capital only from a few concentrated sources. Firms in Japan at the close of the 19th century faced a similar "transitional … succeeded in Japan were not the ones that took the tack proposed by modern observers of transitional economies. They were the … equity did not reduce firm efficiency in late-19th century Japan. Although investors with relatively large stakes can indeed …

Liberal Democratic Party (LDP) has governed Japan for most of the post-war period, it temporarily lost power in the mid-1990s …