Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

THE HIDDEN COSTS OF JAPANESE SUCCESS

THE HIDDEN COSTS OF JAPANESE SUCCESS Footnotes 1 . For a further discussion of such agency costs, see Michael C. Jensen, “Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers,” American Economic Association Papers and Proceedings (May 1986), pp. 323–329. 2 . W. Carl Kester, “Capital Ownership Structure: A Comparison of United States and Japanese Manufacturing Corporations,” Financial Management (Spring 1986), pp. 5–16. 3 . Stephen Bronte, Japanese Finances, Markets, and Institutions (London: Euromoney Publications, 1982), p. 17. 4 . Takeo Hoshi, Anil Kashyap, and David Scharfstein, “Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups,” Quarterly Journal of Economics , forthcoming. 5 . The maximum permissible size of the reserve is equivalent to 40% of the liability that would be incurred if all employees voluntarily separated at the rate of the balance sheet. 6 . Alfred Chandler, Scale and Scope (Cambridge, MA: Harvard University Press, 1990). 7 . Michael Porter, “From Competitive Advantage to Corporate Strategy,” Harvard Business Review (May‐June 1987), pp. 43–59. 8 . “Zaiteku Sends Stocks and Tokkin Soaring,” Euromoney: Special Survey , April 1987, pp. 130–131. 9 . Corporate financial managers may still have been right about the cost of their company's equity, but for the wrong reason. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Applied Corporate Finance Wiley

THE HIDDEN COSTS OF JAPANESE SUCCESS

Kester, W. Carl
Journal of Applied Corporate Finance , Volume 3 (4) – Jan 1, 1991
Download PDF
10 pages

Loading next page...
 
/lp/wiley/the-hidden-costs-of-japanese-success-aG3OrNMxFB

References (0)

References for this paper are not available at this time. We will be adding them shortly, thank you for your patience.

Publisher
Wiley
Copyright
Copyright © 1991 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1078-1196
eISSN
1745-6622
DOI
10.1111/j.1745-6622.1991.tb00567.x
Publisher site
See Article on Publisher Site

Abstract

Footnotes 1 . For a further discussion of such agency costs, see Michael C. Jensen, “Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers,” American Economic Association Papers and Proceedings (May 1986), pp. 323–329. 2 . W. Carl Kester, “Capital Ownership Structure: A Comparison of United States and Japanese Manufacturing Corporations,” Financial Management (Spring 1986), pp. 5–16. 3 . Stephen Bronte, Japanese Finances, Markets, and Institutions (London: Euromoney Publications, 1982), p. 17. 4 . Takeo Hoshi, Anil Kashyap, and David Scharfstein, “Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups,” Quarterly Journal of Economics , forthcoming. 5 . The maximum permissible size of the reserve is equivalent to 40% of the liability that would be incurred if all employees voluntarily separated at the rate of the balance sheet. 6 . Alfred Chandler, Scale and Scope (Cambridge, MA: Harvard University Press, 1990). 7 . Michael Porter, “From Competitive Advantage to Corporate Strategy,” Harvard Business Review (May‐June 1987), pp. 43–59. 8 . “Zaiteku Sends Stocks and Tokkin Soaring,” Euromoney: Special Survey , April 1987, pp. 130–131. 9 . Corporate financial managers may still have been right about the cost of their company's equity, but for the wrong reason.

Journal

Journal of Applied Corporate Finance – Wiley

Published: Jan 1, 1991

There are no references for this article.