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Japanische Unternehmensgruppen: Eine empirische Analyse

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  • Moerke, Andreas

Abstract

Das Paper präsentiert eine Untersuchung von 72 großen japanischen Industrieaktiengesellschaften, die in der am Wissenschaftszentrum Berlin geführten japanischen Unternehmensdatenbank enthalten sind. Untersucht wurde, wie sich Unternehmen, die einer der sechs horizontalen Unternehmensgruppen (keiretsu) angehören, von denen unterscheiden, die ungebunden sind. Maßstab für die Gruppenbindung war die Zugehörigkeit zu einem der Presidents' Council. Es zeigte sich, daß die keiretsu- Unternehmen nicht erfolgreicher sind als die ungebundenen Unternehmen und daß die Beziehung zur Main Bank den keiretsu-Unternehmen noch immer eine wesentlich höhere Verschuldung erlaubt. Bei der Produktionsfunktion nähern sich die Werte der Stichproben an. Bei der Verteilungspolitik zeigt sich, daß die keiretsu-Unternehmen einen Teil der Gewinne in Form höherer Löhne an die Beschäftigten weitergeben, während die ungebundenen Unternehmen durch höhere Dividenden für Investoren attraktiv sein müssen.

Suggested Citation

  • Moerke, Andreas, 1997. "Japanische Unternehmensgruppen: Eine empirische Analyse," Discussion Papers, Research Unit: Market Dynamics FS IV 97-42, WZB Berlin Social Science Center.
    • Handle: RePEc:zbw:wzbmdy:fsiv9742
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    References listed on IDEAS

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    1. Albach, Horst & Moerke, Andreas, 1996. "Die Überlegenheit der japanischen Unternehmen im globalen Wettbewerb," Discussion Papers, Research Unit: Market Dynamics FS IV 96-4, WZB Berlin Social Science Center.
    2. Takeo Hoshi & Anil Kashyap & David Scharfstein, 1991. "Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 106(1), pages 33-60.
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    1. Moerke, Andreas, 1997. "Does governance matter? Performance and corporate governance structures of Japanese keiretsu groups," Discussion Papers, Research Unit: Market Dynamics FS IV 97-43, WZB Berlin Social Science Center.
    2. Moerke, Andreas & Görtzen, Ulrike & Zobel, Rita, 2000. "Grundlegende methodische Überlegungen zur mikroökonomischen Forschung mit japanischen Unternehmensdaten," Discussion Papers, Research Unit: Market Dynamics FS IV 00-07, WZB Berlin Social Science Center.
    3. Albach, Horst & Görtzen, Ulrike & Miarka, Tobias & Moerke, Andreas & Westphal, Thomas & Zobel, Rita, 2000. "Documentation of the Kaisha-Database - The annual accounts database of Japanese stock companies 1970-1999. With a detailed glossary of Japanese accounting terminology," Discussion Papers, Research Unit: Market Dynamics FS IV 00-10, WZB Berlin Social Science Center.

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