Competing Capitalisms : Capital Investment in American, German and Japanese Firms  

Oleh:

L. G. Thomas III ; Waring, Geoffrey

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 20 no. 8 (1999), page 729-748.
Topik: capitalism; home country; investment; governance; international competitiveness

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.4 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study explains one way the home country insttutional environment causes strategy differences across firms from different countries. It contrasts the investment conduct of american, german and japanese firms in the 10 largest manufacturing industries. We find profound national differences among these firms that are stable across industries. These differing conducts are tied to the institutional environments of the home market. The shareholder firms of the united states make investments primarily in response to expected investment returns, measured by tobin's Q ratio. The coalitional firms of germany and japan make investments primarily in response to the availability of internal finance, measured by operating cash flow.

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