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¡ÚÊó¹ð¥¿¥¤¥È¥ë¡Û¡§The Distribution of Cash in Japanese Firms
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¡¡Compared to their European and American counterparts, Japanese firms exhibit low returns and rates of probitability. Disregard for shareholder interests due to weak standards of corporate governance is often cited as a primary cause.
Although returns to investors and dividend payouts are low, this paper attempts to investigate corporate governance from a wider perspective of the firm by using cash flow data to examine the full range of options management has to utilize firms' cash resources.
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