THE JAPANESE FINANCE: IS IT UNIQUE?

Abstract

Japan has always been an “odd man out” from the standpoint of Western norm or Western finance. It is a country that is as developed as any in the West. However, it is also a country that possesses the significant institutional and cultural traits that separate it from the West. An important question in finance is to what extent the basic models of finance, developed with the Western “perfect market” view in mind, can be applied to Japan; or conversely, what critical adjustments must be made to make models amenable to the reality of Japanese finance.

Citation

Choi, J.J. and Hiraki, T. (2003), "THE JAPANESE FINANCE: IS IT UNIQUE?", Choi, J.J. and Hiraki, T. (Ed.) The Japanese Finance: Corporate Finance and Capital Markets in ... (International Finance Review, Vol. 4), Emerald Group Publishing Limited, Leeds, pp. 3-9. https://doi.org/10.1016/S1569-3767(03)04001-9