Why did financial keiretsu develop in Japan, but not in Germany and the United States? Why is bank intermediation more dominant in Germany and Japan than in the United States? What are the advantages and disadvantages of each system?
Capital Markets and Corporate Governance in Japan, Germany and the United States answers these and related questions. Helmut Dietl explains capital market intermediation, holding companies, multidivisional organizations, financial keiretsu, and LBO associations as organizational responses to capital market inefficiencies. Country-specific responses are described as a consequence of country-specific financial regulations. Each regulatory regime results in specific capital market inefficiencies. Comparative capital market and corporate data highlight the major strengths and weaknesses of each system. This book provides a comprehensive and innovative analysis of German, Japanese and U.S. regulations.
|Theoretical Framework||p. 4|
|Empirical Evidence from Germany, Japan and the United States||p. 111|
|Name Index||p. 190|
|Subject Index||p. 193|
|Table of Contents provided by Publisher. All Rights Reserved.|
Series: Routledge Studies in the Modern World Economy
Audience: Tertiary; University or College
Number Of Pages: 212
Published: 16th July 2005
Publisher: Taylor & Francis Ltd
Country of Publication: GB
Dimensions (cm): 21.6 x 14.0 x 1.6
Weight (kg): 0.39
Edition Number: 1