Risk sharing mechanism in Japan's auto industry: The keiretsu versus independent parts suppliers

被引：0

作者：

Tabeta N. ^{[1
]}

Rahman S. ^{[2
]}

机构：

[1] Faculty of Economics and Political Science, Kokusikan University, 4-28-1 Setagaya, Setagaya-ku

[2] Nanyang Technological University, Nanyang Business School

来源：

Asia Pacific Journal of Management | 1999年 / 16卷 / 3期

关键词：

Japan; Empirical Result; Business Environment; Risk Averse; Risk Sharing;

D O I：

10.1023/A:1015411630074

中图分类号：

学科分类号：

摘要：

This study investigates (1) whether risk sharing behavior of subcontractors has changed over the two decades (1973-94); (2) whether there are any differences between keiretsu firms and independent firms in sharing risk; (3) how ownership of its parts-suppliers through minority shareholdings by automakers or sending directors to parts-suppliers affects the suppliers' risk sharing behavior. Empirical results support the risk-sharing hypothesis in general. The keiretsu firms are more risk averse than independent firms in the first period (1973-85). In the second period (1985-94) independent firms become more risk averse than keiretsu firms. This may suggest that the keiretsu system would work as a shock absorber in an unfavorable business environment. © 1999 by John Wiley & Sons (Asia) Ltd.

引用

页码：311 / 330

页数：19

共 26 条

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