Capital Markets and Corporate Governance in Japan, Germany and the United States

Name: Capital Markets and Corporate Governance in Japan, Germany and the United States
Brand: Taylor & Francis

Taylor & Francis

This book explores a series of questions about the differences in the capital markets in Japan, Germany and the United States, and contains empirical and comparative studies from the three countries. > \nWhy 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?\nCapital 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 t.