The ownership of Japanese corporations in the 20th century

Julian Franks, Colin Mayer, Hideaki Miyajima

研究成果: Article

17 引用 (Scopus)

抜粋

Twentieth century Japan provides a remarkable laboratory for examining how an externally imposed institutional and regulatory intervention affects the ownership of corporations. In the first half of the century, Japan had weak legal protection but strong institutional arrangements. The institutions were dismantled after the war and replaced by a strong form of legal protection. This inversion resulted in a switch from Japan being a country in which equity markets flourished and ownership was dispersed in the first half of the century to one in which banks and companies dominated with interlocking shareholdings in the second half of the century.

元の言語English
ページ(範囲)2580-2625
ページ数46
ジャーナルReview of Financial Studies
27
発行部数9
DOI
出版物ステータスPublished - 2014 9

ASJC Scopus subject areas

  • Accounting
  • Finance
  • Economics and Econometrics

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