We aim here for a better understanding of the Japanese keiretsu. Our essential claim is that to understand the Japanese system – banks with extensive investment in industry and industry with extensive cross-ownership – we must understand the problems of industrial organization, not just the problems of corporate governance. The Japanese system, we assert, functions not only to harmonize the relationships among the corporation, its shareholders, and its senior managers, but also to facilitate productive efficiency.
Business Organizations Law | Law | Law and Economics
Ronald J. Gilson & Mark J. Roe,
Understanding the Japanese Keiretsu: Overlaps Between Corporate Governance and Industrial Organization,
Yale Law Journal, Vol. 102, p. 871, 1993; Stanford Law & Economics Olin Working Paper; Harvard Public Law Working Paper
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