カテゴリ

このアイテムのアクセス数:1,225件（2024-04-25 23:24 集計）

このアイテムへのリンクには次のURLをご利用ください: https://hdl.handle.net/10086/13904

閲覧可能ファイル 

ファイル フォーマット サイズ 閲覧回数 説明
cover_13904 pdf
wp2003-22a pdf 986 KB 1,990

詳細情報

詳細情報出力

Title
Have Banks Contributed to Efficient Management in Japan's Manufacturing?
Creator
Creator Name
Hanazaki, Masaharu Hanazaki, Masaharu
花崎, 正晴 花崎, 正晴
ハナザキ, マサハル ハナザキ, マサハル
Affiliation
Affiliation Name
Development Bank of Japan
Creator Name
Horiuchi, Akiyoshi Horiuchi, Akiyoshi
堀内, 昭義 堀内, 昭義
ホリウチ, アキヨシ ホリウチ, アキヨシ
Affiliation
Affiliation Name
University of Tokyo
Editor
Contributor Name
Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University
Abstract
This paper statistically reexamines the conventional view that the main bank relationship has been an important element of corporate governance in Japan. According to the view, in postwar Japan, the main bank relationship has contributed to efficient management of borrower firms in place of the capital market that disciplines corporate management in the Anglo-American economy. Our analysis finds that neither the main bank relationship nor other capital market factors, which the standard governance theory regards as important determinants of managerial efficiency, consistently influenced efficiency of manufacturing firms' management defined by the total factor productivity (TFP). Instead, market competition, particularly competitive pressures from abroad, is found to have consistently enhanced management efficiency. Thus, the conventional view exaggerates importance of the main bank relationship in the Japanese corporate governance framework.
Description
May 2000
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2003-11
Language
英語(eng)
Resource Type
technical report（テクニカルレポート）
Version Type
VoR
Relation - Is Part Of
Related Title
CEI Working Paper Series ; No. 2003-22
Relation
Related Identifier
URI
  http://cei.ier.hit-u.ac.jp/index.html
NCID
AA11590659
Number of Pages
27
Appears in Collections
CEI Working Paper Series
URL
https://hdl.handle.net/10086/13904