The English East India Company’s transition to a permanent capital, 1600-1685

With the New General Stock (1657), the English East India Company (EIC) acquired a permanent capital. Before then, its stocks were to operate for a set number of years before being liquidated. After then, the share capital of EIC stocks remained in the Company in perpetuity. This transition was important for developing the Company’s empire and English financial markets. It was also important for the history of the modern business corporation. This thesis provides a new explanation for the transition.