Understanding the Japanese Keiretsu: Overlaps between Corporate Governance and Industrial Organization
37 Pages Posted: 29 Mar 2017
Date Written: January 1, 1993
We aim here for a better understanding of the Japanese keiretsu. Our essential claim is that to understand the Japanese system-banks with extensive investment in industry and industry with extensive cross-ownership-we must understand the problems of industrial organization, not just the problems of corporate governance. The Japanese system, we assert, functions not only to harmonize the relationships among the corporation, its shareholders, and its senior managers, but also to facilitate productive efficiency.
Keywords: contractual governance; corporate governance; cross-ownership; Japanese keiretsu;
JEL Classification: G21, G34, L14, L21, L23, L24
Suggested Citation: Suggested Citation