Technological Leadership and Late Development: Evidence from Meiji Japan, 1868-1912
18 Pages Posted: 5 Jan 2011
There are 2 versions of this paper
Technological Leadership and Late Development: Evidence from Meiji Japan, 1868-1912
Date Written: January 4, 2011
Abstract
Large family-owned conglomerates known as zaibatsu have long been credited with leading Japanese industrialization during the Meiji period (1868-1912), despite a lack of empirical analysis. Using a new dataset collected from corporate genealogies to estimate entry probabilities, it is found that characteristics associated with zaibatsu increase a firm's likelihood of being an industry pioneer. In particular, first entry probabilities increase with industry diversification and private ownership, which may provide internal financing and risk-sharing, respectively. Nevertheless, the costs of excessive diversification may deter additional pioneering, which may account for the loss of zaibatsu technological leadership by the turn of the century.
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Technological Leadership and Late Development: Evidence from Meiji Japan, 1868-1912
This is a Wiley-Blackwell Publishing paper. Wiley-Blackwell Publishing charges $42.00 .
File name: j-0289.pdf
Size: 188K
If you wish to purchase the right to make copies of this paper for distribution to others, please select the quantity.
