The Organization of Enterprise in Japan
研究了1896至1939年日本股份制企业的广泛使用及其高利润表现，分析了外部融资、发展阶段、产业结构、公共政策和文化等因素的作用。
Recent research indicates the joint stock form was not a superior type of business organization in many countries historically. In Japan, however, its role was more pervasive. From 1896 to 1939 joint stock enterprises accounted for 44 percent of registered businesses and 80 percent of total capital. From 1922 to 1939 these enterprises outperformed other forms and generated 94 percent of aggregate profits. External finance factors, Japan's development phase, industrial structure, public policy, and culture led to high joint stock usage. The private limited liability company, introduced in 1938, did not displace the joint stock form.