Ownership Structure, Investment Behaviour and Firm Performance in Japanese Manufacturing Industries
نویسندگان
چکیده
منابع مشابه
Ownership Structure, Investment Behavior and Firm Performance in Japanese Manufacturing Industries
Using data spanning the 1996-1998 fiscal years of 247 of Japan’s largest manufacturers, we empirically evaluate the extent to which a firm’s investment behavior and financial performance is influenced by its ownership structure. To do so, we examine six distinct categories of Japanese shareholders: foreign investors, investment funds, pension funds, banks and insurance companies, affiliated com...
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The percentage of exporters and multinational enterprises (MNEs) varies substantially across industries. We extend the firm heterogeneity model presented in Helpman et al. (2004) to derive testable predictions about the prevalence of these internationalized modes. The model indicates that intra-industry firm heterogeneity and R&D intensity play large roles in the inter-industry variation of the...
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Corporate Governance deals with the issue, how suppliers of finance to corporations assure themselves of getting a return on their investment. Several Studies have examined the relationship between managerial ownership and firm performance. Using different samples most of the studies provide general support for the argument that increase in managerial ownership increases firm performance. Howev...
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Business groups organized by pyramids enable the ultimate shareholders to control a portfolio of firms with less cash requirement. Further, corporate pyramid induces an internal capital market and makes capital transfer more convenient within the pyramid. In China, the state and business groups control a large number of listed firms through pyramidal ownership structure. What role does the corp...
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This paper examines the relationship between firm performance and ownership structure for listed and OTC manufacturing firms in Taiwan. By classifying ownership into three categories (managerial owners, institutional owners and the control group), the study addresses two related empirical issues—the commonly examined piecewise and the Granger causality relationships between ownership and perfor...
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ژورنال
عنوان ژورنال: Organization Studies
سال: 2005
ISSN: 0170-8406,1741-3044
DOI: 10.1177/0170840605046346