Comparison of growth process through finance activities between US and Japanese firms

Hiroshi Yasuda

International Journal of Business and Systems Research, 2009, vol. 3, issue 1, 19-33

Abstract: This article analyses firms' growth process paying attention to their finance activities, as means to activate investment for creating key management resources. This process is modelled as a circulation cycle for growth, in which finance activities are key drivers to initiate the positive feedback and resulted growth. Case analysis is performed to compare the competitiveness of US and Japanese firms in the semiconductor industry. It is discussed that their comparative competitiveness is explained by the difference in their focus on finance activities, which in turn is attributable to the difference in the characteristics of their surrounding capital markets as institutions.

Keywords: capital markets; finance activities; finance strategy; firm competitiveness; firm growth; institutions; management resources; semiconductor industry; USA; United States; Japan; investment; key management resources; capital markets; financial performance. (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (1)

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