What accounted for the emergence of big firms and what may be called the ‘corporate economy’ in all industrial economies after about the 1870’s?

The emergence of corporate capitalism
Question: What accounted for the emergence of big firms and what may be called the ‘corporate economy’ in all industrial economies after about the 1870’s?
Reading:
Lesly Hannah, The rise of the corporate economy (London, 1977); Alfred J Chandler, Scale and scope:
the dynamics of industrial capitalism (London, 1990); Peter A. Hall and David Soskice, Varieties of
capitalism: the institutional foundations of comparative advantage (Oxford, 2001); A.G.Kenwood
and A.L.Lougheed, The growth of the international economy, 1820-2000 (London and New York,
2003, 4th ed.)

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