This paper examines how professional managers diffused among cotton spinning companies in prewar Japan, and analyzes the determinants as well as implications of the employment of professional managers. While simple scale variables such as paid-in capital and production did not correlate with employment of professional managers, those variables reflecting complexity of management, such as number of factories and dummy variable of integrated production, have positive correlation with it. At the same time, supply of managerial capability by owners negatively correlates with employment of professional managers. Employment of professional managers did not have a significant effect on corporate profitability. This result suggests that a positive effect of introducing management skills and a negative effect of agency costs canceled each other.
内容記述
ビジネス・レビュー, 52(2), 2004.
本文フィルはリンク先を参照のこと
雑誌名
Discussion paper series. CIRJE-J
巻
2004-CJ-116
発行年
2004-07
書誌レコードID
AA11451834
フォーマット
application/pdf
日本十進分類法
330
出版者
日本経済国際共同センター
出版者別名
Center for International Research on the Japanese Economy
戦前日本における専門経営者雇用の決定要因と効果 : 綿紡績会社を中心として
