Excess capacity and difficulty of exit : evidence from Japan's electronics industry / Sumio Saruyama, Peng Xu.
Saruyama, Sumio, author.; Xu, Peng, author.
2021
HD9696.A3 J3 2021
Available Online

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Title Excess capacity and difficulty of exit : evidence from Japan's electronics industry / Sumio Saruyama, Peng Xu.
Author Saruyama, Sumio, author.
ISBN 9789811649004 (electronic bk.)
9811649006 (electronic bk.)
9789811648991
9811648999
DOI https://doi.org/10.1007/978-981-16-4900-4
Published Singapore : Springer, [2021]
Copyright ©2021
Language English
Description 1 online resource : illustrations (chiefly color)
Other Standard Identifiers 10.1007/978-981-16-4900-4 doi
Call Number HD9696.A3 J3 2021
Dewey Decimal Classification 338.7/621380952
Summary 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" segmentsintra-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
Bibliography, etc. Note Includes bibliographical references.
Access Note Access limited to authorized users.
Source of Description Online resource; title from PDF title page (SpringerLink, viewed September 22, 2021).
Added Author Xu, Peng, author.
Series SpringerBriefs in economics. Development Bank of Japan research series. 2367-0975
Available in Other Form Excess capacity and difficulty of exit.
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Introduction
Zombie Businesses in Electronics Industry: Case Studies
Misallocation of Internal Fund to Loss-Making Zombie Businesses in Electronics Industry
Slow Downsizing after Mergers of Individual Loss-Making Parts and Components Divisions
Final Remarks.

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