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Corporate Financing and Governance in Japan: The Road to the Future (Mit Press),New
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In this book, Takeo Hoshi and Anil Kashyap examine the history of the Japanese financial system, from its nineteenthcentury beginnings through the collapse of the 1990s that concluded with sweeping reforms. Combining financial theory with new data and original case studies, they show why the Japanese financial system developed as it did and how its history affects its ongoing evolution.The authors describe four major periods within Japan's financial history and speculate on the fifth, into which Japan is now moving. Throughout, they focus on four questions: How do households hold their savings? How is business financing provided? What range of services do banks provide? And what is the nature and extent of bank involvement in the management of firms? The answers provide a framework for analyzing the history of the past 150 years, as well as implications of the justcompleted reforms known as the 'Japanese Big Bang.'Hoshi and Kashyap show that the largely successful era of bank dominance in postwar Japan is over, largely because deregulation has exposed the banks to competition from capital markets and foreign competitors. The banks are destined to shrink as households change their savings patterns and their customers continue to migrate to new funding sources. Securities markets are set to reemerge as central to corporate finance and governance.
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- Q: What is the main focus of 'Corporate Financing and Governance in Japan'? A: The book examines the history of the Japanese financial system, its evolution from the nineteenth century, and the impact of the 1990s financial collapse and subsequent reforms.
- Q: Who are the authors of this book? A: The book is authored by Takeo Hoshi and Anil Kashyap, who analyze Japan's financial history and its implications for the future.
- Q: What are the key questions addressed in the book? A: The authors focus on four main questions: how households hold their savings, how business financing is provided, the range of services banks offer, and the nature of bank involvement in firm management.
- Q: How many pages does the book have? A: The book contains 378 pages.
- Q: What is the publication date of this book? A: The book was published on January 31, 2004.
- Q: What is the condition of the book? A: The book is brand new and in paperback binding.
- Q: What are the major themes discussed in the book? A: The book discusses themes such as the evolution of the Japanese financial system, bank dominance, deregulation, and the shift towards capital markets in corporate finance.
- Q: Is this book suitable for someone not familiar with finance? A: While the book incorporates financial theory, it also includes case studies that may help readers with varying levels of knowledge understand the complex topics.
- Q: What category does this book fall under? A: This book is categorized under 'Banks & Banking'.
- Q: Does this book provide case studies? A: Yes, it includes original case studies that illustrate the authors' analysis of the Japanese financial system.