Complementarities in Corporate Governance: A Survey of the Literature with Special Emphasis on JapanKiel Institute of World Economics, 1999 - 60 sider |
Innhold
Introduction | 4 |
Empirical Evidence on Performance | 22 |
Exogenous Shocks and Pressure for Change | 44 |
Vanlige uttrykk og setninger
agency conflicts agency costs agency problems Aoki argues assets bankruptcy legislation Berglöf bond finance bond market bubble economy capital markets capital structure cash complementarities concentrated ownership controlling and minority corporate bond corporate control corporate governance systems cross-shareholdings debt holdings depositors economy empirical evidence equity ernance ex ante financial distress firm's free cashflow problems free rider problems governance instruments Hence Hoshi hostile takeovers industry insider trading institutional environment Japan Japanese corporate governance Japanese firms Japanese Main Bank Japanese system Jensen and Meckling keiretsu Kiel less leverage liberalization liquidity loans main bank relationships Main Bank System market for corporate Market Liquidity minority investors minority owners minority shareholders non-financial firms opportunity cost owners and creditors owners and managers ownership concentration ownership stakes pecuniary incentives percent problems between owners profits protection reforms regulations relatively reorganization role share price sources of finance stock market stock returns stylized facts system of corporate tend tion turnover