わが国の株式時価発行移行過程におけるコーポレイト・ガバナンス 1970-1990(10周年記念号)

概要

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In the midst of the prosperity of the Tokyo Stock Market, Japanese corporations began in 1969 to change their financing sources from commercial bank borrowing to direct currentvalue stock financing . In these days, corporations made the best of the stock value increases and raised a great deal of money from stock market, and excessive exports caused "overliquidity-inflation" in Japanese economy. These monies raised were mainly invested in Japanese land, estate and stock in the hope of getting capital gain. It created heavy asset inflations in land, estates and other commodities between 1972 and 1974. At last Japanese Government made these issuing corporations and stock companies refrain from raising so much capital to keep the inflation under control. We can call it a type of corporate governance for the sake of the public interest. This paper discusses whether that administrative corporation governance attained its objective or not.
四国大学の論文
2004-12-25