New System of Industrial Concentration

Toshio Yamazaki
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Toshio Yamazaki: Ritsumeikan University

Chapter Chapter 5 in German Business Management, 2013, pp 71-99 from Springer

Abstract: Abstract This chapter discusses the development of a new system of industrial concentration post WWII. Industry–bank relationships are important issues related to the system of corporate governance and German capitalism’s cooperative characteristics. These relationships developed through various mechanisms such as banks’ credit and securities businesses, the shareholdings and deposited stock system, assignment of directors from banks to corporations, and the advisory board system. Post WWII, large corporate group systems evolved during the dissolution and reconcentration of monopolies. First, this chapter examines the characteristics of postwar industrial concentration in Japan and compares them with those in Germany. Next, it analyzes new developments in Germany’s industrial systems based on industry–bank relationships from the perspectives of mechanisms of cooperative inter-firm relationships and corporate governance. Furthermore, it considers the restructuring of a system for large corporate groups in relation to the dissolution of monopolies under the occupation policy and their reconcentration in the latter half of the 1950s. Drawing on this discussion, this chapter explains the manner in which large business operations were restructured through reconcentration or concentration, and the resultant divisions of labor in business domains developed in response to oligopolistic competition.

Keywords: Corporate governance; Industrial concentration; Industry–bank ­relationship; Inter-firm relationship; Large corporate groups; Universal banking system (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-4-431-54303-9_5

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DOI: 10.1007/978-4-431-54303-9_5

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