Determinants and Effects of Employing Professional Corporate Executives: A Case of Cotton Spinning Companies in Pre-war Japan

Tetsuji Okazaki

No CIRJE-F-382, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: This paper examines how professional corporate executives diffused among cotton spinning companies in prewar Japan, and analyzes the determinants as well as implications of the employment of professional executives. While simple scale variables such as paid-in capital and production did not correlate with employment of professional executives, those variables reflecting complexity of management, such as number of factories and dummy variable indicating integrated production, have positive correlation with it. At the same time, availability of managerial capability among owners negatively correlates with employment of professional executives. Also, we found that employment of professional executives had a positive effect on corporate profitability, after controlling for the endogeneity.

Pages: 23 pages
Date: 2005-10
New Economics Papers: this item is included in nep-his and nep-sea
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.cirje.e.u-tokyo.ac.jp/research/dp/2005/2005cf382.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:tky:fseres:2005cf382

Access Statistics for this paper

More papers in CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo Contact information at EDIRC.
Bibliographic data for series maintained by CIRJE administrative office ().