Japanese corporate finance and international competition : Japanese capitalism versus American capitalism
Author(s)
Bibliographic Information
Japanese corporate finance and international competition : Japanese capitalism versus American capitalism
（Studies in the modern Japanese economy）
Macmillan , St. Martin's Press, 1998
- : uk
- : us
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Note
Includes bibliographical references (p. 187-190) and index
Description and Table of Contents
Description
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 stock 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.
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 - Stock 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 Stocks and Share Ownership Structure - The Stock Valuation in Japan (1): Phase One - The Stock Valuation in Japan (2): Phase Two - Factors Underpinning the Call-optionization of the Stock 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
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