The sun that never rose: the inside story of Japan's failed attempt at global financial dominance
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Chicago, Ill. u.a.
Probus Publ.
1994
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XVI, 290 S. |
| ISBN: | 1557385629 |
Internformat
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| 245 | 1 | 0 | |a The sun that never rose |b the inside story of Japan's failed attempt at global financial dominance |c Eugene R. Dattel |
| 264 | 1 | |a Chicago, Ill. u.a. |b Probus Publ. |c 1994 | |
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Datensatz im Suchindex
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| adam_text | TABLE OF CONTENTS
Preface xi
Acknowledgments xiii
Introduction xv
Chapter 1
A Glorious Sunrise? The Advent of the Japanese
Financial Institutions 1
The Scope
The Setting
Japanese Project Sophisticated Image
Realities ofJFls Contradict Myth of Japan, Inc.
Chapter 2
The Creation of a Myth: The Image of Japanese
Financial Institutions in the 1980s 11
Nothing New: Japan s Economic System, and
Its Threat to America, 1935
Experts Spin the Myth 1980s Style
Academics Follow Suit
Japanese Journalists Respond Jingoistically
The Foreign Journalists Join in Myth Making
The Doubt Begins
Japan s Uniqueness Plays into Myth
Chapter 3
The Illusion of Strength 23
Regulation and the Role of the MOF
The MOF Behavior Harks Back to Feudal Times
Art of Intimidation
The MOF and the Shogun Bonds
Beneath Surface of Bull Market
Loyalty, Conformity Important to Japanese
Speculative Spiral and Cross Shareholding
JFIs Shrink from Confrontation
Manufacturing Sector Source for Cash
Japanese Journalism Seriously Compromised
Chapter 4
The Reality of the JFIs Overseas Operations 43
Profit Not Their Motive
Traditional Management Structure Proves Inadequate
Japanese Manufacturers versus JFIs
Japanese Manufacturers Condescend to JFIs
JFIs in Perspective
Chapter 5
Domestic Practices—At Home Abroad 51
Role of Personnel Department
Cultural Indoctrination Ensures Conformity
Diversity Not Well Tolerated
The Salaryman
Salaryman Trained as Generalist
On the Job Training
Rotation System Has Structural Flaws
Impact of Rotation System on U.S. Counterparts
Specialists with Specialties, But No Expertise
Equity Research Another JFI Specialization
Credit Research Not a Japanese Tool
Lack of Quantitative Analysis
What Is Innovation ?
Drama of the JFI Meeting
JFIs Want Packaged Transactions
Navigating through Japanese Etiquette
Following Financial Fashions
Nemawashi and Accountability
Risk/Reward Concepts and Relative Value
The Japanese Brokers versus Japanese Investors
Legacy of Dependency
Legacy for Business
Chapter 6
Tokyo Center 99
Tokyo Sets Its Priorities
Yen Syndicated Loans Garner Publicity
Playing Dividend Recapture Game
The Results of Market Share Mentality
JFls Take on U.S. Acquisitions, Joint Ventures
Token Purchases Demonstrate Overseas Presence
JFIs Buy Foreign Names as Specialists
JFIs Grow Interested in Quantitative Investment
U.S. Scouts Prospects for Mergers and Acquisitions,
Merchant Banking
Japanese Hop on M A Bandwagon
M A Enthusiasm Not Backed by Homework
Long Term Investments versus Short Term Transactions
Japanese Investors Link with U.S. Money Managers
A Few Observations
Chapter 7
Bureaucracy 135
Meet Mr. X, the Archetype Bureaucrat
Japanese System—Fantasy versus Reality
When Performance Means Political Acceptability
JFIs Organizational Structure Baffles
JFIs Lack of Concern for Profits
Salarymen Seek Out Political Safety
JFIs Fall into Real Estate Trap
Department Fragmentation Creates Problem
JFIs Fail to Recognize Risk
Accountability Is Conspicuously Absent
Mistakes Obscured by Harmonious Appearances
Harmony within Bureaucracy
Outside Influence Rejected
Management Responsibilities Often Ceremonial
Japanese Postal Savings System Gives Insights
Leadership Lacking within Bureaucracy
Chapter 8
The Pitfalls of Provincialism 165
Myth of Localization
American MBAs Become Status Symbols
Nomura Tries to Snag American Grads
Foreign Specialists Needed, if Not Wanted
Salarymen Resent Foreigners High Compensation
Salarymen and Foreign Colleagues Generate Friction
The Outsider: Betwixt and Between
International Networks Undermined by Provincialism
Japanese Intuition and Wet Instincts
Japanese Envision Historical Progression
Chapter 9
The American Investment Bank Experience
in Tokyo during the 1980s 187
Market Inefficiencies Are Strong Factor
The MOF Indifference to Abuses
Salomon Tokyo s Development
Product: Important Aspect of Focused Approach
Search for an Identity
Salomon Enters Japanese Equity Market
Morgan Stanley Tokyo, Circa 1987
Dynamic Process Key to Managing Growth
Chapter 10
The JFIs Overseas Dominance in Perspective 213
What Happened?
Getting Perspective on JFIs in 1980s
Success Is Where You Find It
Dissent Suppressed
Market Debacle of 1990 Exposes Weaknesses
All According to Plan?
Japanese Society in Conflict
Grand Designs, Grand Excuses
From Primitive to Dominant to Primitive
Putting JFIs in Industry Context
Comparisons with U.S. Bank Experience
The MOF and the SEC
Attitudes Toward Change Differ
Linear View of Progress
Absence of Role Model
Straws in the Wind, or Straw Houses?
Chapter 11
Competing in a Deregulated World—
the Challenge of the JFIs in the 1990s 249
What Did JFIs Learn from 1980s?
Is There a Way? A Will?
Misplaced Priorities Responsible for Failure
Who Sponsors Reform?
JFIs Need to Make Business Choices
Fitting Structure to Business and Vice Versa
JFIs Must Focus on Strengths
Asset Management Must Be Reformed
Makin Money
Finding Overseas Partners
Retreating from Retreat
How JFIs Deal with Structural Weaknesses
Some Japanese Traits Hinder Reform
JFIs Challenge in 1990s
Bibliography 271
Index 273
|
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| illustrated | Not Illustrated |
| indexdate | 2024-07-09T17:46:04Z |
| institution | BVB |
| isbn | 1557385629 |
| language | English |
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| physical | XVI, 290 S. |
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| spelling | Dattel, Eugene R. Verfasser aut The sun that never rose the inside story of Japan's failed attempt at global financial dominance Eugene R. Dattel Chicago, Ill. u.a. Probus Publ. 1994 XVI, 290 S. txt rdacontent n rdamedia nc rdacarrier Geschichte 1980-1994 gnd rswk-swf Financial institutions Investments Japan Financial institutions Japan Investments, Japanese Internationales Währungssystem (DE-588)4072901-1 gnd rswk-swf Japan Foreign economic relations Japan (DE-588)4028495-5 gnd rswk-swf Japan (DE-588)4028495-5 g Internationales Währungssystem (DE-588)4072901-1 s Geschichte 1980-1994 z DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006687395&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Dattel, Eugene R. The sun that never rose the inside story of Japan's failed attempt at global financial dominance Financial institutions Investments Japan Financial institutions Japan Investments, Japanese Internationales Währungssystem (DE-588)4072901-1 gnd |
| subject_GND | (DE-588)4072901-1 (DE-588)4028495-5 |
| title | The sun that never rose the inside story of Japan's failed attempt at global financial dominance |
| title_auth | The sun that never rose the inside story of Japan's failed attempt at global financial dominance |
| title_exact_search | The sun that never rose the inside story of Japan's failed attempt at global financial dominance |
| title_full | The sun that never rose the inside story of Japan's failed attempt at global financial dominance Eugene R. Dattel |
| title_fullStr | The sun that never rose the inside story of Japan's failed attempt at global financial dominance Eugene R. Dattel |
| title_full_unstemmed | The sun that never rose the inside story of Japan's failed attempt at global financial dominance Eugene R. Dattel |
| title_short | The sun that never rose |
| title_sort | the sun that never rose the inside story of japan s failed attempt at global financial dominance |
| title_sub | the inside story of Japan's failed attempt at global financial dominance |
| topic | Financial institutions Investments Japan Financial institutions Japan Investments, Japanese Internationales Währungssystem (DE-588)4072901-1 gnd |
| topic_facet | Financial institutions Investments Japan Financial institutions Japan Investments, Japanese Internationales Währungssystem Japan Foreign economic relations Japan |
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