The main bank system and corporate monitoring and control in Japan
The main bank system and corporate monitoring and control in Japan
复制标题
日本主要银行系统和企业监控
DOI：
10.1016/0167-2681(89)90037-1
复制
发表时间：
1989
影响因子：
2.2
通讯作者：
P. Sheard
中科院分区：
文献类型：
--
作者：
P. Sheard
通过对主银行制度的分析，可以了解日本经济组织的中介性。密切的银行-公司关系被解释为准内部资本市场的证据，其中主要银行将外部资本市场的监测和控制功能内部化。一个关键的见解是，主银行系统取代了日本“缺失”的收购市场。这种解释有助于解释银行行为中一些看似矛盾的方面。
Analysis of the main bank system provides insights into the intermediate nature of economic organization in Japan. Close bank-firm ties are interpreted as evidence of a quasi-internal capital market in which the main bank internalizes the monitoring and control functions of the external capital market. A key insight is that the main bank system substitutes for the ‘missing’ takeover market in Japan. This interpretation is helpful in explaining some seemingly paradoxical aspects of bank behavior.