IDEAS home Printed from
   My bibliography  Save this paper

The relation of cause and effect between the percentage of foreign shareholders and the number of employees in Japanese firm


  • Fukuda Jun


Foreign shareholders have purchased many stocks issued by Japanese firms in recent years. Thus, they are expected to have a strong influence. In this paper, I analyze whether or not foreign shareholders demand changes in the number of employees in the firms of the foods, chemical, glass, electronic products, land transportation, warehousing or wholesale industries on the basis of the financial data from the fiscal year 1997 to 2007. The analysis showed that the number of employees increase if foreign shareholders purchase stocks in the chemical and land transportation since managers gain confidence if foreign investors actively invest their company. On the other hand, foreign shareholders tend to invest firms which are going to reduce the number of employees in the electronic product.

Suggested Citation

  • Fukuda Jun, 2010. "The relation of cause and effect between the percentage of foreign shareholders and the number of employees in Japanese firm," Discussion papers e-09-006, Graduate School of Economics Project Center, Kyoto University.
  • Handle: RePEc:kue:dpaper:e-09-006

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Amable, Bruno, 2003. "The Diversity of Modern Capitalism," OUP Catalogue, Oxford University Press, number 9780199261147.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kue:dpaper:e-09-006. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Graduate School of Economics Project Center). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.