Hedge Fund Activism in Japan
The Limits of Shareholder Primacy
- English
- PDF
- Available on iOS & Android
Hedge Fund Activism in Japan
The Limits of Shareholder Primacy
About this book
Hedge fund activism is an expression of shareholder primacy, an idea that has come to dominate discussion of corporate governance theory and practice worldwide over the past two decades. This book provides a thorough examination of public and often confrontational hedge fund activism in Japan in the period between 2001 and the full onset of the global financial crisis in 2008. In Japan this shareholder-centric conception of the company espoused by activist hedge funds clashed with the alternative Japanese conception of the company as an enduring organisation or a 'community'. By analysing this clash, the book derives a fresh view of the practices underpinning corporate governance in Japan and offers suggestions regarding the validity of the shareholder primacy ideas currently at the heart of US and UK beliefs about the purpose of the firm.
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Information
Table of contents
- Cover
- Hedge Fund Activism in Japan
- Title
- Copyright
- Contents
- Figures
- Tables
- Acknowledgements
- Note on transcription of Japanese words
- 1 Introduction: hedge fund activism, Japanese corporate governance, and the nature of the company
- 2 Perspectives, methods, and data
- 3 Companies, company law, and corporate governance
- 4 The rise of shareholder primacy in America and Britain
- 5 The emergence of activist hedge funds
- 6 Firm-centric corporate governance: the evolution of the Japanese model
- 7 Japanâs unexpected credentials as a target for hedge fund activism
- 8 Hedge fund activism in Japan: funds, targets, and outcomes
- 9 Two turning points: Bull-Dog Sauce and J-Power
- 10 Responding to activism: managers, investors, officials, and the media
- 11 âQuiet activismâ: the future for shareholder engagement in Japan?
- 12 Conclusions: hedge fund activism, Japanese corporate governance, and shareholder primacy
- Data appendix
- Bibliography
- Index