... at: berna.kirkulak@due.edu.tr © Emerald Group Publishing Limited 2008 Venture capital Return on capital employed Performance appraisal Japan Venture capitalists reduce asymmetrical information and provide access to high quality underwriters in the offering process. They overcome informational...

..., the empirical study by Jain and Kini (1994) revealed that there exists a positive correlation between operating performance in the post‐IPO period and managerial ownership. This can be interpreted as a result in favor of the monitoring hypothesis. In Japan, empirical results are not necessarily obtained...

... wave in Japan in the late 1990s may not have been motivated by a desire for greater efficiencies through utilization of under‐utilized branch networks. Unlike other studies, this analysis differentiates between economies of scale and economies of density. Nayantara D. Hensel can be contacted...