The question of whether and how partial common-ownership links between strategically
interacting firms affect firm objectives and behavior has been the subject of theoretical …

We examine the hypothesis that business groups facilitate mutual insurance among
affiliated firms and find substantial evidence of risk sharing by Japanese, Korean, and Thai …

Businesspeople need contractual assurance. Most transactions are less straightforward than
a cash sale of an easily identifiable item. Buyers need assurance of the quality of what they …

We identify which types of ties best distinguish pairs of Chilean firms in the same business
group from pairs of Chilean firms that are not group brethren. Overlap in owners, indirect …

This study investigates whether a series of recent economic reforms on corporate
governance influence the operational performance of Japanese manufacturing industries …

Central to so many accounts of post‐war Japan, the keiretsu corporate groups lacked
economic substance from the start. Conceived by Marxists committed to locating …

Who holds the most control in our globalized world? How is economic control distributed
globally? To what degree are the top economic actors interconnected with each other …

We examine the use of partial equity stakes and volume-based dependence balancing in
Japanese automotive supply relationships. Building on Williamson's (1983) hostage model …

The purpose of this paper is to specify a formal model that rationalizes the intercorporate
shareholdings observed in the Japanese equity market as a mechanism for mutual …

We examine the effect of corporate governance structure on the relation between ownership
structure and financial leverage among Japanese firms. Under normal conditions, we find no …