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Japanese keiretsu: Past, present, future

  • Jean McGuire

    ()

  • Sandra Dow

    ()

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    File URL: http://hdl.handle.net/10.1007/s10490-008-9104-5
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    Article provided by Springer in its journal Asia Pacific Journal of Management.

    Volume (Year): 26 (2009)
    Issue (Month): 2 (June)
    Pages: 333-351

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    Handle: RePEc:kap:asiapa:v:26:y:2009:i:2:p:333-351
    Contact details of provider: Postal: P.O. Box 17, 3300 AA Dordrecht, the Netherlands
    Web page: http://www.springerlink.com/link.asp?id=106589

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    1. Hoshi, Takeo & Kashyap, Anil & Scharfstein, David, 1991. "Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups," The Quarterly Journal of Economics, MIT Press, vol. 106(1), pages 33-60, February.
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    3. Dewenter, Kathryn & Novaes, Walter & Pettway, Richard H, 2001. "Visibility versus Complexity in Business Groups: Evidence from Japanese Keiretsu," The Journal of Business, University of Chicago Press, vol. 74(1), pages 79-100, January.
    4. Kunal Banerji & Rakesh B Sambharya, 1996. "Vertical Keiretsu and International Market Entry: The Case of the Japanese Automobile Ancillary Industry," Journal of International Business Studies, Palgrave Macmillan, vol. 27(1), pages 89-113, March.
    5. Bernotas, David, 2005. "Ownership structure and firm profitability in the Japanese keiretsu," Journal of Asian Economics, Elsevier, vol. 16(3), pages 533-554, June.
    6. Tarun Khanna & Yishay Yafeh, 2005. "Business Groups and Risk Sharing around the World," The Journal of Business, University of Chicago Press, vol. 78(1), pages 301-340, January.
    7. Hoshi, Takeo & Kashyap, Anil & Scharfstein, David, 1990. "The role of banks in reducing the costs of financial distress in Japan," Journal of Financial Economics, Elsevier, vol. 27(1), pages 67-88, September.
    8. Aoki, Masahiko, 1990. "Toward an Economic Model of the Japanese Firm," Journal of Economic Literature, American Economic Association, vol. 28(1), pages 1-27, March.
    9. Kang, Jun-Koo & Shivdasani, Anil, 1997. "Corporate restructuring during performance declines in Japan," Journal of Financial Economics, Elsevier, vol. 46(1), pages 29-65, October.
    10. Rafael Porta & Florencio Lopez-De-Silanes & Andrei Shleifer, 2006. "What Works in Securities Laws?," Journal of Finance, American Finance Association, vol. 61(1), pages 1-32, 02.
    11. Megumi Suto & Masashi Toshino, 2005. "Behavioural Biases of Japanese Institutional Investors: fund management and corporate governance," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(4), pages 466-477, 07.
    12. Yafeh, Yishay, 2000. "Corporate Governance in Japan: Past Performance and Future Prospects," Oxford Review of Economic Policy, Oxford University Press, vol. 16(2), pages 74-84, Summer.
    13. McGuire, Jean & Dow, Sandra, 2002. "The Japanese keiretsu system: an empirical analysis," Journal of Business Research, Elsevier, vol. 55(1), pages 33-40, January.
    14. Yasuhiro Arikawa & Hideaki Miyajima, 2005. "Relationship Banking and Debt Choice: evidence from Japan," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(3), pages 408-418, 05.
    15. Mark Shanley & Margaret Peteraf, 2004. "Vertical group formation: A social process perspective," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 25(6-7), pages 473-488.
    16. Yoshiro Miwa & J. Mark Ramseyer, 2002. "The Fable of the Keiretsu," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 11(2), pages 169-224, 06.
    17. Eric Friedman & Simon Johnson & Todd Mitton, 2003. "Propping and Tunneling," NBER Working Papers 9949, National Bureau of Economic Research, Inc.
    18. Yishay Yafeh & Oved Yosha, 2003. "Large Shareholders and Banks: Who Monitors and How?," Economic Journal, Royal Economic Society, vol. 113(484), pages 128-146, January.
    19. Robert Z. Lawrence, 1991. "Efficient or Exclusionist: The Import Behavior of Japanese Corporate Groups," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 22(1), pages 311-341.
    20. Randall Morck & Bernard Yeung, 2006. "Purifying Japan's Banks: Issues and Implications," Harvard Institute of Economic Research Working Papers 2103, Harvard - Institute of Economic Research.
    21. Takehiko Isobe & Shige Makino & Anthony Goerzen, 2006. "Japanese horizontal keiretsu and the performance implications of membership," Asia Pacific Journal of Management, Springer, vol. 23(4), pages 453-466, December.
    22. Kaplan, Steven N. & Minton, Bernadette A., 1994. "Appointments of outsiders to Japanese boards: Determinants and implications for managers," Journal of Financial Economics, Elsevier, vol. 36(2), pages 225-258, October.
    23. Kenneth A. Kim & Piman Limpaphayom, 1998. "A Test Of The Two-Tier Corporate Governance Structure: The Case Of Japanese Keiretsu," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 21(1), pages 37-51, 03.
    24. Mayer, Colin & Schoors, Koen & Yafeh, Yishay, 2005. "Sources of funds and investment activities of venture capital funds: evidence from Germany, Israel, Japan and the United Kingdom," Journal of Corporate Finance, Elsevier, vol. 11(3), pages 586-608, June.
    25. Xueping Wu & Lily Li Xu, 2005. "The Value Information of Financing Decisions and Corporate Governance during and after the Japanese Deregulation," The Journal of Business, University of Chicago Press, vol. 78(1), pages 243-280, January.
    26. Beck, Thorsten & Levine, Ross, 2002. "Industry growth and capital allocation:*1: does having a market- or bank-based system matter?," Journal of Financial Economics, Elsevier, vol. 64(2), pages 147-180, May.
    27. J McGuire & S Dow, 2003. "The persistence and implications of Japanese keiretsu organization," Journal of International Business Studies, Palgrave Macmillan, vol. 34(4), pages 374-388, July.
    28. Peng, Mike W. & Lee, Seung-Hyun & Tan, J. Justin, 2001. "The keiretsu in Asia: Implications for multilevel theories of competitive advantage," Journal of International Management, Elsevier, vol. 7(4), pages 253-276.
    29. Williamson, Oliver E, 1983. "Credible Commitments: Using Hostages to Support Exchange," American Economic Review, American Economic Association, vol. 73(4), pages 519-40, September.
    30. Takehiko Isobe & Shige Makino & Anthony Goerzen, 2006. "Japanese Horizontal Keiretsu and the Performance Implications of Membership," Discussion Paper Series 190, Research Institute for Economics & Business Administration, Kobe University.
    31. Reena Aggarwal & Leora Klapper & Peter D. Wysocki, 2003. "Portfolio preferences of foreign institutional investors," Policy Research Working Paper Series 3101, The World Bank.
    32. Takeo Hoshi, 2006. "Economics Of The Living Dead," The Japanese Economic Review, Japanese Economic Association, vol. 57(1), pages 30-49.
    33. Berglof, Erik & Perotti, Enrico, 1994. "The governance structure of the Japanese financial keiretsu," Journal of Financial Economics, Elsevier, vol. 36(2), pages 259-284, October.
    34. Takeo Hoshi & Anil K. Kashyap, 2004. "Japan's Financial Crisis and Economic Stagnation," Journal of Economic Perspectives, American Economic Association, vol. 18(1), pages 3-26, Winter.
    35. Miyajima, Hideaki & Yafeh, Yishay, 2007. "Japan's banking crisis: An event-study perspective," Journal of Banking & Finance, Elsevier, vol. 31(9), pages 2866-2885, September.
    36. Randall Morck & Masao Nakamura, 1999. "Banks and Corporate Control in Japan," Journal of Finance, American Finance Association, vol. 54(1), pages 319-339, 02.
    37. Karl Lins & Henri Servaes, 1999. "International Evidence on the Value of Corporate Diversification," Journal of Finance, American Finance Association, vol. 54(6), pages 2215-2239, December.
    38. Yoshikawa, Toru & Phan, Phillip H., 2003. "The Performance Implications of Ownership-driven Governance Reform," European Management Journal, Elsevier, vol. 21(6), pages 698-706, December.
    39. repec:ner:tilbur:urn:nbn:nl:ui:12-3125514 is not listed on IDEAS
    40. David E. Weinstein & Yishay Yafeh, 1998. "On the Costs of a Bank-Centered Financial System: Evidence from the Changing Main Bank Relations in Japan," Journal of Finance, American Finance Association, vol. 53(2), pages 635-672, 04.
    41. Toru Yoshikawa & Phillip H. Phan, 2005. "The Effects of Ownership and Capital Structure on Board Composition and Strategic Diversification in Japanese Corporations," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(2), pages 303-312, 03.
    42. Takaya Seki, 2005. "Legal Reform and Shareholder Activism by Institutional Investors in Japan," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(3), pages 377-385, 05.
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