Morck, Randall; Mehrotra, Vikas; Shim, Jungwook; … - National Bureau of Economic Research (NBER) - 2011
The practice of adopting adults, even if one has biological children, makes Japanese family firms unusually competitive. Our nearly population-wide panel of postwar listed nonfinancial firms shows inherited family firms more important in postwar Japan than generally realized, and also performing...