2005 Fiscal Year Final Research Report Summary
Sustainability of Zaibatsu/Chaebol in Japan and Korea - Comparison on Korean Chaebol after the 1997 economic crisis and Mitsui Zaibatsu in the last stage in pre-war Japan -
| Project/Area Number |
15330073
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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 | The University of Tokyo |
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Principal Investigator |
HATTORI Tamio The University of Tokyo, Graduate School of Humanities and Sociology, Professor, 大学院・人文社会系研究科, 教授 (10238032)
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| Co-Investigator(Kenkyū-buntansha) |
YUI Tsunehiko Bunkyo Gakuin University, Department of Management, Professor, 経営学部, 教授 (10061847)
KOH Yong-su Konan University, Department of Economics, Professor, 経済学部, 教授 (40234687)
KIKKAWA You Mitsui Bunko, Researcher, 研究員 (20201460)
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| Project Period (FY) |
2003 – 2005
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| Keywords | Korean Chaebol / Japanese Zaibatsu / Family business / Governance / Stockholding and management / Salaried manager |
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| Research Abstract |
Does Zaibatsu/Chaebol is sustainable as a management system? This research project started from this question, and analyzed the structure of Japanese Zaibatsu's stockholdings in the pre-war period and Korean Chaebol's in the present days, the state of cooperate governance, and the adjustment to the change of outside economic and social environment of Zaibatsu/Chaebol. If Zaibatsu/Chaebol is categorized as family business, it is usual management style, however if it is diversified, it is not seen in western world. Because Zaibatsu/Chaebol is formed in the period of economic development of the late comer countries, it is seen not only in Asia but also Latin America. The reason why these types of business groups were formed is an insufficient of management resources in development process in late comer countries. If so, Zaibatsu/Chaebol's appropriateness is restricted in a matured economic stage.
Family's control over Zaibatsu/Chaebol became weak after the liberalization of the market, participation of foreign capital to the market, and people's request to increase transparency of the cooperate governance. Present Korean Chaebols are changing along this social atmosphere. However, it is not so easy to adjust rapidly changing environment even in the process of expanding. For example, Mitsui's financial standing got worse rapidly in the process of expanding in its figure under the war economy, and many Korean rapidly expanding medium or small size Chaebols faced bankruptcy in 1997 Korean economic crisis.
However, in our research project we denied circulated claims that Zaibatsu/Chaebol management system itself is inefficient. Our tentative opinion to gain through this research project is that Zaibatsu/Chaebol's diversified figure will be gradually restructured, and only Zaibatsu/Chaebol that adjust to the changing environment can sustain as a giant family business, however diversified giant family business is not sustainable no longer.
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Research Products
(20 results)
