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에너지혁명하 일본탄광기업의 경영전략(Strategies of Japanese coal mining firms under ‘the energy revolution’: 1955-1973)

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  • 에너지혁명하 일본탄광기업의 경영전략(Strategies of Japanese coal mining firms under ‘the energy revolution’: 1955-1973)
  • 정진성
  • 서울대학교 국제학연구소


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Title 에너지혁명하 일본탄광기업의 경영전략(Strategies of Japanese coal mining firms under ‘the energy revolution’: 1955-1973)
Similar Titles
Material Type Articles
Author(Korean)

정진성

Publisher

서울 : 서울대학교 국제학연구소

Date 2004
Journal Title; Vol./Issue 국제․지역연구:13권(3호)
Pages 30
Subject Country Japan(Asia and Pacific)
South Korea(Asia and Pacific)
Language Korean
File Type Link
Subject Economy < Economic Conditions
Economy < Economic Administration
Industry and Technology < Energy
Holding 서울대학교
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Abstract

The energy revolution, the rapid substitution of coal by oil beginning in the late 1950s prompted a big drop in the domestic coal demand. Under this
harsh market condition, the coal mining firms in Japan had to choose the exit strategy in the end. However, exit accompanying unemployment or
decline of the regional economies was not easy because of the high exit barriers. The coal policies made exit easier by lowering the exit barriers
from 1961. The small-and-medium firms, lacking the funds for investment and their exit cost being relatively low, chose exit in early 1960s shortly
after the energy revolution began. On the other hand, for large firms, exit was not an easy choice because of higher exit costs. They tried restructuring following the idea of ‘scrap and build.’ However, in the middle of 1960s when it became clear that there was no hope of reconstruction, they started exiting. As the exit continued, only the keiretsu mines could remain in the market in the 1970s. In addition to the higher productivity of their
mines, aids from keiretsu to maintain its own social trust enabled them to remain in the latest period.