@article{oai:glim-re.repo.nii.ac.jp:00000469, author = {淺羽, 茂 and Asaba, Shigeru}, issue = {2}, journal = {學習院大學經濟論集, The journal of Faculty of Economics, Gakushuin University}, month = {Jul}, note = {application/pdf, This paper examines foreign firms’ partial acquisition of established Japanese firms. Using a small sample  but systematic analysis, we fbund that established Japanese firms, which are partially acquired by f()reign  firms, improved in profitability after the investment, while their growth rate did not change. Moreover, we fbund that fbreign firms’shares of ownership and fbreigners’representation on the boards of acquired Japanese firms have a positive association, and the size of acquired firms has a negative association  with improvement in profitability. These results suggest that subsequent to investment, fbreign shareholders  with strong commitment can improve the profitability of Japanese firms.}, pages = {101--112}, title = {Do Foreign Shareholders Change Japanese Firms?}, volume = {40}, year = {2003}, yomi = {アサバ, シゲル} }