Author: Robert J. BallonPublisher:
ISBN: 9784770014016
Category : Corporations
Languages : en
Pages : 268
Book Description
The Financial Behavior of Japanese Corporations
Author: Robert J. BallonPublisher:
ISBN: 9784770014016
Category : Corporations
Languages : en
Pages : 268
Book Description
The Financial Behavior of Japanese Corporations
Author: Robert J. BallonPublisher: Kodansha
ISBN:
Category : Business & Economics
Languages : en
Pages : 288
Book Description
The financial behaviour of Japanese corporations
Author: Robert J. BallonCorporate Governance and Corporate Behavior in Japan
Author: Masaharu HanazakiPublisher: Springer
ISBN: 4431560068
Category : Business & Economics
Languages : en
Pages : 94
Book Description
This book carefully examines the effects of changes in the corporate governance structure on corporate behavior or company performance, using micro-data from listed companies in Japan. The author found that in Japan the introduction of stock options had neither a positive impact on profitability nor the negative side effects of promoting risk-taking behaviors. Furthermore, he found that corporate diversification and division of corporations showed negative impacts on profitability. The corporate governance structure of Japan has exhibited a large change from the second half of the 1990s to the present. There have been institutional reforms involving enterprise law, such as the introduction of stock options and the removal of the ban on holding companies. With respect to the ownership structure of a company, discernible trends are that the equity holdings of financial institutions and business corporations have fallen while the presence of foreign stockholders has risen. These trends are often pointed out as signs that the Japanese corporate governance structure has been approaching the American model and that this will energize Japanese firms. The author contradicts common academic theories, however, and concludes that the formation of the corporate governance which emphasizes the agency problem between shareholders and corporate managers is inadequate. He suggests that an institutional arrangement for a corporate governance system that values a variety of stakeholders' interests is greatly needed and concludes that perspectives on maximizing surplus values for various stakeholders and distributing the surpluses appropriately among the stakeholders will become increasingly important for the purpose of managing corporations.
Cases on International Business and Finance in Japanese Corporations
Author: Mitsura MisawaPublisher: Hong Kong University Press
ISBN: 9622098916
Category : Business & Economics
Languages : en
Pages : 193
Book Description
While Japan's export-oriented economy has been advancing with astounding speed, significant differences remain between the management philosophy and techniques used within Japanese companies and those used in the West. These include the significant differences in the use of capital budgeting techniques, economic and political assessment of projects, decision-making styles, and techniques of corporate governance.
Japanese Firms During the Lost Two Decades
Author: Jun-ichi NakamuraPublisher: Springer
ISBN: 4431559183
Category : Business & Economics
Languages : en
Pages : 81
Book Description
Why has Japan's lost decade become the lost two decades? This book attempts to provide a novel perspective on causes of stagnant productivity growth of the Japanese corporate sector during the lost two decades. Exploiting the corporate financial dataset compiled by the Development Bank of Japan, it shows empirical evidence that an excessive conservative financial policy of firms in good standing were responsible for sluggish reallocation of productive resources after the recovery of “zombie” firms. The questions taken up in the book include: How can “zombie” firms be properly identified only on the basis of financial data? Why did a majority of “zombie” firms eventually recover? Why did the productivity and profitability of the corporate sector as a whole remain low even after the recovery of “zombie” firms? Why did firms in good standing stick to an excessive conservative financial policy and seem reluctant to invest for innovation? What can be the effective prescription to revitalize these firms in good standing? Supported by both in-depth data analyses and rich anecdotal evidence, this book is highly recommended to readers who seek a convincing and comprehensive explanation of Japan's lost two decades from the financial and corporate behavioral points of view.
Firm Financial Behavior in the US and Japan
Author: Stephen David ProwsePublisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 158
Book Description
Japanese Firms' Financial Behaviour
Author: Shinichiro NagaokaJapanese Business Down Under
Author: David W. EdgingtonPublisher: Routledge
ISBN: 0429768915
Category : Social Science
Languages : en
Pages : 262
Book Description
The first comprehensive study of post-war Japanese transnational corporations in Australia, this book, first published in 1990, gives valuable insights into the particular characteristics of Japanese overseas investment. It looks at how, where and why Japanese corporations have set up their business activities in Australia, focusing on the economic, political and geographic factors shaping their operations. It presents case studies of Japanese trading companies, manufacturing companies, banks, and financial institutions. As well as highlighting the essential differences that separate Japanese transnational companies from those of the UK and the USA, the study gives new theoretical insights into the complex behaviour of Japanese corporations in their host countries.
Japanese Corporate Finance and International Competition
Author: Masasuke IdePublisher: Palgrave Macmillan
ISBN: 9780312211585
Category : Business & Economics
Languages : en
Pages : 194
Book Description
The central theme of this book is to demonstrate that the relationship is based financial system was the hidden key factor to explain Japan's phenomenal economic growth after WWII by providing low cost of capital to major Japanese companies as a powerful edge in the export market. The book compares and contrasts the Japanese financial system in detail to that of the US and emphasizes the importance of relationship driven share ownership structure and the stock market behavior which valued highly the low profitability of Japanese management. Through the international comparison of corporate profitability and cost of capital, the book develops a theoretical framework which shows how the financial system affects directly and indirectly international economic competition and the macroeconomic performance of nations. Then the book critically reassesses the traditional Japanese approach to economic value creation as a catch-up model, including the analysis of current major economic difficulties facing Japan.