... certification effects. Katsushi Suzuki can be contacted at: kasuzuki@ms.kuki.tus.ac.jp © Emerald Group Publishing Limited 2008 In Japan, commercial banks can appoint a director to a company and hold its stocks in their possession. Therefore, Japanese commercial banks can perform the monitoring...

... into the Japanese VC industry. The primary analysis is focused on the distinction between VC‐backed and non‐VC‐backed IPOs. The main findings can be summarized as follows. In Japan, venture capitalists do not invest only in high‐tech industries, but also in non‐high‐tech industries. This apparently is different...

... 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. The M&A wave was particularly substantial...