打字猴:1.70462383e+09
1704623830
1704623831 [30]关于大型官僚机构在为小企业提供融资方面的困难,参见A. Berger, N. Miller, M. Petersen, R. Rajan, and J. Stein, “Does Function Follow Organizational Form? Evidence from the Lending Practices of Large and Small Banks,” NBER working paper w8752, 2002。关于国有制对信贷资源配置的影响,参见Paola Sapienza, “What Do State-Owned Firms Maximize? Evidence from Italian Banks,” Northwestern University, working paper, 2002.
1704623832
1704623833 [31]E. Helleiner, States and the Reemergence of Global Finance: From Breton Woods to the 1990’s (Ithaca, N.Y.: Cambridge University Press, 1994), and Robert Skidelsky’s Keynes: Robert Skedelsky, John Maynard Keynes: Fighting for Freedom 1937-1946 (New York: Viking, 2001).
1704623834
1704623835 [32]参见Keynes (1980), 149,转引自Helleiner, States and the Reemergence of Global Finance, 34。对于投资真正有影响的利率是指长期利率,今天人们已经不再一致认为政府可以轻易操纵长期利率。
1704623836
1704623837 [33]Helleiner, States and the Reemergence of Global Finance, 35.
1704623838
1704623839 [34]同上,第39页。
1704623840
1704623841 [35]Pauly.
1704623842
1704623843 [36]Peter G. Peterson, Gray Dawn: How the Coming of Age Will Transform America and the World (New York: Times Books, 1999), 77.
1704623844
1704623845 第11章
1704623846
1704623847 [1]这些数据及本节其他未特别注明的数据均来自Stephen Prowse, “Alternative Models of Financial System Development,” Federal Reserve Bank of Australia, 1996.
1704623848
1704623849 [2]Rafael La Porta, Florencio Lopz-de-Silanes, Andrei Shleifer, and Robert W. Vishny, “Legal Determination of External Finance,” Journal of Finance 52, no. 3 (1997): 1131-1150.
1704623850
1704623851 [3]Julian Franks and Colin Mayer, “Bank Control, Takeovers and Corporate Governance in Germany,” Journal of Banking & Finance 22 (1998): 1231-1480.
1704623852
1704623853 [4]Christoph von Greyerz,“Accounting in Swiss Company Laws”, Der Schweizer Treuhander (March 1984): 85-88.
1704623854
1704623855 [5]Prowse, “Alternative Models of Financial System Development,” 122,citing 1989 OECD study.
1704623856
1704623857 [6]Utpal Bhattacharya, Hazem Daouk, Michael Welker, “The World Price of Earnings Opacity.”
1704623858
1704623859 [7]Graham Searjent, “Why Daimler Went Red Over a Share Quote in New York,” Times (London), October 7, 1993.
1704623860
1704623861 [8]Martin Hellwig, “Economics and Politics of Corporate Finance and Control,” in Corporate Governance: Theoretical and Empirical Perspectives, ed. Xavier Vives (Cambridge: Cambridge University Press, 2000), 109.
1704623862
1704623863 [9]Steven N. Kaplan, “Top Executive Rewards and Firm Performance: A Comparison of Japan and the United States,” Journal of Political Economy 102, no. 3 (June 1994): 510-546.
1704623864
1704623865 [10]C. Kester and T. Lueherman, “The Myth of Japan’s Low Cost of Capital,” Harvard Business Review 70, no. 3 (May 1, 1992): 130-140.
1704623866
1704623867 [11]这个类比来自Raaj Sah and Joseph Stiglitz的研究,“The Architecture of Economic Systems: Hierarchies and Polyarchies,” American Economic Review 76, no. 4 (September 1986)。参见Franklin Allen, “Stock Markets and Resource Allocation,” in Capital Markets and Financial Intermediation, ed. Colin Mayer and Xavier Vives (Cambridge,U.K.: Cambridge University Press, 1993)。
1704623868
1704623869 [12]B. Black and R. Gilson, “Venture Capital and the Structure of Capital Markets: Banks versus Stock Markets,” Journal of Financial Economics, 47 (1998). Jrg Kukies, “Stock Markets for High-Technology Firms and Venture Capital Financing: Evidence from Europe” (University of Chicago, Ph.D. diss., 2001).
1704623870
1704623871 [13]Kukies, “Stock Markets for High-Technology Firms and Venture Capital Financing.”
1704623872
1704623873 [14]Paul Carroll, Big Blues: The Unmaking of IBM (New York: Crown, 1993), P. 76.
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1704623875 [15]Kristian Rydqvist and Kenneth Hogholm, “Going Public in the 1980s: Evidence from Sweden,” European Financial Management 1, no.3 (1995): 287-315.
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1704623877 [16]Sandra Black and Philip Strahan, “Entrepreneurship and bank Credit Availability” (MIT, March 2001, mimeo).
1704623878
1704623879 [17]本案例的描述主要来自Richard Pascale and Thomas P. Rholen, “The Mazda Turnaround,” Journal of Japanese Studies 9, no. 2 (1983): 219-263,以及Hoshi and Kashyap (1994)。除非特别提示,所有的数据均来自他们的研究。
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