 6, 14; Simmons and Biddle, Oxford companion , p. 67; Crompton, ‘Canals and the industrial revolution’, pp. 93–4 (quotation p. 93); Turnbull, ‘Canals, coal and regional growth’, pp.…”

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‘Veritable gold mines before the arrival of railway competition’: but did dividends signal rates of return in the English canal industry?

Arnold

McCartney

2011

The Economic History Review

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Dividends can provide a tangible signal of earnings, but this function depends upon characteristics of financial reporting that were not always present in early financial capitalism. Although eighteenth-century English canal companies offered low-risk securitized capital approved by Parliament and were important to the development of financial capitalism, little is known about the economic state of the canal industry, beyond observed dividend levels. This article estimates rates of return on equity for a set of major English canals, but shows that their financial reporting underrepresented equity inputs so that dividend rates did not reliably signal operating returns or equity-based rates of return.e hr_541 214..236 A lthough financial or managerial capitalism provides more choice to investors than most other economic systems, the rationality of investor decisions is limited by the information available. In a world with considerable imperfections in accounting measurements of earnings, assets, and ownership capital (in this article the term 'capital' is used to denote sources of finance, rather than business assets), dividends are widely seen as a signal of operating performance that is tangible, in that it is paid in cash form and less subject to manipulation than earnings. Thus they are seen as providing a tolerably accurate indicator of 'real' operating performance.The value of the firm can be seen as a function of its earning power and of its asset risk levels, although under conditions of information asymmetry, investors will be imperfectly informed about organizational earnings. If dividends affect the value of the firm, they 'do so solely because of their informational content, which signals management's earnings expectations', at least in capital markets that have no imperfections, taxes, or transaction costs, and where managers can be assumed to be reluctant to vary their firm's dividend levels. 2 Dividends appear to have fulfilled this function under a range of financial reporting regimes, but this article argues that this ability is in fact dependent upon characteristics of the financial reporting system that are not always present and which were, in fact, absent during the early stages of financial capitalism. As a result, dividends in some cases mis-signalled organizational performance in the canal industry, central to the first industrial revolution in England, under

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“…117 117 Freeman, ‘Introduction’, pp. 1–2, 18–23; Dyos and Aldcroft, Transport , p. 113; Crompton, ‘Canals’. …”

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Canals, rivers, and the industrial city: Manchester's industrial waterfront, 1790–1850¹

Maw

Wyke

Kidd

2011

The Economic History Review

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This article presents new data on mill location in Manchester in 1850 to show that water‐transport infrastructure played a key role in determining the intra‐urban pattern of factory development. The shift from water to steam power introduced new patterns of industrial water use, rather than the relocation of factories away from waterways. Five new public canals and 23 private canal branches activated a major expansion of Manchester's waterfront, providing the majority of the manufacturing sites that enabled the town to become the world's foremost factory centre. Without effective municipal water supplies, canals were the best available water source for steam engines.

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Canals and the Industrial Revolution

Cited by 10 publications

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Research Hotspots and Future Trends in Canal-Related Industrial Buildings

Research Hotspots and Future Trends in Canal-Related Industrial Buildings

‘Veritable gold mines before the arrival of railway competition’: but did dividends signal rates of return in the English canal industry?

Canals, rivers, and the industrial city: Manchester's industrial waterfront, 1790–1850¹

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Canals and the Industrial Revolution

Cited by 10 publications

References 0 publications

Research Hotspots and Future Trends in Canal-Related Industrial Buildings

Research Hotspots and Future Trends in Canal-Related Industrial Buildings

‘Veritable gold mines before the arrival of railway competition’: but did dividends signal rates of return in the English canal industry?

Canals, rivers, and the industrial city: Manchester's industrial waterfront, 1790–18501

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Canals, rivers, and the industrial city: Manchester's industrial waterfront, 1790–1850¹