Global players, Western tactics, Japanese outcomes: the new Japanese market for corporate control

Article Abstract:

This article, drawn from the recently published book Japanese Takeovers: The Global Contest for Corporate Control, examines the future development of a market for corporate control in Japan. The challenge for the Japanese system of corporate governance is to find a substitute for the lessening of capital market discipline caused by the decline in the dependence of firms on bank lending. A market for corporate control will emerge in Japan: managers will be replaced and capital will be reallocated. But this market will assume a distinctively Japanese character, one that reinforces rather than undermines the firm's long-term trading relationships. (Reprinted by permission of the publisher.)

Analysis, Finance, Acquisitions and mergers, Corporate governance, International competition (Commerce), International competition (Economics), Corporate finance

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How will the Japanese compete in retail services?

Article Abstract:

California, where many Japanese firms operate in the retail service sector, provides a laboratory to examine the extent to which the high levels of personal service that are routinely achieved in Japan have been exported to the United States. The eight Japanese firms examined in this study have not implemented the Japanese approach to service in the U.S. because they believe that the nature of the workforce and the environment make its implementation infeasible and because they do not believe it to be cost effective. Rather, the Japanese compete very much like U.S. firms with respect to personal service. (Reprinted by permission of the publisher.)

Services industry, Service industries

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