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• Article | Business History Review | Spring, 2013

  Intermediary Functions and the Market for Innovation in Meiji and Taisho Japan

  Tom Nicholas and Hiroshi Shimizu

  Japan experienced a transformational phase of technological development during the late nineteenth and early twentieth centuries. We argue that an important, but so far neglected, factor was a developing market for innovation and a patent attorney system that was conducive to rapid technical change. We support our hypothesis using patent data, and we also present a detailed case study on Tomogorō Ono, a key developer of salt production technology who used attorneys in connection with his patenting work at a time when Japan was still in the process of formally institutionalizing its patent attorney system. In accordance with Lamoreaux and Sokoloff's influential study of trade in invention in the United States, our quantitative and qualitative evidence highlights how inventors and intermediaries in Japan interacted to create a market for new ideas.

  Keywords: Japan; patents; innovation;

  Citation:

  Nicholas, Tom, and Hiroshi Shimizu. "Intermediary Functions and the Market for Innovation in Meiji and Taisho Japan." Business History Review 87, no. 1 (Spring, 2013): 121–150.

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• Case | HBS Case Collection | 2013 (Revised from original 2012 version)

  Grantham, Mayo, and Van Otterloo, 2012: Estimating the Equity Risk Premium

  Samuel Hanson, Erik Stafford and Luis Viceira

  Keywords: investment banking; Equity Valuation;

  Citation:

  Hanson, Samuel, Erik Stafford, and Luis Viceira. "Grantham, Mayo, and Van Otterloo, 2012: Estimating the Equity Risk Premium." Harvard Business School Case 213-051, February 2013. (Revised from original October 2012 version.)

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• Supplement | HBS Case Collection | 2013

  Grantham, Mayo, and Van Otterloo, 2012: Estimating the Equity Risk Premium (CW)

  Samuel Gregory Hanson, Erik Stafford and Luis M. Viceira

  Citation:

  Hanson, Samuel Gregory, Erik Stafford, and Luis M. Viceira. "Grantham, Mayo, and Van Otterloo, 2012: Estimating the Equity Risk Premium (CW)." Harvard Business School Spreadsheet Supplement 213-717, February 2013.

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