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The Canadian Keiretsu

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  • F.H. Buckley

Abstract

This article describes the Canadian "keiretsu", in which a main Chartered Bank dominates an interlocking group of corporate clients, investment dealers, trust companies, and professional advisors. Such a network facilitates information-sharing and monitoring among group members, while also reducing the agency costs of banker misbehavior. Most major Canadian firms are members of a "keiretsu", and stock ownership of Canadian corporations is far more concentrated than ownership of U.S. companies. 1997 Morgan Stanley.

Suggested Citation

  • F.H. Buckley, 1997. "The Canadian Keiretsu," Journal of Applied Corporate Finance, Morgan Stanley, vol. 9(4), pages 46-57.
  • Handle: RePEc:bla:jacrfn:v:9:y:1997:i:4:p:46-57
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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1745-6622.1997.tb00623.x
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    Cited by:

    1. Vedres, Balázs, 2000. "A tulajdonosi hálózatok felbomlása. A rekombináns tulajdonformák szerepe és a hazai nagyvállalatok tulajdonszerkezetének jellemzői a kilencvenes évek végén
      [The break-up of the ownership networks.
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 680-699.
    2. King, Michael R. & Santor, Eric, 2008. "Family values: Ownership structure, performance and capital structure of Canadian firms," Journal of Banking & Finance, Elsevier, vol. 32(11), pages 2423-2432, November.

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