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The Organization of Enterprise in Japan

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  • Nicholas, Tom

Abstract

Recent research indicates the joint stock form was not a superior type of business organization in many countries historically. In Japan, however, its role was more pervasive. From 1896 to 1939 joint stock enterprises accounted for 44 percent of registered businesses and 80 percent of total capital. From 1922 to 1939 these enterprises outperformed other forms and generated 94 percent of aggregate profits. External finance factors, Japan's development phase, industrial structure, public policy, and culture led to high joint stock usage. The private limited liability company, introduced in 1938, did not displace the joint stock form.

Suggested Citation

  • Nicholas, Tom, 2015. "The Organization of Enterprise in Japan," The Journal of Economic History, Cambridge University Press, vol. 75(2), pages 333-363, June.
    • Handle: RePEc:cup:jechis:v:75:y:2015:i:02:p:333-363_00
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    Cited by:

    1. Guinnane, Timothy W. & Schneebacher, Jakob, 2020. "Enterprise form: Theory and history," Explorations in Economic History, Elsevier, vol. 76(C).
    2. Timothy W Guinnane & Susana Mart�nez-Rodr�guez, 2018. "Choice of Enterprise Form: Spain, 1886–1936," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 34(1), pages 1-26.
    3. Timothy Guinnane & Jakob Schneebacher, 2018. "Capital Structure and the Choice of Enterprise Form: theory and history," Working Papers 1061, Economic Growth Center, Yale University.

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