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Author: Masahiko Aoki
Publisher:
ISBN: 9781383019117
Category : Competition
Languages : en
Pages : 0
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Book Description
The contributors to this study examine Japan's financial system, corporate governance, and the role of government and the legal system and assess how these institutions will affect Japanese industrial and commercial performance in the future.
Author: Masahiko Aoki
Publisher:
ISBN: 9781383019117
Category : Competition
Languages : en
Pages : 0
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Book Description
The contributors to this study examine Japan's financial system, corporate governance, and the role of government and the legal system and assess how these institutions will affect Japanese industrial and commercial performance in the future.
Author: Takeo Hoshi
Publisher: MIT Press
ISBN: 0262582481
Category : Business & Economics
Languages : en
Pages : 379
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Book Description
In this book, Takeo Hoshi and Anil Kashyap examine the history of the Japanese financial system, from its nineteenth-century beginnings through the collapse of the 1990s that concluded with sweeping reforms. Combining financial theory with new data and original case studies, they show why the Japanese financial system developed as it did and how its history affects its ongoing evolution. The authors describe four major periods within Japan's financial history and speculate on the fifth, into which Japan is now moving. Throughout, they focus on four questions: How do households hold their savings? How is business financing provided? What range of services do banks provide? And what is the nature and extent of bank involvement in the management of firms? The answers provide a framework for analyzing the history of the past 150 years, as well as implications of the just-completed reforms known as the "Japanese Big Bang." Hoshi and Kashyap show that the largely successful era of bank dominance in postwar Japan is over, largely because deregulation has exposed the banks to competition from capital markets and foreign competitors. The banks are destined to shrink as households change their savings patterns and their customers continue to migrate to new funding sources. Securities markets are set to re-emerge as central to corporate finance and governance.
Author: Masahiko Aoki
Publisher:
ISBN: 9780198297215
Category : Competition
Languages : en
Pages : 308
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Book Description
For much of the past half-century, Japan's economic success has stimulated the interest of scholars from around the world. In the last decade, and particularly in the last two years, however, it is Japan's economic difficulties which have attracted the most attention. The very institutionswhose efficacy was earlier praised are now often criticised as being the core of Japan's economic problems.This volume brings together the research of many of the world's leading specialists on the Japanese economy to assess how Japan's distinctive economic institutions have operated in the past and how their evolution in the face of changing domestic and international circumstance s will shape theprospects for the Japanese economy in the 21st century. Particular attention is paid to the evolution of Japan's financial system and the changing character of Japanese firm governance, and to the changing role that government and the legal system play in Japan's economy. The authors find among manyother important conclusions that far-reaching regulatory reform will be needed so that a new rules-based system allowing greater scope for dispersed private initiative can emerge to restructure and regrow the Japanese economy.
Author: Ulrike Schaede
Publisher: Routledge
ISBN: 1317466888
Category : History
Languages : en
Pages : 278
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Book Description
As Japan moves from a "catch-up" strategy to a post-developmental stage, it is changing its actions and reactions both in terms of international political economy and domestic policy issues. The current changes in Japan can best be understood as following a path toward "permeable insulation." Japan's government and economic system continue to insulate domestic businesses from full competition and the rigor of market forces, but this insulation is also permeable because a decline in state power vis-a-vis the private sector since the 1990s has combined with a decline in the solidarity of private institutions (such as keiretsu or trade associations) to make strategies of insulation much less rigid and uniform. As a result of the "permeable insulation," Japan's response to the global and domestic challenges of the 1990s is neither one of full acceptance nor rejection of global standards and practices. Instead, the basic scheme is one of pragmatic utilization of new rules and circumstances to continue industrial policies of promotion or protection in a new post-developmental era. By bringing together in-depth case studies of eight critical issue areas, this book looks at Japan's responses to globalization and move toward "permeable insulation." Part 1 introduces the reader to the concept of "permeable insulation" and provides a detailed review of past practices and changes in policy. Part 2 deals with international trade issues, Japan's compliance with and resistance to global trade rules, and the domestic interests visible in Japan's compliance. Part 3 focuses on domestic measures and policies that Japanese firms have used to adapt to the changes, within Japan and abroad, triggered by globalization and liberalization.
Author: Yutaka Kōsai
Publisher:
ISBN:
Category :
Languages : en
Pages : 32
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Book Description
Author: Thomas Pepper
Publisher: Greenwood
ISBN:
Category : Business & Economics
Languages : en
Pages : 410
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Book Description
Author: Curtis J. Milhaupt
Publisher: OUP Oxford
ISBN: 9780199272112
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
Using an institutional and empirical approach, this book analyses the role of formal rules (law and regulations) and informal rules (norms, practices, and shared beliefs) in the Japanese economy. Through in-depth studies of corporate governance and finance, mergers and acquisitions, financial regulation, and markets for everything from venture capital to legal talent and organized crime, Milhaupt and West show that institutions play a crucial and heretofore overlooked role in the structure of the Japanese economy, which often is portrayed as being governed exclusively by interpersonal relations and bureaucratic fiat. The book demonstrates that despite outward appearances of a decade of stagnation in Japan, the formal and informal rules of the Japanese economy are changing significantly. The evidence suggests that in the mix of formal and informal rules that govern Japanese firms and set the incentive structure for other economic actors, law is gaining in importance. As these rules change, Japanese actors are responding, reshaping corporate governance and financial markets, eroding the bureaucracy's power. This book's emphasis on the centrality of institutions, institutional change, and responses to change portray a Japanese economy far different from those provided by previous accounts. It provides a wealth of previously unexplored data on the Japanese economy and legal system, and demonstrates the importance of a sound incentive roadmap for Japan's economic recovery and transition.
Author: Hugh T. Patrick
Publisher:
ISBN:
Category :
Languages : en
Pages : 68
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Book Description
Author: Ms.Chie Aoyagi
Publisher: International Monetary Fund
ISBN: 1498373348
Category : Business & Economics
Languages : en
Pages : 24
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Book Description
Japan’s high corporate savings might be holding back growth. We focus on the causes and consequences of the current corporate behavior and suggest options for reform. In particular, Japan’s weak corporate governance—as measured by available indexes—might be contributing to high cash holdings. Our empirical analysis on a panel of Japanese firms confirms that improving corporate governance would help unlock corporate savings. The main policy implication of our analysis is that comprehensive corporate governance reform should be a key component of Japan’s growth strategy.
Author: Thomas F. Cargill
Publisher: Hoover Press
ISBN: 9780817987237
Category : Finance
Languages : en
Pages : 260
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Book Description
