The Evolution of Corporate Governance in Japan
Regulatory Changes, Global Financialization, and Corporate Performance
- English
- ePUB (mobile friendly)
- Available on iOS & Android
The Evolution of Corporate Governance in Japan
Regulatory Changes, Global Financialization, and Corporate Performance
About this book
By examining several key variables concerning corporate governance, Miyajima and Arikawa examine the evolutionary process of corporate governance arrangements in Japan from the 2000s to the early 2020s.
Japanese corporate governance has become more market-oriented and this book illustrates the impact of the change on corporate behavior including business diversification, restructuring, and corporate misconduct. This volume looks at how Japanese firms have evolved from cross-shareholding between firms and banks to a more shareholder-oriented system, with an expanding role for outside directors and, more importantly, large holdings by institutional shareholders (including activist and buyout funds). The notion of hybridization, which is one of the key concepts of this book, enhances the understanding of the evolution of corporate governance in Japan. As financial markets continue to globalize and institutional shareholders gain influence, firms in in civil law jurisdictions or coordinated market economies may find the book's discussion of hybridization of interest.
An essential read for scholars in finance, management and organization as well as market participants and lawyers who wish to understand the current Japanese economy from a practical perspective.
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Table of contents
- Cover
- Frontispiece
- Half Title
- Series Page
- Title Page
- Copyright Page
- Table of Contents
- Contributors
- Preface
- 1 Overview of the Evolution of Corporate Governance: The Impact of Reforms and the Future of Japanese Firms
- 2 The Bank-Firm Relationship after the Creation of Megabanks
- 3 The Role of Foreign Institutional Investors in Corporate Governance
- 4 Employee Stock Ownership in Japan
- 5 Current State and Analysis of Corporate Governance Reforms in Japan: How the “Comply or Explain” Rule Can and Has Changed the Board of Directors System
- 6 Board Evolution in Japan in the Last 20 Years
- 7 The Effects of Opening Up All-Insider Boards on Firm Value and CSR: A Study from Japan
- 8 Empirical Analysis of Public-to-Private Management Buyouts of Japanese Companies
- 9 Private Debt Restructuring and Alternative Dispute Resolution in Japan
- 10 Have Large Firms in Japan Become More Likely to Have Fewer Employees?
- 11 Agency Hazards and the Value of Corporate Diversification in Japan
- 12 Corporate Governance and Financial Misconduct: Is Corporate Governance Reform Effective?
- 13 Impact of Organizational Culture on Corporate Fraud: Quantitative Empirical Research Using Text Mining of Corporate Philosophies
- 14 Corporate Social Responsibility in Context: A Comparative Perspective on Japan
- 15 ESG Investment and Its Impact on Japanese Companies
- 16 Corporate Governance, Employment, and Financial Performance of Japanese Firms: A Cross-Country Analysis
- Index