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Cited by 364

The DOI matches its Crossref record; 80 of the 80 references it cites were found in a registry or an index.

A Clash of Capitalisms: Foreign Shareholders and Corporate Restructuring in 1990s Japan

Open access
Ahmadjian, Christina L., Robbins, Gregory E.·2005·American Sociological Review
DOI 10.1177/000312240507000305
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Abstract

This article examines the clash between stakeholder- and shareholder-based business systems resulting from an increase in foreign portfolio investment in the Japanese economy during the 1990s. An analysis of 1,108 firms between 1991 and 2000 shows that as foreign institutional investors, who were more interested in investment returns than in long-term relationships, replaced domestic shareholders, one fundamental pillar of Japan's stakeholder capitalism began to crack. Japanese firms began to adopt downsizing and asset divestiture, practices more characteristic of Anglo-American shareholder economies. The influence of foreigners, however, was weaker in firms more deeply embedded in the local system through close ties to domestic financial institutions and corporate groups. Thus, foreign investors were influential primarily in firms less embedded in the existing stakeholder system. This research contributes to debates on globalization and convergence of business systems, institutional change, and corporate governance systems.

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Metadata

Authors
Ahmadjian, C. L., & Robbins, G. E.
Venue
American Sociological Review
Publisher
SAGE Publications
Published
2005-06
Volume
70
Issue
3
Pages
451-471
ISSN
  • 0003-1224 (ISSN-L)
  • 1939-8271
DOI
10.1177/000312240507000305
OpenAlex
W2069889594
Cited by
364
References
80
FWCI
57.54
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: A Clash of Capitalisms: Foreign Shareholders and Corporate Restructuring in 1990s Japan. https://app.cochat.ai/papers/10.1177/000312240507000305
The paper
Ahmadjian, C. L., & Robbins, G. E. (2005). A Clash of Capitalisms: Foreign Shareholders and Corporate Restructuring in 1990s Japan. American Sociological Review. https://doi.org/10.1177/000312240507000305

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.