Management buy-outs in Japan : causes and consequences

書誌事項

Management buy-outs in Japan : causes and consequences

Shinya Kawamoto

(Routledge-WIAS interdisciplinary studies / edited by Hideaki Miyajima and Masao Suzuki, 10)

Routledge, 2026

  • : hbk

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注記

Content Type: text (ncrcontent), Media Type: unmediated (ncrmedia), Carrier Type: volume (ncrcarrier)

Includes bibliographical references (pages [186]-196) and index

Summary: "This book comprehensively examines the motivations and effects of management buyouts in Japan. Beginning with a discussion of implementation status and functions of MBOs in Japan compared to other countries like Europe and the U.S., Kawamoto identifies unique characteristics of Japanese management buyouts. He then explores how the transformation of corporate governance structures of Japanese companies, and other recent changes have led to the increased demand. Empirical data is used to identify what motivates companies to seek buyouts, which factors influence buyout funds' choice of investment destination, and the performance improvement effects of privatization. Topics such as governance structure and minority shareholder interests are also covered. Providing a rare view into the Japanese market, this book will be attractive to researchers of corporate finance, mergers and acquisitions, and corporate governance"--Provided by publisher

収録内容

  • Motivations for going private : comparative analysis of MBOs and wholly owned subsidiaries
  • Heterogeneity of going-private MBOs : motivation, takeover premium, and exit
  • With which companies do Buy-out funds engage in MBO?
  • MBO and performance improvement
  • MBOs and accounting manipulation : takeover structures and discretionary accruals
  • Fairness measures and minority interests
  • MBOs as a tool for corporate restructuring
  • Sale of subsidiaries by MBO and stock market valuation
  • End of chapter MBOs and Japanese companies

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