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<図書>
Corporate financing and governance in Japan : the road to the future

責任表示 Takeo Hoshi and Anil K. Kashyap ; [foreword by Stanley Fischer]
データ種別 図書
出版情報 Cambridge, Mass. : MIT Press , c2001
本文言語 英語
大きさ xx, 358 p. : ill. ; 24 cm
概要 In this book Takeo Hoshi and Anil Kashyap examine the history of the Japanese financial system, from its nineteenth-century beginnings through the collapse of the 1990s that concluded with sweeping re...orms. Combining financial theory with new data and original case studies, they show why the Japanese financial system developed as it did and how its history affects its ongoing evolution. The authors describe four major periods within Japan's financial history and speculate on the fifth, into which Japan is now moving. Throughout, they focus on four questions: How do households hold their savings? How is business financing provided? What range of services do banks provide? And what is the nature and extent of bank involvement in the management of firms? The answers provide a framework for analyzing the history of the past 150 years, as well as implications of the just-completed reforms known as the "Japanese Big Bang." Hoshi and Kashyap show that the largely successful era of bank dominance in postwar Japan is over, largely because deregulation has exposed the banks to competition from capital markets and foreign competitors. The banks are destined to shrink as households change their savings patterns and their customers continue to migrate to new funding sources. Securities markets are set to re-emerge as central to corporate finance and governance.
In this book Takeo Hoshi and Anil Kashyap examine the history of the Japanese financial system, from its nineteenth-century beginnings through the collapse of the 1990s that concluded with sweeping reforms. Combining financial theory with new data and original case studies, they show why the Japanese financial system developed as it did and how its history affects its ongoing evolution. The authors describe four major periods within Japan's financial history and speculate on the fifth, into which Japan is now moving. Throughout, they focus on four questions: How do households hold their savings? How is business financing provided? What range of services do banks provide? And what is the nature and extent of bank involvement in the management of firms? The answers provide a framework for analyzing the history of the past 150 years, as well as implications of the just-completed reforms known as the "Japanese Big Bang." Hoshi and Kashyap show that the largely successful era of bank dominance in postwar Japan is over, largely because deregulation has exposed the banks to competition from capital markets and foreign competitors. The banks are destined to shrink as households change their savings patterns and their customers continue to migrate to new funding sources. Securities markets are set to re-emerge as central to corporate finance and governance.
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所蔵情報



中央図 自動書庫 338.21/H 92 2001
003212001007292

書誌詳細

一般注記 Includes bibliographical references (p. [329]-346) and indexes
著者標目 *星, 岳雄 <ホシ, タケオ>
Kashyap, Anil K.
Fischer, Stanley, 1943-
件 名 LCSH:Finance -- Japan -- History  全ての件名で検索
LCSH:Banks and Banking -- Japan -- History  全ての件名で検索
LCSH:Corporations -- Japan -- Finance -- History  全ての件名で検索
LCSH:Corporate governance -- Japan -- History  全ての件名で検索
分 類 NDC9:338.21
書誌ID 1000731800
ISBN 0262083019
NCID BA53797753
巻冊次 : hard ; ISBN:0262083019
: pbk ; ISBN:9780262582483 ; XISBN:0262582481
登録日 2009.09.15
更新日 2009.09.15