{"id":"https://openalex.org/W2493846264","doi":"https://doi.org/10.1016/s1569-3732(04)11001-3","title":"FOREIGN OWNERSHIP AND FIRM VALUE: EVIDENCE FROM JAPAN","display_name":"FOREIGN OWNERSHIP AND FIRM VALUE: EVIDENCE FROM JAPAN","publication_year":2005,"publication_date":"2005-08-12","ids":{"openalex":"https://openalex.org/W2493846264","doi":"https://doi.org/10.1016/s1569-3732(04)11001-3","mag":"2493846264"},"language":"en","primary_location":{"id":"doi:10.1016/s1569-3732(04)11001-3","doi":"https://doi.org/10.1016/s1569-3732(04)11001-3","is_oa":false,"landing_page_url":"https://doi.org/10.1016/s1569-3732(04)11001-3","pdf_url":null,"source":{"id":"https://openalex.org/S4210193041","display_name":"Advances in financial economics","issn_l":"1569-3732","issn":["1569-3732","1875-5399"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"book series"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Advances in Financial Economics","raw_type":"book-chapter"},"volume":{"id":"https://openalex.org/W4239455875","display_name":"Corporate Governance"},"type":"book-chapter","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5103061114","display_name":"Stephen P. Ferris","orcid":"https://orcid.org/0009-0004-6106-1859","observed_orcids":["https://orcid.org/0009-0004-6106-1859","https://orcid.org/0000-0003-0626-8254","https://orcid.org/0000-0001-6853-4533"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Stephen P. Ferris","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5103155058","display_name":"Kwangwoo Park","orcid":"https://orcid.org/0000-0002-8318-1585","observed_orcids":["https://orcid.org/0000-0002-8318-1585"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Kwangwoo Park","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":2.4894,"has_fulltext":false,"cited_by_count":37,"citation_normalized_percentile":{"value":0.91976784,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":null,"issue":null,"first_page":"1","last_page":"29"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9976000189781189,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9976000189781189,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.0012000000569969416,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10415","display_name":"International Business and FDI","score":0.000699999975040555,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/foreign-ownership","display_name":"foreign ownership","score":0.9950000047683716},{"id":"https://openalex.org/keywords/firm-value","display_name":"firm value","score":0.9800000190734863},{"id":"https://openalex.org/keywords/foreign-institutional-investors","display_name":"foreign institutional investors","score":0.9300000071525574},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"corporate governance","score":0.6449999809265137},{"id":"https://openalex.org/keywords/keiretsu","display_name":"keiretsu","score":0.8140000104904175},{"id":"https://openalex.org/keywords/monitoring","display_name":"monitoring","score":0.3370000123977661},{"id":"https://openalex.org/keywords/r-d-investment","display_name":"R&D investment","score":0.671999990940094},{"id":"https://openalex.org/keywords/japanese-firms","display_name":"Japanese companies","score":0.7110000252723694},{"id":"https://openalex.org/keywords/stock-ownership","display_name":"stock ownership","score":0.3919999897480011}],"concepts":[{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5861034393310547},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.5700127482414246},{"id":"https://openalex.org/C2776746854","wikidata":"https://www.wikidata.org/wiki/Q11430545","display_name":"Foreign ownership","level":3,"score":0.5416136384010315},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.24228176474571228},{"id":"https://openalex.org/C33842695","wikidata":"https://www.wikidata.org/wiki/Q490513","display_name":"Foreign direct investment","level":2,"score":0.15621045231819153},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.07768774032592773},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.06282496452331543},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.06169247627258301}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1016/s1569-3732(04)11001-3","doi":"https://doi.org/10.1016/s1569-3732(04)11001-3","is_oa":false,"landing_page_url":"https://doi.org/10.1016/s1569-3732(04)11001-3","pdf_url":null,"source":{"id":"https://openalex.org/S4210193041","display_name":"Advances in financial economics","issn_l":"1569-3732","issn":["1569-3732","1875-5399"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"book series"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Advances in Financial Economics","raw_type":"book-chapter"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.5,"id":"https://metadata.un.org/sdg/17","display_name":"Partnerships for the goals"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":23,"referenced_works":["https://openalex.org/W1537630484","https://openalex.org/W1547540007","https://openalex.org/W1605029251","https://openalex.org/W1606272114","https://openalex.org/W1861498838","https://openalex.org/W1977528366","https://openalex.org/W1979927021","https://openalex.org/W1981160460","https://openalex.org/W1998155363","https://openalex.org/W2009776789","https://openalex.org/W2011487370","https://openalex.org/W2048158235","https://openalex.org/W2055324653","https://openalex.org/W2068417597","https://openalex.org/W2077837364","https://openalex.org/W2108095820","https://openalex.org/W2133897956","https://openalex.org/W2165521490","https://openalex.org/W2752617332","https://openalex.org/W3121824878","https://openalex.org/W3122142145","https://openalex.org/W3122880855","https://openalex.org/W3123010456"],"related_works":["https://openalex.org/W7100726840","https://openalex.org/W2585965038","https://openalex.org/W2117164068","https://openalex.org/W2423783555","https://openalex.org/W2091575737","https://openalex.org/W3153516390","https://openalex.org/W2043584886","https://openalex.org/W1974348913","https://openalex.org/W7099996154","https://openalex.org/W3189138495"],"abstract_inverted_index":{"We":[0,104],"find":[1],"a":[2,116],"significant":[3],"curvilinear":[4],"relation":[5],"between":[6],"Japanese":[7,134],"firm":[8,83],"value":[9,20,84],"and":[10,28,45,69,85,131],"the":[11,80,86,128],"percentage":[12],"of":[13,79,94,133],"equity":[14,64,95],"held":[15],"by":[16,66,72,101],"foreign":[17,23,38,73,102,111,123],"investors.":[18,74,103],"Firm":[19],"rises":[21],"until":[22],"ownership":[24,65,96,112],"reaches":[25],"approximately":[26],"40%,":[27],"then":[29],"it":[30],"begins":[31],"to":[32,91,127],"decline.":[33],"It":[34,75],"appears":[35],"that":[36,77,107,122],"large":[37],"institutional":[39,124],"investors":[40,125],"invest":[41],"in":[42,82,97,110,118],"well-performing":[43],"firms":[44,100],"serve":[46],"as":[47,63],"effective":[48],"monitors.":[49],"Our":[50],"results":[51],"remain":[52],"robust":[53],"even":[54],"after":[55],"controlling":[56],"for":[57],"other":[58],"corporate":[59],"governance":[60],"variables,":[61],"such":[62],"main":[67],"banks":[68],"board":[70],"membership":[71],"seems":[76],"most":[78],"increase":[81,109],"performance":[87],"improvement":[88],"are":[89],"due":[90],"rising":[92],"levels":[93],"non-keiretsu":[98],"(independent)":[99],"also":[105],"show":[106],"an":[108],"is":[113],"correlated":[114],"with":[115],"rise":[117],"R&D":[119],"expenditures,":[120],"suggesting":[121],"contribute":[126],"long-term":[129],"viability":[130],"competitiveness":[132],"firms.":[135]},"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":7},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":7},{"year":2020,"cited_by_count":4},{"year":2018,"cited_by_count":1},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":4},{"year":2013,"cited_by_count":2}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-08-23T00:00:00"}
