2011 Fiscal Year Final Research Report

The Management and restructuring of corporate subsidiaries in Japan

Research Project

Project/Area Number	21530404
Research Category	Grant-in-Aid for Scientific Research (C)
Allocation Type	Single-year Grants
Section	一般
Research Field	Business administration
Research Institution	Aoyama Gakuin University
Principal Investigator	USHIJIMA Tatsuo 青山学院大学, 国際マネジメント研究科, 教授 (80365014)
Project Period (FY)	2009 – 2011
Keywords	企業グループ / リストラクチャリング / 子会社 / 閉鎖 / 売却
Research Abstract	This study investigates factors affectingthe Japanese firm's decision to divest a subsidiary and those influencing the firm's choice of divestment mode(i. e. closure vs. selloff). We find that closure and selloff target differentkinds of subsidiaries : While closure is mainly used to remove an unprofitable subsidiary, selloff normally targets non-core subsidiaries which are more salable than the rest of the firm. This finding suggests that, though closure and selloff are both amethod of downsizing, they play heterogeneousroles in corporate restructuring.

(2 results)