Shinya Kawamoto

Management Buy-outs in Japan (eBook, ePUB)

Causes and Consequences

• Format: ePub

Produktbeschreibung

This book comprehensively examines the motivations and efects of management buy-outs (MBOs) in Japan.

Beginning with a discussion of implementation status and functions of MBOs in Japan compared to other countries like Europe and the US, Kawamoto identifes the unique characteristics of Japanese MBOs. He then explores how the transformation of corporate governance structures of Japanese companies and other recent changes have led to the increased demand. Empirical data is used to identify what motivates companies to seek buy-outs, which factors influence buy-out funds' choice of investment destination, and the performance improvement efects of privatization. Topics such as governance structure and minority shareholder interests are also covered.

Providing a rare view into the Japanese market, this book will be attractive to researchers of corporate fnance, mergers and acquisitions, and corporate governance.

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Produktdetails

• Verlag: Taylor & Francis eBooks
• Seitenzahl: 244
• Erscheinungstermin: 1. Dezember 2025
• Englisch
• ISBN-13: 9781040655498
• Artikelnr.: 76007266

Autorenporträt

Shinya Kawamoto is Professor in the College of Economics, Rikkyo University, Japan. His Japanese books have received recognition from the Japan Association for Applied Economics and the Society for Economic Studies of Securities.

Inhaltsangabe

Introduction MBOs in Japan: An Overview and Analytical Perspective 1.
Motivations for Going-private: Comparative Analysis of MBOs and Wholly
Owned Subsidiaries 2. Heterogeneity of Going Private MBOs: Motivation,
Takeover Premium, and Exit 3. With Which Companies Do Buy-out Funds Engage
in MBO? 4. MBO and Performance Improvement 5. MBOs and Accounting
Manipulation: Takeover Structures and Discretionary Accruals 6. Fairness
Measures and Minority Interests 7. MBOs as a Tool for Corporate
Restructuring 8. Sale of Subsidiaries by MBO and Stock Market Valuation 9.
End of Chapter MBOs and Japanese Companies