Strategic investments in Japanese corporations: Do foreign portfolio owners foster underinvestment or appropriate investment?

STRATEGIC INVESTMENTS IN JAPANESE CORPORATIONS: DO FOREIGN PORTFOLIO OWNERS FOSTER UNDERINVESTMENT OR APPROPRIATE INVESTMENT? PARTHIBAN DAVID,* TORU YOSHIKAWA, MURALI D. R. CHARI and ABDUL A. RASHEED 1 Mendoza College of Business, University of Notre Dame, Notre Dame, Indiana, U.S.A. 2 Lee Kong Chian School of Business, Singapore Management University, Singapore 3 School of Business and Economics, Indiana University South Bend, South Bend, Indiana, U.S.A. 4 College of Business Administration, University of Texas at Arlington, Arlington, Texas, U.S.A.

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