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Books > Business & Economics > Industry & industrial studies > Manufacturing industries > Hi-tech manufacturing industries
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Excess Capacity and Difficulty of Exit - Evidence from Japan's Electronics Industry (Paperback, 1st ed. 2021)
Loot Price: R1,659
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Excess Capacity and Difficulty of Exit - Evidence from Japan's Electronics Industry (Paperback, 1st ed. 2021)
Series: Development Bank of Japan Research Series
Expected to ship within 12 - 17 working days
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This book provides cases and analyses of causes and consequences of
difficulty in downsizing and exiting in the electronics industry
during the "two lost decades" in Japan. Because of excess capacity
in the industry, many electronics companies have been required for
downsizing and exit since the 1990s. Exploiting corporate financial
and segment datasets, it shows empirical evidence of misallocation
of internal funds to "zombie" segments-intra-firm businesses
suffering losses consecutively. The topics addressed in the book
include the failure of Japanese corporate internal control systems,
the lack of capital market pressure, employment protection, and
misallocation of internal funds to businesses with few prospects.
The last two decades indicate that the Japanese corporate
governance systems have failed to resolve problems of excess
capacity, as did US systems in the 1980s. Zombie lending is no more
than one phase of the difficulty of downsizing and exit in response
to excess capacity in the banking sector. Supported by both data
analyses and rich anecdotal evidence, this book is highly
recommended to readers who seek a convincing and comprehensive
explanation of Japan's two lost decades from the points of view of
difficulty in downsizing and exit. The authors' analyses have
implications not only for accelerating downsizing and exit in
corporate Japan, but also for the world economy.
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