UBI-GM-Presentation04.050112-culture pptx

Cultural Dynamics in Assessing Global Markets

Chapter 4

McGraw-Hill/Irwin © 2005 The McGraw-Hill Companies, Inc. All rights reserved.

PowerPoint presentation prepared by:

Alfred Lowey-Ball

Associate Professor of Marketing

UBI-United Business Institutes

Brussels, Belgium

MERRIL LYNCH in Japan

McGraw-Hill/Irwin © 2005 The McGraw-Hill Companies, Inc. All rights reserved.

• Liberalization of Japan’s capital markets gives more freedon

of choice to private citizens

• Freeing of capital from time deposits held by the postal

system

• Opportunity for equities? Merrill rushed in.

• No  No stock owning risk-taking culture in Japan

9% households invested in stocks vs 50% in US

No boost from internet connectivity

• Merrill now cutting back in Japan.

• Similar hesitancy in Europe