著者

古瀬 公博

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.39, no.1, pp.50-69, 2004-06-24 (Released:2009-11-06)

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This paper analyzes the professionalization of the business appraisal service in the United States. As the number of mergers and acquisitions increased in the United States, the need for business valuation increased. The business appraisal service is used to, for example, mitigate conflict in selling price between the acquirer and the acquiree.The business appraisal service gradually grew after the 1950s and developed extensively in the 1980s. The growth of private company acquisitions and divestitures in the 1980s promoted its development. The main actors who provided business appraisal services were asset appraisers and accountants. They established the status as a profession after the Great Depression. Asset appraisers mainly appraised tangible property, especially machines, for insurance or tax purposes. Accountants reported and analyzed corporate financial data. Supplying business appraisal services and appraising expected corporate value, they changed their main technique from “retrospective” or “fact-finding” types to “prospective” or “forecasting.” As the business appraisal industry grew, many problems occurred due to the lack of appraisal skills or fraud. Four professional associations set up new licenses for business appraisers in order to provide appropriate appraisal services. In 1978, Institute of Business Appraisers (IBA) issued a license, the first in the United States, for appraisers specializing in private companies. Recently, confronted with member-seeking competition from other professional associations, such as IBA and other organizations, American Institute of Certified Public Accountants also issued a license for business appraisers in 1997. These associations examine their members' appraisal abilities, impose a code of ethics on their members, and provide training programs for their members with the intention of improving the quality of the business appraisal service.

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.39, no.1, pp.70-80, 2004-06-24 (Released:2009-11-06)

著者

中村 尚史

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.38, no.2, pp.27-58, 2003-09-25 (Released:2009-11-06)

被引用文献数

1

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The purpose of this paper is to shed new light on the relationship between local wealth holders and Japan's industrialization, with particular focus on the enterprising booms in provincial areas during the Meiji Era. It examines the case of the Hiroumi family, the largest manure merchant in the town of Kaizuka in Sennan, Osaka. The following are the significant findings made : (1) The investment behavior of the Hiroumi family changed around the time of the Sino-Japanese War (1894-95). Before the war, Hiroumi depended mainly on income from its manure business. However, the family began to invest in stocks, especially those of local enterprises, after the war, and stock investment eventually became the family's most important source of income in 1897. Since then, the Hiroumi continued to invest in local enterprises and contributed to the industrialization of Sennan area.(2) The Hiroumis' investment behavior had two characteristics : First, in selecting the firms to invest in, the family carefully researched their potentials as well as the reputations of their founders. Second, the family continued to monitor the firms it had invested in and decided to reinvest in them only after screening their performances. Furthermore, the family became actively involved in the corporate restructuring of firms if necessary. In this fashion, by channeling the region's limited financial resources only to firms with potential, the Hiroumi family contributed to the continuing growth of local enterprises in the area.(3) In the industrialization of the region, the Hiroumis played a role similar to that of an investment banker, and many other local wealth holders like the Hiroumis similarly supported the continuing rise of local enterprises in Sennan area. The existence of those local wealth holders was one of the factors that sustained the “provincial vitality” of the Sennan area throughout the prewar period.

著者

中川 誠士

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.38, no.2, pp.84-95, 2003-09-25 (Released:2009-11-06)

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.38, no.2, pp.96-110, 2003-09-25 (Released:2009-11-06)

著者

中本 和秀

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.38, no.3, pp.1-21, 2003-12-25 (Released:2009-11-06)

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The purpose of this paper is to analyze the development of the mass production system at Morris Engines Co. and the former Coventry works of Hotchkiss et Cie.Hotchkiss et Cie began to produce 50 engine units per week at their Coventry works in 1918. Machine shops were originally general engineering shops, where similar types of machine tools were grouped together. In 1922, Hotchkiss converted these into a hybrid of “machine-tool-based shop” and “components-based shop” for the production of 100 units per week.Morris Engines took over the works from Hotchkiss in 1923, and in 1924 an output of 1, 200 engines per week was achieved. The engineer Woollard implemented a method of continuous flow production at this factory. It was in the context of a flow principle that experiments were made in the development of transfer machines to produce a cylinder block and other components. Power-driven conveyor systems were, however, not used in the assembly lines. Then the factory needed stimulus by piecework to speed up the production pace or to increase the output. Woollard did not call this system “mass production” but called it “continuous production.” These processes were not aimed at attacking enormous quantities but were endeavor to secure continuous flow and were suitable for the scale of the British market.The whole process of these developments were also the outcome of an inherent need to secure continuous flow rather than an adaptation of Fordism as Tolliday asserted.

著者

二谷 智子

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.38, no.3, pp.22-47, 2003-12-25 (Released:2009-11-06)

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The purpose of this paper is first to analyze the change in the system that regulated the production and sale of medicine in the latter half of the 19th century and second to make clear how the management of the home distribution system of patent medicines in Toyama changed as its result. This paper examines the case of the Okamoto family, the influential merchant family that owned large tracts of commercial land, and the peddling of patent medicines in Takaoka in the early Meiji era.As a result of the examination, the following point became clear. The merchant in Takaoka financed owners of commercial land to peddle patent medicines. These peddlers lived in villages around Takaoka, and the management of their peddling business changed with the financing from the merchant.By the 1860s, the peddlers in Takaoka were classified into five ranks by income, because several feudal loads had for years forbidden the peddlers from entering their domains. And as a result, this started the division in the management of the business into the sponsor, the chemist's shop, and the peddler in Takaoka. The home distribution system of patent medicines in Takaoka was thus able to adapt to the medical policy of the Meiji government, which regulated both the production and the distribution of patent medicines.

著者

板垣 暁

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.38, no.3, pp.48-72, 2003-12-25 (Released:2009-11-06)

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In 1949, the GHQ Occupation authorities allowed Japanese automobile companies to begin producing cars. But the level of price and performance of domestic cars was inferior to that of industrially advanced nations. Consequently, common opinion in the auto-related business circles was that the Japanese automotive industry was inferior.The regulation of car imports was relaxed in 1952, and many foreign-made cars were imported. Car imports became the source of conflict for the Ministry of Transport, Ministry of International Trade and Industry, and automobile companies. The Ministry of Transport did not oppose automobile manufacture in Japan but objected to the protective policy that regulated car imports.The primary reason for importing cars was to promote smooth and efficient transportation. Taxi companies were the main users of cars at the time, and they opposed the protective policy as the price and performance of cars influenced their profit and reputation. They appealed to the National Diet in support of car imports, and their views were publicized through magazines and other means.Opposition to the protective policy was resolved in 1954. The foreign currency shortage in 1953 and 1954 prompted public opinion to favor restriction of car imports. In addition, the price of domestic cars dropped and performance improved. Under these circumstances, the Ministry of Transport changed its policy by proposing the import of normal-size cars not widely manufactured in Japan, and thus the debate over car imports was concluded.

著者

小川 功

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.37, no.4, pp.102-111, 2003-03-25 (Released:2010-11-18)

著者

川満 直樹

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.38, no.1, pp.1-23, 2003-06-25 (Released:2009-11-06)

被引用文献数

1 1

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The principal objective of this paper is to examine how the Pakistani business groups that played major, important roles in Pakistan's industrial development were initially formed and grew subsequently. In addition, the paper also aims to analyze closely the economic as well as entrepreneurial roles they have played successfully since Pakistan's independence.The study chooses the Habib and Dawood zaibatsu (business group) as case studies. There are three reasons in focusing attention on the Habib and Dawood zaibatsu. First, the Habibs belongs to the Khoja community and are Muslims from Gujarat, and the Dawoods belongs to the Memon community from Kathiawar in Gujarat. Gujarat has produced a many great entrepreneurs. After Partition, both Khoja and Memon communities migrated to Pakistan and settled in Karachi. Second, they played a pioneering role of industrial development of Pakistan in the period immediately following the country's independence. Third, they are both well-known business groups in Pakistan. They are regarded as “nation-building” companies. They came to control the financial business since the beginning of the independence movement.The study examines how Pakistani zaibatsu was formed, and what specific contributions they have made toward industrial growth and developments in Muslim society. It shows what problems and difficulties the business groups will have to deal with in the years to come.

著者

岡部 桂史

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.38, no.1, pp.24-49, 2003-06-25 (Released:2009-11-06)

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The purpose of this paper is to clarify the development process of the Japanese agricultural machine industry during the interwar period. The historical significance of the agricultural machine industry has been mainly studied in the fields of agricultural and industrial technology. This paper is the first attempt to evaluate it form the viewpoint of the industrial and business history.Unlike the American agricultural machine, which had developed from reapers or the tractors, the growth of the Japanese agricultural machines before World War II was led by the development of threshers and hulling machines. We can confirm the progress of agricultural mechanization by small machines. One characteristic of Japanese agriculture is the large number of petty farmers whose diversified small tenable lots made agricultural mechanization by large-sized machines impossible. Big firms like International Harvester in the United States manufactured both engines and machines, but in Japan, each factory specialized in the production of engines or machines (threshers and hulling machines). In this paper, therefore, the petrol engines and agricultural machines are examined separately.The increase in the production of petrol engines was led by both big factories such as Kubota Ironwork, and small- and medium-sized factories (e.g., the network of small factories in Okayama city). In the case of agricultural machines, they established their own production embedded in agricultural implements in the 1920s. Lastly, the distribution system, evolved from dependence on indigenous implements and hardware distribution in the 1920s to a new system supported by dealers specializing in engines and agricultural machines in the 1930s.

著者

韓 載香

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.38, no.1, pp.50-77, 2003-06-25 (Released:2009-11-06)

被引用文献数

1

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Enterprises owned by Koreans have been the largest minority businesses in Japan. Although Lotte and Softbank are now the two most notable companies among them, most Korean-owned firms have historically been small and invisible. This paper aims to illustrate the structural characteristics of Korean-owned enterprises in Japanese economy since World War II. After the de-colonization at the war's end, Koreans, many of whom had emigrated to the Kinki region before the war, started small businesses of their own, partially because they were excluded from the regular labor market because of widespread discrimination. Given their shortage of capital, they utilized the only resources they possessed, i.e., the knowledge accumulated in their prewar experiences as blue-collar workers.For the most part of postwar decades, thus, Korean businesses confined themselves to labor-intensive segments of such limited industries as rubber and plastic footwear, secondary metal processing, textile processing, hosiery making, and civil engineering. They also exhibited an interesting pattern of regional concentration for many of their major industries. Footwear businesses are mostly located in the western part of Kobe city, while the southern part of Osaka prefecture became the center of hosiery making.The development of Korean industries took two forms in the long run. First, particularly since the 1970s, Korean businesses started expanding in such new spheres such as money lending, real estate, and even professional services. Second, throughout the postwar decades, Koreans increased their presence in the pinball (pachinko) entertainment industry, which became a symbol of Korean businesses in Japan. Koreans now control the entire vertical chain of the pachinko industry from machine making to pinball halls.In the economic environment that has not necessarily been friendly, Korean businesses adapted relatively well to open up their own niches, particularly in non-manufacturing sectors. But their position did not follow the developmental direction that Japanese economy took. While the economy exited from labor-intensive industries, Korean enterprises have remained in that economic segment, which is not necessarily conducive to new business dynamics.

著者

古賀 大介

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.37, no.2, pp.56-75, 2002-09-25 (Released:2009-11-06)

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A long-running and thus-far unsolved issue in British economic history, known as the Macmillan Gap, is the role played by the British capital market in the provision of finance to small- and medium-sized enterprises. There have been numerous allegations of failure in the literature, where it is alleged that the capital market was reluctant to finance such enterprises.But recently a new view has appeared. A considerable proportion of small firms are said to have relied on private sources of finance through a circle of personally acquaintanted investors, and this form of financing worked satisfactorily in the pre-1914 era. However, there is little evidence of private financing, and therefore this picture is conjecture at present.The aim of this paper is to provide evidence to support this new view. We focus on a case of raising finance by White & Pike, a small printing firm in the late nineteenth century, through empirical research, drawing on contemporary records held in Lloyds Bank Archive and the Public Record Office.

著者

橘川 武郎

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.37, no.3, pp.1-27, 2002-12-25 (Released:2009-11-06)

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On May 1, 2001, nine electric power companies, Hokkaido, Tohoku, Tokyo, Chubu, Hokuriku, Kansai, Chugoku, Shikoku, and Kyushu Electric Power, which were established simultaneously by the reorganization of the electric power industry in 1951, celebrated their fiftieth anniversaries. The purposes of this paper are to evaluate the fifty-year history of the Nine Electric Power Companies System (NEPCS) and to detect its future.NEPCS is characterized by four factors: (1) private management, (2) vertical integration, (3) regional division (nine blocks), and (4) monopoly. It is possible to regard that factors (1), (2), and (3) hold in check the potential disadvantage of factor (4), i.e., high power rates owing to lack of competition, as autonomy of NEPCS.The fifty-year history of NEPCS is divided into three periods by two epoch-making incidents, the first Oil Crisis of 1973-74 and the overall revision of the Electric Power Industry Law (EPIL) of 1995. During the first period (1951-73), the autonomy of NEPCS worked well and an electricity supply at low rates was realized. In the second period (1974-94), however, the autonomy of NEPCS suffered as the disadvantages of monopoly became apparent. And, it is the most important task of the third period (1995-) for the nine electric power companies to reestablish NEPCS's autonomy.The revision of EPIL in 1995 was the starting point of liberalization of the electric power industry in Japan. If the behavior of the electric power companies is too conservative, NEPCS could experience sudden death as a result of unbundling by the liberalization. But, if the companies cope well with the liberalization, two key factors of NEPCS, private management and vertical integration, can survive in the future.

著者

西村 成弘

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.37, no.3, pp.28-56, 2002-12-25 (Released:2009-11-06)

被引用文献数

1

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This paper examines the patent management of General Electric Company (GE) in Japan before World War II. It is said that its domination of the incandescent lamp industry, which occurred from 1912 to 1919, was brought about on Tokyo Electric's own initiative. But GE had controlled substantial patents for tungsten filament, which included patents applied for and registered by German companies. From 1916, GE filed a series of suits against newly established Japanese lamp companies, Taisho Denkyu, Dainihon Denkyu, and Kansai Denkyu, which were based on the foreigner-owned lamp patents not controlled by GE. By 1919, GE won the suits and absorbed those companies. Therefore, the Japanese lamp industry was dominated by GE, not by Tokyo Electric.In 1919, GE established International General Electric Co., Inc. (IGEC), and IGEC revised its agreement with Tokyo Electric. The new agreement contained a “proxy application” clause, which provided that Tokyo Electric could apply and register GE'S patents in its own name and on own cost. That is, in the interwar period, GE managed its Japanese patents through Tokyo Electric's managerial function. As similar contracts had already been concluded with British Thomson-Houston and Allgemeine Elektricitäts Gesellschaft, GE had completed an international “proxy application” network.In order to carry out the contracts and patent management through Tokyo Electric, GE had to intensify the patent management function of Tokyo Electric. In 1921, J.R. Geary, charged with GE business in Japan, directed Tokyo Electric to establish a patent management department. The Patent Department started “proxy applications” in 1922. Moreover, in order to strengthen the department, Geary recruited Rinji Fujii, former engineer at the Japanese Patent Office, and put him in charge of the department in 1924. With this the functional transfer from GE to Tokyo Electric was completed.

著者

橋本 規之

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.37, no.3, pp.57-85, 2002-12-25 (Released:2009-11-06)

被引用文献数

1

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The purpose of this paper is to clarify the function and performance of joint action (cartelization) to reduce excess capacity in the Japanese petrochemical industry, which was based on the Temporary Measures Law for the Structural Adjustment of Specific Industries, enacted in 1983.In this paper, we would like to propound a view that the cartel approach can make industrial adjustment smooth by showing the structure of dealing with excess capacity on joint action, and the contribution it makes to promoting productivity. We would also like to consider the conditions for supporting this adjustment style.The main conclusions of this paper are the following four points:First, joint action made it possible to escape from a “prisoner's dilemma” in reducing excess capacity. This led to concentration of production, reduction of depreciation cost, and relative stabilization of prices.Second, this joint action required security: a relaxation of the criteria of facilities disposal, such as a lowering of the accomplishment rate, adoption of a best-share style, and trading of capacity limits.Third, the capacity share basically determined the share of disposal, but in proportion to the rate of operation the burden of disposal was reduced. Economic loss in pro-rata style was avoided to some extent.Fourth, and last, there was a difference in the explanatory factor for the facilities disposal rate between the cartel and the non-cartel group. Similarly, there was a difference in their respective disposal rates. In the cartel group (ethylene, LDPE, HDPE), on the one hand, the rate of operation mainly determined the disposal rate. In the non-cartel (PP, EO, SM), on the other hand, the capacity share was the main determining factor. We confirmed statistically that the disposal rate of the cartel group was higher than that of the non-cartel group.

著者

濱田 信夫

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.37, no.4, pp.25-48, 2003-03-25 (Released:2010-11-18)

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This paper analyzes the process of the Kawasaki strike, which lasted from December 1947 to July 1948, Nishiyama Yataro, later president of Kawasaki Steel, was the director of the steelworks divisions of Kawasaki Heavy Industries. The main operation was in the Fukiai district of Kobe. Nishiyama faced corporate restructuring in a tug-of-war between the management and the radicalized union at Fukiai.The militant union demanded so large a role in management as to infringe on corporate leadership. The national labor federation, Sanbetsu, which was organized by the the Japan Communist Party, and the steel industry arm of Sanbetsu, Zentetsuro, were behind this labor movement. The union had won contracts (labor agreements) along the Sanbetsu model and was influenced by the communist fraction. Japan Federation of Employers' Association, Nikkeiren, identified the Kawasaki strike as a crucial struggle with the enemy, which it identified as communism.In this strike, Nishiyama organized staff and workers to fight the militant agitation that had taken over the union. During the struggle, the membership of the militant “first” union declined, and the membership of the cooperative “second” union rapidly increased. Thus, he broke the radical union and succeeded in formating a new and loyal union.Moreover, this paper points out that this strike marked a turning point for relations between management and union. In 1949, Nishiyama won new labor agreements to keep the industry peace and raise productivity. And he lead Kawasaki Steel, turning it into a major integrated iron and steel production in the 1950s.

著者

久保 文克

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.36, no.4, pp.76-92, 2002-03-25 (Released:2010-11-18)

著者

平尾 毅

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.37, no.1, pp.28-52, 2002-06-25 (Released:2009-11-06)

被引用文献数

1

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The objective of this paper is to identify the features of the interwar labour policy of Imperial Chemical Industries Ltd. (I.C.I.) by studying the connection between labour policy and welfare programmes.Industrial welfare was important for I.C.I., which possessed about 70 factories and some 40, 000 employees through amalgamation, as a labour strategy to stabilise industrial relations by reducing employment insecurity and fostering worker loyalty.The I.C.I. welfare schemes underwent a conversion from paternalistic benefits based on unitary ideals, such as personal contact between employers and employees, into systematic benefits based on formal rules, such as a joint contributory scheme. This change was made clear by analysing the systematisation of I.C.I. welfare schemes between the early period when Sir Alfred Mond, the first chairman, needed to lay the foundations for the new company and the latter period when Sir Harry McGowan, the second chairman, had to implement business restructuring by laying off and reshuffling surplus workers after the Great Depression.In the latter period, consequently, the square deal of all I.C.I. workers engaged in various trades in each factory indicated mechanistic unification of industrial relations, which was realised by introducing more comprehensive and systematic welfare programmes. In this respect, I.C.I. welfare programmes functioned effectively as a means to consolidate industrial relations.My conclusion includes the important implication that the role of systematic welfare schemes as a centralised labour policy was to facilitate labour turnover between subsidiary factories and to promote or supplement business restructuring with lay-offs and replacement of redundant labour in the early 1930s, by constructing comprehensive welfare programmes as the safety net in situations where the predecessor and conventional administrations of the constituent companies of I.C.I. remained to some extent.

出版者

経営史学会

雑誌

経営史学 (ISSN:03869113)

巻号頁・発行日

vol.37, no.1, pp.53-72, 2002-06-25 (Released:2009-11-06)