TY  - CHAP
AB  - This paper examines the evolution of debt and equity ties among keiretsu firms between the early 1990s and the later part of the decade. During this time frame, the stable shareholding relations characteristic of the Japanese inter-corporate network faced significant pressures from the opening of the Japanese equity market and globalization of financial markets. We investigate whether the traditional “stakeholder model” of the Japanese firm is threatened by North American “shareholder” models. Using multiple measures of keiretsu ties, our analysis suggests this is not the case. Overall, we provide evidence of strengthening ties, although in the case of equity, there has been an evolution away from institutional investors.
VL  - 17
SN  - 978-0-76231-157-6, 978-1-84950-309-9/1571-5027
DO  - 10.1016/S0747-7929(04)17005-4
UR  - https://doi.org/10.1016/S0747-7929(04)17005-4
AU  - McGuire Jean
AU  - Dow Sandra
ED  - Tom Roehl
ED  - Allan Bird
PY  - 2004
Y1  - 2004/01/01
TI  - KEIRETSU ORGANIZATION IN A CHANGING ECONOMIC CONTEXT: THE EVOLUTION OF DEBT AND EQUITY TIES AMONG KEIRETSU FIRMS
T2  - Japanese Firms in Transition: Responding to the Globalization Challenge
T3  - Advances in International Management
PB  - Emerald Group Publishing Limited
SP  - 115
EP  - 138
Y2  - 2024/04/25
ER  -