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      • KCI등재

        日本의 마이너스 金利政策과 日本 国內市場에 미치는 影響

        崔聖伯(Choi, Sung-Baig) 한국일본문화학회 2017 日本文化學報 Vol.0 No.72

        Prof. Joseph Eugene Stiglitz shows worry that quantitative easing providing the money on the market or negative interest rate policy to escape recession might bring about widening of inequality and weakening of the banking system so that it might have a negative impact on small businesses and small traders. Negative interest policy has a positive respect of the activation of the domestic economy, while it cannot exclude the possibility of bubble such as capital inflow into real estate. Practically shortly after negative interest was executed, Tokyo Stock Exchange"s real estate investment trust index continued to rise. Secondly, due to deposit interest rate cut of Post Bank with Japan"s largest deposits, it is likely that it affects other banks. It is a matter of alarming situation of bankruptcy because of bad profitability of commercial banks. Thirdly, it seems a weak yen would have limited effect. Immediately following the introduction of negative interest, there occurred long-term interest rate fall, stock price ascent and the drop in the exchange rate in the domestic market of Japan. Especially, it was difficult to expect yen"s real interest rate decrease supposed to be a driving force for a weak yen. At present Japan"s long-term interest rates dropped by 0.1 percent and the capacity of nominal interest rate decrease is limited. It is a different situation from 1.4% of German’s interest rates when introduced negative interest. Fourthly, it seems there will be a huge impact on domestic financial institutions.

      • KCI등재

        三菱企業集團의 成長과 課題

        崔聖伯(Choi, Sung-Baig) 대한일어일문학회 2021 일어일문학 Vol.89 No.-

        Looking back the history of Mitsubishi in the Meiji era, its history of 75 years can be seen as a single paragraph. Seventy-five years later, the "zaibatsu," or coglomerate, was disbanded, and the next 75 years saw a high economic growth in the Showa era and the collapse of the bubble economy in the Heisei era. The following years are now marked by globalization and rapid digitalization, the time-honored corporate history has accumulated a mountain of management know-how. Professor Iriyama Akiyue cited Mizubishi"s strength for the theory of transaction costs, saying that it is inefficient to develop only a single business in an emerging economy. In order to deal with what they can"t do or what they can do, they need to cooperate with other companies, which leads to market transactions. In order for market transactions to work efficiently, infrastructure such as administration and law must be well-established. For example, if a dispute occurs with a local partner in an emerging country that lacks infrastructure, time is needed before a legal procedure, which is likely to the benefit of those who use bribes. After all, transaction costs are high. To streamline transaction costs, if companies A and B belong the same corporation, intra-company transactions are possible at a lower cost. Therefore, Mitsubishi can also reduce transaction costs when mutual cooperation is possible due to its flexible relationship with subsidiaries. In this regard, Mitsubishi has strengths, but it also poses a new challenge in the new digital era due to waning competitiveness of core businesses, time-consuming decision-making processes, and high investment barriers in Japan.

      • KCI등재
      • KCI등재

        中國經濟의 不安定性 增大와 日本企業의 對應戰略

        崔聖伯(Choi, Sung-Baig) 한국일본문화학회 2015 日本文化學報 Vol.0 No.66

        Presently, the Chinese real estate market is facing the increased possibility of a price collapse due to the imbalance between supply and demand. The risk is coming from the government, particularly the bubble in the governmental system. It is needed to pay attention to how great roles urbanization policy plays for the real estate’s oversupply and price maintenance, but if urbanization fails, it will be impossible to avoid the bubble in its governmental system. In this situation, there is a phenomenon that overseas companies are leaving the Chinese market. Due to the increase in production costs inside China and severer competition against indigenous companies, they are leaving China successively. Since the phenomenon of overseas companies leaving China leads to not only reduction in investment but deprivation of advanced technology, Chinese economy will face negative effects after all such as difficulty in its advancement and its deteriorated image shown to other countries. Especially, among non-overseas Chinese, we have to pay attention to Japanese companies making a lot of investment to China. Lately, Japanese companies are increasing their investment to ASEAN regions while reducing their investment to China significantly. But the phenomenon of Japanese companies leaving China can be seen as their strategic correction for business. First, they are reducing overseas transfer or business expansion for areas where competition is fierce and are looking for the ways of aggressive advancement into the areas with high potentials for new business.

      • KCI등재
      • KCI등재

        일본 기업집단의 주식소유구조의 특질

        崔聖伯 韓日經商學會 2001 韓日經商論集 Vol.22 No.-

        本號の目的は,日本の企業集團び獨立企業集團の株式構邊を分析したものである.したがって本號では,第2次世界大戰以後,6大企業集團び獨立企業集團の特を考素し,次のことを明らかにした. 第1に,日本の企業集團は戰前財▣が解體され,戰後新たに形成されたもので·ある. 第2に,企業集團のおもな特は株式の相互持ち合ぃ,註長음の存在,中枝銀行による系列融資,集團的豫1などである 第3に,企業集團は株式の相互持ち合ぃをもとに相互團結または相互協力し合う. 第4に,相互持ち合ぃの效果は,一っ目はグル一プの結東の化とメンバ一企業間企業經營が順調·發展できるよう協力關係を促させる.ニっ目は經營の安定化である.三っEは經營危險負擔の機能である.圖っ目は企業集團共有のブレンドによる廣告效果の發揮でき ることで'ある. 第5に,企業集團と獨立企業集團は株式有構のぃである.企業集團の有構業は卓型であるに對して,獨立企業集團の有構は效財線型である. 第6に,日本の金融機關の役割である.各企業集團の金融機關が重要な資金供給の役割を果たしてぃる.企業集團の金融機關はクル一プ的最大の株主であり,最犬の債權である.各金融機關は融資先iニ取締役を派邊し,系列企業ニ숲融,經營報の提供,同時に經營監督を行う.企業集團流金融機關はンバ一企業との株式の相互持ち合ぃことで安定株主である. 第7に,株式の相互持ち合ぃを基に各最高經營▣は相互術東し,拘fされ,そして相互新任 し,企業集團を支配してぃる.

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