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The Comparative Features and Economic Role of Mergers and Acquisitions in Japan

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  • MIYAJIMA Hideaki

Abstract

The Japanese economy is in the midst of a major merger and acquisition (M&A) wave for the first time in the postwar period. This paper puts a spotlight on Japan's M&A activity, which has surged since the end of 1999, and takes a look at the factors that have contributed to the surge, and its various economic dimensions. The paper places Japan's M&As in an international context, and identify the causes of the wave and its structural characteristics (sections 2 and 3). It also examines the economic role of M&A and its pros and cons. We contend that M&As contribute to raising the efficiency of resource allocation and organizations (sections 4 and 5). The last section addresses policy implications and contains concluding remarks.

Suggested Citation

  • MIYAJIMA Hideaki, 2007. "The Comparative Features and Economic Role of Mergers and Acquisitions in Japan," Discussion papers 07056, Research Institute of Economy, Trade and Industry (RIETI).
    • Handle: RePEc:eti:dpaper:07056
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    File URL: https://www.rieti.go.jp/jp/publications/dp/07e056.pdf
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    Cited by:

    1. Ichiro IWASAKI & Satoshi MIZOBATA, 2018. "Post-Privatization Ownership And Firm Performance: A Large Meta-Analysis Of The Transition Literature," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 89(2), pages 263-322, June.

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