+612 9045 4394
Corporate Capitslism in Japan : Classics in the History and Development of Economics - Hiroshi Okumura

Corporate Capitslism in Japan

Classics in the History and Development of Economics

By: Hiroshi Okumura, Douglas Anthony (Translator), Naomi Brown (Translator)

Hardcover Published: 15th May 2000
ISBN: 9780333575321
Number Of Pages: 165

Share This Book:


or 4 easy payments of $61.99 with Learn more
Ships in 5 to 9 business days

In characterizing the Japanese way of business, Professor Okumura has made one of the most significant contributions to the study of economics. Following his study of the conversion of pre-war zaibatsu to post-war groups of enterprises, he investigates the roll of comprehensive trading companies in these groups, the main banking system and the permanent employment system. However, he has been very critical of this way of business, whereas those influenced by him have enthusiastically propagated his theory without reservation. This is the first English translation of his work.

Industry Reviews

'...an excellent contribution.' - Kiyoshi Kawahito, Pacific Affairs

General Editor's Forewordp. ix
Introduction: Banking and Industry in Japanp. xi
Author's Preface (1983)p. lix
What Is Corporate Capitalism?
The 'Companised' Societyp. 3
'The company state'p. 3
Companies and culturep. 6
The 'companisation' of educationp. 9
The abnormal growth of company consciousnessp. 11
The Logic of Corporate Capitalismp. 13
Organisations and peoplep. 13
Loyalty to the companyp. 15
'The status of the company' and 'the status of the human being'p. 18
The 'Companism' Systemp. 21
Japanese-style managementp. 21
Internalising into the companyp. 24
The utility of the fiction of the corporate personp. 27
The Japanese Company
The 'Corporatisation' of Shareownershipp. 35
The dispersal of the private shareholderp. 35
The phenomenon of 'corporatisation'p. 37
The significance of companies owning shares in companiesp. 40
Mutual shareownershipp. 42
Institutional ownership and corporate ownershipp. 44
Dividends and Share Pricesp. 48
The erosion of dividendsp. 48
Dividend policy in Japanp. 50
Why dividends do not increasep. 52
The share price mechanismp. 55
Demand, supply and share pricesp. 57
Growth in the practice of issuing shares at market pricep. 58
Exploiting high share pricesp. 61
Takeoversp. 64
The joint-stock company and takeoversp. 64
The safe shareholder strategyp. 66
Cornering shares: the Japanese wayp. 68
'Companism' and the prevention of takeoversp. 70
Who Rules Japan?p. 77
An invisible structurep. 77
The power structure of the business communityp. 79
Mangers of large firmsp. 81
Large private shareownersp. 83
From private capitalism to corporate capitalismp. 85
Managers and Shareholdersp. 88
The structure of top management in Japanp. 88
Relationship with shareholdersp. 91
Managers and share pricesp. 92
Managers and Employeesp. 95
Promoting managers from withinp. 95
Managers as workers' representatives?p. 97
Employee participation in managementp. 98
Representatives of the Companyp. 101
The basis of managerial authorityp. 101
Control based on corporate shareholdersp. 102
Representative of the companyp. 103
Representative directorsp. 105
The Privilege and Position of Managementp. 108
Who determines management?p. 108
Who becomes manager?p. 109
A manager's wealth and incomep. 111
Relations Between Firms
Fixed Relationsp. 117
Problems with the inter-firm relationship theoryp. 117
Trading between firms in Japanp. 118
The theory behind trade among firmsp. 120
The factors making relationship rigidp. 122
Mutual Control and Mutual Dependencyp. 125
Theory on mutual tradep. 125
Japan's reciprocal businessp. 127
Trading within the industrial groupp. 129
Mutual shareholdingsp. 130
Elements which support 'companism'p. 131
Externalisation and Formation of Keiretsup. 133
Externalisation by large firmsp. 133
The realities of industry's keiretsup. 134
The aim of forming a keiretsup. 135
The tools of the keiretsup. 137
Logic of externalisationp. 138
Exclusionary Characterp. 141
Trade frictionp. 141
The Japanese government's responsep. 142
Opposition to financial liberalisationp. 144
Competition among firmsp. 146
Institutional Frameworkp. 149
Relationships between companiesp. 149
Anti-monopoly lawp. 151
Japan's large corporation systemsp. 153
Regulation of mutual shareholdingp. 155
Indexp. 159
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780333575321
ISBN-10: 0333575326
Series: Classics in the History and Development of Economics
Audience: General
Format: Hardcover
Language: English
Number Of Pages: 165
Published: 15th May 2000
Country of Publication: GB
Dimensions (cm): 21.59 x 14.0  x 1.75
Weight (kg): 0.44
Edition Number: 1