firms faced problems that closely mirrored those in modern eastern Europe. Yet in Japan, the successful large firms did not … in the cotton-spinning industry (arguably the most important industrial sector in turn-of-the-century Japan), we explore …

capital only from a few concentrated sources. Firms in Japan at the close of the 19th century faced a similar "transitional … succeeded in Japan were not the ones that took the tack proposed by modern observers of transitional economies. They were the … equity did not reduce firm efficiency in late-19th century Japan. Although investors with relatively large stakes can indeed …

capital only from a few concentrated sources. Firms in Japan at the close of the 19th century faced a similar "transitional … succeeded in Japan were not the ones that took the tack proposed by modern observers of transitional economies. They were the … equity did not reduce firm efficiency in late-19th century Japan. Although investors with relatively large stakes can indeed …