paper investigates whether bank ties in Japan were costly for mature and healthy firms in the 1980's and 1990's, and whether …

This paper reviews the literature on corporate groups in Japan and elsewhere, and offers a comparison of Japan … groups in Japan since the mid-1970s. The main conclusions that emerge are that: 1. Empirical evidence on the economic roles … of corporate groups in Japan is limited. 2. Japanese groups are, in some respects, quite similar to groups in other …

We show that industrial ownership structures, such as keiretsu groupings in Japan, may significantly impact firms …

conglomerates are most likely to operate and to understand conglomerate valuations. We find that conglomerates are more likely to … opportunities "between" them. Conglomerate firms have lower stock market valuations than matched single-segment firms when their … products are easier to replicate with single-segment firms. Conglomerate firms have stock market premiums when they have higher …

Japan's sogo shosha, and the ubiquity of government export promotion policies such as subsidized trade missions …