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Dick Beason,Vikas Mehrotra 한국경제연구학회 2018 Korea and the World Economy Vol.19 No.1
After the collapse of Japanese asset markets at the end of 1989 many observers expected dramatic transformation of the Japanese labor market, especially in terms of the system of permanent employment. During the ‘lost decade’ of the 1990’s, however, there was a growing consensus that Japanese firms were unwilling to restructure. From the end of the 1990’s to the present, however, Japanese firms have undertaken changes in order to adapt, among these has been a steady increase in the utilization of temporary employees. Despite this trend, we find that permanent employment continues to be important for research intensive firms.
Restructuring and Performance among Japanese Firms after Prudential Policy Reform
Beason, Dick,Gordon, Ken,Mehrotra, Vikas,Watanabe, Akiko KNU The Institute of Management Economy Research 2010 Asia-Pacific Journal of Business Vol.1 No.1
After over a decade of sluggish economic growth accompanied by massive fiscal stimulus in the 1990s, it remains an open question whether and how Japanese firms have restructured their operations, and whether these efforts have borne any fruit. Using a randomly selected sample of 300 firms from the Tokyo Stock Exchange, we collect all restructuring announcement in the FY 2000-2001 (April 2000-March 2002) period. Our results are striking in that while we find that firms engaging in restructuring of various sorts display improved earnings in the period following the restructuring announcement, shareholders do not appear to benefit at the time of the restructuring announcements.
Restructuring and Performance among Japanese Firms after Prudential Policy Reform
Dick Beason,Ken Gordon,Vikas Mehrotra,Akiko Watanabe 강원대학교 경영연구소 2010 Asia-Pacific Journal of Business Vol.1 No.1
After over a decade of sluggish economic growth accompanied by massive fiscal stimulus in the 1990s, it remains an open question whether and how Japanese firms have restructured their operations, and whether these efforts have borne any fruit. Using a randomly selected sample of 300 firms from the Tokyo Stock Exchange, we collect all restructuring announcement in the FY 2000-2001 (April 2000-March 2002) period. Our results are striking in that while we find that firms engaging in restructuring of various sorts display improved earnings in the period following the restructuring announcement, shareholders do not appear to benefit at the time of the restructuring announcements.
A Survey of Asian Family Business Research
Morten Bennedsen,Yi-Chun Lu,Vikas Mehrotra 한국증권학회 2022 Asia-Pacific Journal of Financial Studies Vol.51 No.1
We survey the literature on family firms with a focus on Asian countries. We begin with identifying three key motivational drivers of international research on family business—their dominance, relative performance, and extent of family embeddedness in the business. Second, we provide a brief survey of family firms in eight Asian economies with a focus on the history and current challenges faced by family firms in each country. Third, we document the variety of family firm definitions used in the literature and the resulting difficulty in drawing inferences due to a lack of definitional consistency. Fourth, we discuss the strategic advantages family assets such as legacy and networks bring to family firms in the Asian context. Fifth, we identify some unique challenges family firms face in their countries, and provide examples of how ownership and succession structures mitigate these challenges. We close this survey by suggesting some open research questions relevant for Asian family firms.