دانلود مقاله ISI انگلیسی شماره 80285
ترجمه فارسی عنوان مقاله

ساختار مالکیت و سود دهی شرکت در کی ریستو ژاپنی

عنوان انگلیسی
Ownership structure and firm profitability in the Japanese keiretsu
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
80285 2005 22 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Asian Economics, Volume 16, Issue 3, June 2005, Pages 533–554

ترجمه کلمات کلیدی
شرکت های ژاپنی؛ مالکیت شرکت؛ ادغام عمودی
کلمات کلیدی انگلیسی
G32; L22Keiretsu; Japanese firms; Firm ownership; Vertical integration
پیش نمایش مقاله
پیش نمایش مقاله  ساختار مالکیت و سود دهی شرکت در کی ریستو ژاپنی

چکیده انگلیسی

Financial institutions within Japan's corporate groups, called keiretsu, are both lenders and shareholders of member firms. Current literature has failed to produce unanimity about how ownership of firms by financial institutions affects firm profitability. Competing theories propose that banks use this position as shareholder either to promote firm profitability, or to increase lending to generate interest revenue. This paper uses panel data to show that bank ownership results in profit non-maximization if the bank simultaneously holds debt in the firm. It is also shown that, despite continuing financial deregulation, the significance of ownership integration within the keiretsu has remained unchanged.