Download or read book Economic Organizations and Corporate Governance in Japan written by Curtis J. Milhaupt and published by . This book was released on 2004 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using an institutional and empirical approach, this work analyses the role of formal rules (laws and regulations) and informal rules (norms, practices, and shared beliefs) in the Japanese economy.

Download or read book Economic Organizations and Corporate Governance in Japan The Impact of Formal and Informal Rules written by Curtis J. Milhaupt and published by OUP Oxford. This book was released on 2004-07-22 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using an institutional and empirical approach, this book analyses the role of formal rules (law and regulations) and informal rules (norms, practices, and shared beliefs) in the Japanese economy. Through in-depth studies of corporate governance and finance, mergers and acquisitions, financial regulation, and markets for everything from venture capital to legal talent and organized crime, Milhaupt and West show that institutions play a crucial and heretofore overlooked role in the structure of the Japanese economy, which often is portrayed as being governed exclusively by interpersonal relations and bureaucratic fiat. The book demonstrates that despite outward appearances of a decade of stagnation in Japan, the formal and informal rules of the Japanese economy are changing significantly. The evidence suggests that in the mix of formal and informal rules that govern Japanese firms and set the incentive structure for other economic actors, law is gaining in importance. As these rules change, Japanese actors are responding, reshaping corporate governance and financial markets, eroding the bureaucracy's power. This book's emphasis on the centrality of institutions, institutional change, and responses to change portray a Japanese economy far different from those provided by previous accounts. It provides a wealth of previously unexplored data on the Japanese economy and legal system, and demonstrates the importance of a sound incentive roadmap for Japan's economic recovery and transition.

Download or read book Corporate Governance in Japan written by Masahiko Aoki and published by OUP Oxford. This book was released on 2007-09-06 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debates regarding corporate governance have become increasingly important in Japan as the post-war model of bank-based, stakeholder-oriented corporate governance faces the new pressures associated with globalization and growing investor demands for shareholder value. Bringing together a group of leading scholars from economics, law, sociology and management studies, this book looks at how the Japanese approach to corporate governance and the firm have changed in the post-bubble era. The contributions offer a unique empirical exploration of why and how Japanese firms are reshaping their corporate governance arrangements, leading to greater diversity among firms and new 'hybrid' forms of corporate governance. The book concludes by looking at what effect these incremental but transformative changes may have on Japan's distinctive variety of capitalism.

Download or read book Corporate Governance and Corporate Behavior in Japan written by Masaharu Hanazaki and published by Springer. This book was released on 2016-07-28 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book carefully examines the effects of changes in the corporate governance structure on corporate behavior or company performance, using micro-data from listed companies in Japan. The author found that in Japan the introduction of stock options had neither a positive impact on profitability nor the negative side effects of promoting risk-taking behaviors. Furthermore, he found that corporate diversification and division of corporations showed negative impacts on profitability. The corporate governance structure of Japan has exhibited a large change from the second half of the 1990s to the present. There have been institutional reforms involving enterprise law, such as the introduction of stock options and the removal of the ban on holding companies. With respect to the ownership structure of a company, discernible trends are that the equity holdings of financial institutions and business corporations have fallen while the presence of foreign stockholders has risen. These trends are often pointed out as signs that the Japanese corporate governance structure has been approaching the American model and that this will energize Japanese firms. The author contradicts common academic theories, however, and concludes that the formation of the corporate governance which emphasizes the agency problem between shareholders and corporate managers is inadequate. He suggests that an institutional arrangement for a corporate governance system that values a variety of stakeholders' interests is greatly needed and concludes that perspectives on maximizing surplus values for various stakeholders and distributing the surpluses appropriately among the stakeholders will become increasingly important for the purpose of managing corporations.

Download or read book Japanese Management in Change written by Norio Kambayashi and published by Springer. This book was released on 2014-09-18 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the burst of the “economic bubble” in the 1990s, many Japanese companies were required to reform their management systems. Changes in corporate governance were widely discussed during that decade in studies on “Japanese management.” These discussions have resulted in little progress, however, since Americanization became the dominant discourse concerning governance and the management system. There have been few studies conducted from an academic point of view on the internal aspects of organizations that practice traditional Japanese management theory. This book examines how, and the degree to which, the development of market principles accompanying the advances of globalization has affected the traditional Japanese system. It focuses on four aspects of corporate management: management institutions, strategy, organization, and human resource management. The aggregation of the new management system in Japanese companies is regarded as a distinctive Japanese-style system of management. With emphasis on these four aspects, research was conducted on the basic structure of that system, following changes in the market, technology, and society. Further, specific functions of the basic structure of the Japanese-style management system were studied. Those findings are included here, along with a discussion and analysis of the direction of future changes.

Download or read book Corporate Governance in Japan written by N. Demise and published by Springer Science & Business Media. This book was released on 2006-11-22 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the result of an international comparative study of corporate governance begun in 2002, and provides analysis of the issue as it applies to management, moral hazards, accounting practices, and the institutional investor from both a Japanese and a global perspective. The study presents a view of the company as an entity that not only maximizes profit for stockholders but that also has a social role to play in maintaining a sustainable society.

Download or read book Routledge Handbook of Japanese Business and Management written by Parissa Haghirian and published by Routledge. This book was released on 2016-01-29 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Routledge Handbook of Japanese Business and Management provides a comprehensive overview of management and business processes and practices in Japanese companies. The contributors combine theoretical findings and research results with a practical and contemporary view on how corporations and firms are managed in Japan. The handbook is divided into eight sections covering: historical perspectives on Japanese management; structure and theory of the Japanese firm; the corporate environment in Japan; the Japanese work environment; the Japanese market; manufacturing and logistics; interaction and communication; the future of Japanese management. This book is an essential reference resource for students and scholars working on Japanese companies, the Japanese market-place, Japanese consumers, or management processes in the Japanese firm. The book also provides an interesting and informative read for managers who need to deepen their knowledge on Japanese business processes.

Download or read book The Anatomy of Corporate Law A Comparative and Functional Approach written by Reinier Kraakman and published by Oxford University Press, USA. This book was released on 2009-07-23 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second edition of this highly regarded comparative overview of corporate law. It argues that the main function of corporate law is to address conflicts of interests and that, despite economic and social diversity, legal strategies employed across jurisdictions are surprisingly similar.

Download or read book Law in Everyday Japan written by Mark D. West and published by University of Chicago Press. This book was released on 2010-02-15 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lawsuits are rare events in most people's lives. High-stakes cases are even less commonplace. Why is it, then, that scholarship about the Japanese legal system has focused almost exclusively on epic court battles, large-scale social issues, and corporate governance? Mark D. West's Law in Everyday Japan fills a void in our understanding of the relationship between law and social life in Japan by shifting the focus to cases more representative of everyday Japanese life. Compiling case studies based on seven fascinating themes—karaoke-based noise complaints, sumo wrestling, love hotels, post-Kobe earthquake condominium reconstruction, lost-and-found outcomes, working hours, and debt-induced suicide—Law in Everyday Japan offers a vibrant portrait of the way law intermingles with social norms, historically ingrained ideas, and cultural mores in Japan. Each example is informed by extensive fieldwork. West interviews all of the participants-from judges and lawyers to defendants, plaintiffs, and their families-to uncover an everyday Japan where law matters, albeit in very surprising ways.

Download or read book Employees and Corporate Governance written by Margaret M. Blair and published by Brookings Institution Press. This book was released on 2010-12-01 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most scholarship on corporate governance in the last two decades has focused on the relationships between shareholders and managers or directors. Neglected in this vast literature is the role of employees in corporate governance. Yet "human capital," embodied in the employees, is rapidly becoming the most important source of value for corporations, and outside the United States, employees often have a significant formal role in corporate governance. This volume turns the spotlight on the neglected role of employees by analyzing many of the formal and informal ways that employees are actually involved in the governance of corporations, in U.S. firms and in large corporations in Germany and Japan. Examining laws and contexts, the essays focus on the framework for understanding employees' role in the firm and the implications for corporate governance. They explore how and why the special legal institutions in German and Japanese firms by which employees are formally involved in corporate governance came into being, and the impact these institutions have on firms and on their ability to compete. They also consider theoretical and empirical questions about employee share ownership. The result of a conference at Columbia University, the volume includes essays by Theodor Baums, Margaret M. Blair, David Charny, Greg Dow, Bernd Frick, Ronald J. Gilson, Jeffrey N. Gordon, Nobuhiro Hiwatari, Katharina Pistor, Louis Putterman, Edward B. Rock, Mark J. Roe, and Michael L. Wachter. Margaret M. Blair is a senior fellow in Economic Studies at the Brookings Institution and author of Ownership and Control: Rethinking Corporate Governance for the Twenty-first Century (Brookings, 1995). Mark J. Roe, professor of business regulation and director of the Sloan Project on Corporate Governance at Columbia Law School, is the author of Strong Managers, Weak Owners: The Political Roots of American Corporate Finance (Princeton, 1996).

Download or read book Transforming Corporate Governance in East Asia written by Curtis Milhaupt and published by Routledge. This book was released on 2008-06-18 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past ten years, the corporate governance environment in East Asia has undergone a significant transformation. The Asian Financial crisis, together with Japan‘s long economic malaise, undermined confidence in the corporate structures, governance practices, and regulatory oversight of firms in the region. Since that time, each of the countri

Download or read book Corporate Governance in the 21st Century written by Luke Nottage and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance in the 21st Century is a very useful addition to the literature on corporate governance in Japan. It is worth reading simply because it updates many of the ongoing issues such as adoptions of takeover defenses, appointments of independent directors, and increases in foreign direct investment. It is also useful because it examines corporate governance from the perspectives of business as well as law. Furthermore, it provides the beginnings of a framework through which to understand the process of gradual transformation. Christina L. Ahmadjian, Journal of Japanese Studies An invaluable set of resources for everyone with an interest in corporate governance in Japan. Covering both basic information and recent developments, the collection provides readers with an excellent survey of the complexity of modern corporate governance and its legal setting. . . in Japan. Hideki Kanda, University of Tokyo, Japan The essays in this collection approach Japanese corporate governance in the 2000s from a variety of novel perspectives novel in terms of subject matter, methodology, and points of comparison. The result is a comprehensive portrait of the current dynamics of change and stasis in the institutional environment for Japanese firms. Curtis Milhaupt, Columbia Law School, US The lost decade of economic stagnation in Japan during the 1990s has become a found decade for regulatory and institutional reform. Nowhere is this more evident than in corporate law. In 2005, for example, a spate of reforms to the Commercial Code culminated in the new Company Act, a statute promising greater organisational flexibility and shareholder empowerment for Japanese corporations competing in a more globalised economy. But does this new law herald a more Americanised system of corporate governance? Has Japan embraced shareholder primacy over its traditional loyalty to other key stakeholders such as main banks , core employees, and partners within diffuse corporate (keiretsu) groups? This book argues that a more complex gradual transformation is unfolding in Japan a process evident in many other post-industrial economies. The book brings together contributions from academics and practitioners from Japan, Australia, New Zealand, Canada and the United States. It includes chapters on comparative corporate governance theory and methodology, lifelong employment, the main bank system, board structures, and governance issues in small and medium-sized enterprises. The procedural, substantive and FDI policy dimensions of takeover law and practice are discussed, as well as empirical changes to corporate governance practices in large, publicly listed companies during the past twenty years. The authors rich mix of national, disciplinary and professional backgrounds allows for a broad comparative perspective on developments in Japanese corporate governance. The book will be of great interest to scholars and students of law, business, political economy and Japanese studies, and will also appeal to corporate lawyers and policymakers.

Download or read book Corporate Governance and Managerial Reform in Japan written by D. Hugh Whittaker and published by OUP Oxford. This book was released on 2009-10-29 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Japanese corporate governance and managerial practice is at a critical juncture. At the start of the decade pressures mounted for Japan to move to a shareholder-value driven, 'Anglo-American' system of corporate governance. Subsequent changes, however, may be seen as an adjustment and renewal of the post-war model of the Japanese firm. In adapting to global corporate governance standards, Japanese managers have also been reshaping them according to their own agenda of reform and restructuring of decision-making processes. The board's role is seen in terms of strategic planning rather than monitoring, and external directors are viewed as advisers, not as representatives of the shareholders. Managers have adopted a variety of defences against hostile takeovers, including poison pills in some cases. Although shareholder influence is more extensive than it was, central aspects of the Japanese 'community firm' remain in place. The commitment to stable or 'lifetime' employment for a core of employees, although coming under severe pressure, is still an important point of reference for Japanese management. Corporate Governance and Managerial Reform in Japan is based on detailed and intensive field work in large Japanese companies and interviews with investors, civil servants, and policy makers in the period following the adoption of significant corporate law reforms in the early 2000s up to the months just before the global financial crisis of 2008. The Japanese experience suggests that there are limits to the global convergence of company law systems, and that the widespread association of Anglo-American practices with the 'modernization' of corporate governance has been misplaced. This conclusion is unlikely to be altered - it may be reinforced - by reactions to the financial crisis.

Download or read book The Convergence of Corporate Governance written by Abdul Rasheed and published by Springer. This book was released on 2012-06-12 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Takes readers through an in-depth examination of many leading industrialized nations and identifies both the drivers that propel corporations towards convergence and the major impediments that stand in the way of convergence. Also examines many mechanisms of convergence such as governance codes, MNCs, and IPOs.

Download or read book Japanese Political Economy Revisited written by David Chiavacci and published by Routledge. This book was released on 2020-11-25 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last 30 years, the Japanese political economy system has experienced significant changes that are usually not well understood or analysed because of their complexity and contradictions. This book provides new analyses and insights on the process of evolving Japanese political economy including Japan’s current economic policy known as Abenomics. The first three chapters looks at evolutions at the corporate level, characterised in recent years by increasing firm heterogeneity. The authors apply theoretically driven analyses to the complex subject of corporate governance, human resource management and corporate reporting by discussing new developments in context of their economic opportunities as well as of their institutional contradictions with continuities in Japanese business practices. The second group of chapters deals with institutional changes and evolving economic reforms on the macro level of political economy. The two chapters focus on the financial system regulation and economic growth policies as two central elements of Japan’s political economy and key drivers in the evolution of its economy. Their analysis allows us to better understand the interplay between reforms and change in consumption credit and to reinterpret Abenomics as a manifestation of ongoing contradictions within the Japanese political economy. The chapters were originally published in a special issue in Japan Forum.

Download or read book The Anatomy of Corporate Law written by Reinier H. Kraakman and published by Oxford University Press. This book was released on 2017 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the long-awaited third edition of this highly regarded comparative overview of corporate law. This edition has been comprehensively revised and updated to reflect the profound changes in corporate law and governance practices that have taken place since the previous edition. These include numerous regulatory changes following the financial crisis of 2007-09 and the changing landscape of governance, especially in the US, with the ever more central role of institutional investors as (active) owners of corporations. The geographic scope of the coverage has been broadened to include an important emerging economy, Brazil. In addition, the book now incorporates analysis of the burgeoning use of corporate law to protect the interests of "external constituencies" without any contractual relationship to a company, in an attempt to tackle broader social and economic problems. The authors start from the premise that corporations (or companies) in all jurisdictions share the same key legal attributes: legal personality, limited liability, delegated management, transferable shares, and investor ownership. Businesses using the corporate form give rise to three basic types of agency problems: those between managers and shareholders as a class; controlling shareholders and minority shareholders; and shareholders as a class and other corporate constituencies, such as corporate creditors and employees. After identifying the common set of legal strategies used to address these agency problems and discussing their interaction with enforcement institutions, The Anatomy of Corporate Law illustrates how a number of core jurisdictions around the world deploy such strategies. In so doing, the book highlights the many commonalities across jurisdictions and reflects on the reasons why they may differ on specific issues. The analysis covers the basic governance structure of the corporation, including the powers of the board of directors and the shareholder meeting, both when management and when a dominant shareholder is in control. It then analyses the role of corporate law in shaping labor relationships, protection of external stakeholders, relationships with creditors, related-party transactions, fundamental corporate actions such as mergers and charter amendments, takeovers, and the regulation of capital markets. The Anatomy of Corporate Law has established itself as the leading book in the field of comparative corporate law. Across the world, students and scholars at various stages in their careers, from undergraduate law students to well-established authorities in the field, routinely consult this book as a starting point for their inquiries.

Download or read book Comparative Corporate Governance written by Andreas M. Fleckner and published by Cambridge University Press. This book was released on 2013-07-11 with total page 1252 pages. Available in PDF, EPUB and Kindle. Book excerpt: The business corporation is one of the greatest organizational inventions, but it creates risks both for shareholders and for third parties. To mitigate these risks, legislators, judges, and corporate lawyers have tried to learn from foreign experiences and adapt their regulatory regimes to them. In the last three decades, this approach has led to a stream of corporate and capital market law reforms unseen before. Corporate governance, the system by which companies are directed and controlled, is today a key topic for legislation, practice, and academia all over the world. Corporate scandals and financial crises have repeatedly highlighted the need to better understand the economic, social, political, and legal determinants of corporate governance in individual countries. Comparative Corporate Governance furthers this goal by bringing together current scholarship in law and economics with the expertise of local corporate governance specialists from twenty-three countries.