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008			210915s2021 si | o |||| 0|eng d
020			_a9789811649004
024	7		_a10.1007/978-981-16-4900-4 _2doi
040			_aES-VaU _bspa _cES-VaU _dES-VaU
050		4	_aHF4999.2-6182 _b2021 EB
100	1		_aSaruyama, Sumio. _eautor. _4aut _4http://id.loc.gov/vocabulary/relators/aut
245	0	0	_aExcess Capacity and Difficulty of Exit : _bEvidence from Japan's Electronics Industry _cby Sumio Saruyama, Peng Xu
250			_a1st ed. 2021.
264		1	_aSingapore _c2021 _bSpringer International Publishing
300			_a1 recurso en línea
336			_atexto _btxt _2rdacontent
337			_aelectrónico _bc _2rdamedia
338			_arecurso electrónico _bcr _2rdacarrier
490	0		_aDevelopment Bank of Japan Research Series _x2367-0975
505	0		_aIntroduction -- 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.
520			_aThis 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.
856	4	0	_uhttps://go.openathens.net/redirector/universidadeuropea.es?url=https://doi.org/10.1007/978-981-16-4900-4 _zAcceso a este recurso digital (usuarios Universidad Europea de Valencia)
942			_2lcc _cLE
988			_aSpringer_Business_2021
999			_c239063 _d239063