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Series

Columbia Law School

1993

Yale Law Journal

Business Organizations Law

Articles 1 - 1 of 1

Full-Text Articles in Law

Understanding The Japanese Kieretsu: Overlaps Between Corporate Governance And Industrial Organization, Ronald J. Gilson, Mark J. Roe Jan 1993

Understanding The Japanese Kieretsu: Overlaps Between Corporate Governance And Industrial Organization, Ronald J. Gilson, Mark J. Roe

Faculty Scholarship

We aim here for a better understanding of the Japanese keiretsu. Our essential claim is that to understand the Japanese system – banks with extensive investment in industry and industry with extensive cross-ownership – we must understand the problems of industrial organization, not just the problems of corporate governance. The Japanese system, we assert, functions not only to harmonize the relationships among the corporation, its shareholders, and its senior managers, but also to facilitate productive efficiency.