1998 Fiscal Year Final Research Report Summary
A Hundred Years Of Japanese Companies From The Point Of View of Ownership, Control And Management-A Study Of Business History On Spinning Companies
| Project/Area Number |
08453020
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Business administration
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| Research Institution | Fukuyama Heisei University |
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Principal Investigator |
TANAKA Sanki Fukuyama Heisei University Faculty Of Management, Professor, 経営学部, 教授 (40171756)
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| Co-Investigator(Kenkyū-buntansha) |
FUKUI Masayasu Fukuyama Heisei University Faculty Of Management, Professor, 経済学部, 教授 (20199186)
YAKURA Shintaro Nara Sangyo University Faculty Of Economics, Professor, 経済学部, 教授 (90031393)
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| Project Period (FY) |
1996 – 1998
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| Keywords | management control / managerial enterprise / separation of ownership and control / spinning company / business history / salaried manager / top management structure / structure of stock ownership |
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| Research Abstract |
Under the deep economic depression, Japanese management system has been attracted the attention at home and abroad. The important features of the system are for example as follows.
1. Japanese firms have strong stockholders that are almost institutional ones and hold each other's shares.
2. Most members of board of directors consist of salaried managers.
These two points are the major arguments concerning ownership and control of modern business enterprise.
From the point of view of two features mentioned above, we have made investigation into some main Japanese spinning companies existing more than a hundred years from Meiji era to contemporary Heisei. We had two purposes of our joint research. One is to construct a Database System of top-management organization and structure of stock ownership of these companies. And the other is to study them individually by means of a historical and empirical approach.
Up to the present, We identified next some points.
a)As for the prewar term, after the
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emergence of large corporate stockholders firstly began at the turning point of l9^<th> and 2O^<th> century they gradually increased and took root between WW I and WWII.The rate of stock ownership held by the large-scale shareholders decreased with the growth of the firm and the dispersion of stock ownership was also occurred between large shareholders.
b)Concerning the postwar period, comparing the distribution of share ownership of listed corporations, we found that the rate of shareholdings of individual shareholders in spinning companies is fairly high and conversely the rate of financial institutions is low.
In consideration of these facts, we point out here some problems in future.
1) First we go on with our studying the structure of stock ownership and the top management organization in spinning companies, and try to examine the details of strong shareholders and salaried managers in the course of Japanese industrialization.
2) Moreover, we verify the existence, the role and the significance of shareholders' meeting and the board of directors from the beginning of the business corporations to the present.
3) The third is to clear the Japanese system of corporate governance in historical perspective. Less
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