Ownership Changes and Economic Efficiency: Plant-Level Evidence from the Japanese Cotton Spinning Industry, 1900-1911

Tetsuji Okazaki
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Tetsuji Okazaki: Faculty of Economics, University of Tokyo

No CIRJE-F-731, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: This paper investigates how ownership changes affect the plant performance, focusing on the cotton spinning industry in early twentieth century Japan, where many plants experienced ownership changes. Through analyses of detailed plant-level data, it is revealed that, after ownership changes, plants tended to focus on low grade and low price products and, at the same time, total factor productivity, machine productivity and profitability of the plants significantly increased. These results indicate that the plants were managed and utilized more efficiently under the new ownership.

Pages: 17pages
Date: 2010-03
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Persistent link: https://EconPapers.repec.org/RePEc:tky:fseres:2010cf731

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