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The Keiretsu Advantage: How Japanese Automakers Thwarted American Competition, Jasper Boers
The Keiretsu Advantage: How Japanese Automakers Thwarted American Competition, Jasper Boers
The Yale Undergraduate Research Journal
Today, Japan’s auto industry is renowned for its dominance of foreign markets. Japanese cars are cheap and fuel-efficient, undercutting larger, more expensive automobiles from Europe and America. Scholarship on recent Japanese industrial development tends to prioritize a ‘developmental state’ and robust industrial policy in shielding Japanese manufacturers from trade liberalization. This paper will argue that, while the industrial policy steered by the Ministry of International Trade and Industry (MITI) played a significant role in advancing the interests of the Japanese auto industry, it was ultimately the unique trust-based keiretsu conglomerate structure that gave Japanese auto producers a comparative advantage vis-à-vis …
Applied Statistical Models For Evaluating Firm Operating Performance And Investment Returns, Christopher Chen
Applied Statistical Models For Evaluating Firm Operating Performance And Investment Returns, Christopher Chen
The Yale Undergraduate Research Journal
This paper investigates the extent to which CEO, industry, firm, year, corporate parent, and business segment effects contribute to variation in the performance of public US companies classified by NAICS industry codes between 2010-2018. Applying several statistical models, the paper finds that 32.9% of segment profit variation is associated with business segment effects with negligible year effects (0.11%), similar to the findings of prior literature. This analysis also finds that corporate parent membership plays a larger role and industry and CEO effects play a smaller role in profit variation than previously suggested. These results have potential implications for the fields …