The Japanese keiretsu system——A special kind of business relations and corporate governance is changing in a globalizing world

1.Structure of the keiretsu The name keiretsu(in Japanese.系列) means literally "system"," series" or "line".Keiretsu are groups of companies with very close business relations(Munich Business School,2008).The core of these conglomerates is a bank which provides them with liquidity or loans and