The Organization of Enterprise in Japan. (4th June 2015)

• Record Type: Journal Article
• Authors: Nicholas, Tom
• Is Part Of: Journal of economic history. Volume 75:Number 2(2015)
• Page Start: 333
• Page End: 363
• Publication Date: 2015-06-04
• Subjects: Economic history -- Periodicals; 330.9005
• DOI: 10.1017/S0022050715000649
• Languages: English
• ISSNs: 0022-0507

Abstract

Abstract : Recent research indicates the joint stock form was not a superior type of business organization in many countries historically. In Japan, however, its role was more pervasive. From 1896 to 1939 joint stock enterprises accounted for 44 percent of registered businesses and 80 percent of total capital. From 1922 to 1939 these enterprises outperformed other forms and generated 94 percent of aggregate profits. External finance factors, Japan's development phase, industrial structure, public policy, and culture led to high joint stock usage. The private limited liability company, introduced in 1938, did not displace the joint stock form.