Abstract
The Japanese and the Americans have different perceptions of time. This difference exists as part of their culture and the values they advocate. The cultural, political and historical background consequently leads to two different banking forms: the bank-based and the market-based systems. Until the 1990s, many observers acknowledged that the "patient capital vision" that implied a long-term relationship with the banks was greatly a part of the Japanese success. However, the results-oriented American behavior proved its efficiency during the 1990s while Japan was undergoing a severe financial crisis. However both systems have their own advantages and there is no "one best way".
