Japanese Corporate Finance and International Competition: Japanese Capitalism versus American Capitalism

by Masasuke Ide

Overview

In this book, the author describes that the relationship based shareholding was the hidden key factor to explain Japan's miraculous economic success after WWII. The sk market which valued the low profitability Japanese companies highly enabled them to provide 'better and cheaper' manufactured goods in the export markets, leading resource poor Japan to a leading exporter and economic and financial superpower. The book also casts critical eyes to the weakness of the traditional Japanese financial system as a catch-up model, in comparison with the open US system.

Product Details

ISBN-13:	9781349262403
Publisher:	Palgrave Macmillan UK
Publication date:	03/15/1998
Series:	Studies in the Modern Japanese Economy
Edition description:	1st ed. 1998
Pages:	194
Product dimensions:	5.51(w) x 8.50(h) x (d)

About the Author

Masasuke Ide is Executive Fellow at the Nomura Research Institute at Noruma School of Advanced Management in Tokyo

Table of Contents

PART 1: THE CENTRAL MARKETPLACE OF CAPITALISM - Economic Systems and Resource Allocation - Economic Value Creation by the Investor-owned Companies - The Role of the Capital Market - Sk Market as the Final Judge of the Value Creation Process - PART 2: THE JAPANESE CAPITALISM - Japanese Economic and Financial System - The Unique Features of Japanese Sks and Share Ownership Structure - The Sk Valuation in Japan (1): Phase One - The Sk Valuation in Japan (2): Phase Two - Factors Underpinning the Call-optionization of the Sk Market - PART 3: CORPORATE PROFITABILITY AND THE COST OF CAPITAL - Corporate Profitability and International Competition - International Comparison of Cost of Capital - PART 4: CRITICAL REASSESSMENT OF THE JAPANESE CAPITALISM AS A CATCH-UP MODEL - Japan's National Value Creation System - Merits and Demerits of the Japanese Capitalism - The Future: New Challenges and Changes - Index