Following the useful panel discussion yesterday, I looked up and am forwarding along this RIETI paper that discusses the positive impact of increased foreign stock ownership upon productivity growth, especially due to their “strong attitudes toward voting. In section 3 this paper also mentions several earlier studies that showed a positive relationship between foreign investment and corporate value, and a negative relationship between cross-shareholding and firm value.
Head of Japan Strategy
Jefferies (Japan) Limited
Hibiya Marine Bldg 3F
(uploaded at the request of NaomiFink)