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Author: D. Hugh Whittaker
Publisher: OUP Oxford
ISBN: 019160982X
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
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.
Author: D. Hugh Whittaker
Publisher: OUP Oxford
ISBN: 019160982X
Category : Business & Economics
Languages : en
Pages : 316
Get Book Here
Book Description
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.
Author: Masahiko Aoki
Publisher: OUP Oxford
ISBN: 0191536385
Category : Business & Economics
Languages : en
Pages : 480
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Book Description
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.
Author: Takeo Hoshi
Publisher: Cambridge University Press
ISBN: 1108843956
Category : Business & Economics
Languages : en
Pages : 573
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Book Description
Explores the politics and economics of the Abe government and evaluates major policies, such as Abenomics policy reforms.
Author: T. Inagami
Publisher: Cambridge University Press
ISBN: 9781139442930
Category : Business & Economics
Languages : en
Pages : 302
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Book Description
After sweeping all before it in the 1980s, 'Japanese management' ran into trouble in the 1990s, especially in the high-tech industries, prompting many to declare it had outlived its usefulness. From the late 1990s leading companies embarked on wide-ranging reforms designed to restore their entrepreneurial vigour. For some, this spelled the end of Japanese management; for others, little had changed. From the perspective of the community firm, Inagami and Whittaker examine changes to employment practices, corporate governance and management priorities, in this 2005 book, drawing on a rich combination of survey data and an in-depth study of Hitachi, Japan's leading general electric company and enterprise group. They find change and continuity, the emergence of a 'reformed model', but not the demise of the community firm. The model addresses both economic vitality and social fairness, within limits. This book offers unique insights into changes in Japanese management, corporations and society.
Author: Sanford M. Jacoby
Publisher: Princeton University Press
ISBN: 0691133840
Category : Business & Economics
Languages : en
Pages : 235
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Book Description
The author traces the enduring diversity of corporate culture in Japan and the U.S. to national differences in economic history and social norms, and, paradoxically, to global competition itself.
Author: Hideko Magara
Publisher: Edward Elgar Publishing
ISBN: 0857932934
Category : Business & Economics
Languages : en
Pages : 235
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Book Description
This innovative volume will be an excellent resource for political scientists specialized in political economy and industrial relations, labour economists and sociologists as well as policy practitioners and corporate governance specialists. Moreover,
Author: Randall K. Morck
Publisher: University of Chicago Press
ISBN: 0226536831
Category : Business & Economics
Languages : en
Pages : 700
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Book Description
For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong. In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families. A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.
Author: John Buchanan
Publisher: Cambridge University Press
ISBN: 1107379318
Category : Business & Economics
Languages : en
Pages : 389
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Book Description
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.
Author: Pepper D. Culpepper
Publisher: Cambridge University Press
ISBN: 1139491857
Category : Political Science
Languages : en
Pages : 246
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Book Description
Does democracy control business, or does business control democracy? This study of how companies are bought and sold in four countries - France, Germany, Japan and the Netherlands - explores this fundamental question. It does so by examining variation in the rules of corporate control - specifically, whether hostile takeovers are allowed. Takeovers have high political stakes: they result in corporate reorganizations, layoffs and the unraveling of compromises between workers and managers. But the public rarely pays attention to issues of corporate control. As a result, political parties and legislatures are largely absent from this domain. Instead, organized managers get to make the rules, quietly drawing on their superior lobbying capacity and the deference of legislators. These tools, not campaign donations, are the true founts of managerial political influence.
Author: Jeffrey Neil Gordon
Publisher: Oxford University Press
ISBN: 0198743688
Category : Business & Economics
Languages : en
Pages : 1217
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Book Description
Corporate law and corporate governance have been at the forefront of regulatory activities across the world for several decades now, and are subject to increasing public attention following the Global Financial Crisis of 2008. The Oxford Handbook of Corporate Law and Governance provides the global framework necessary to understand the aims and methods of legal research in this field. Written by leading scholars from around the world, the Handbook contains a rich variety of chapters that provide a comparative and functional overview of corporate governance. It opens with the central theoretical approaches and methodologies in corporate law scholarship in Part I, before examining core substantive topics in corporate law, including shareholder rights, takeovers and restructuring, and minority rights in Part II. Part III focuses on new challenges in the field, including conflicts between Western and Asian corporate governance environments, the rise of foreign ownership, and emerging markets. Enforcement issues are covered in Part IV, and Part V takes a broader approach, examining those areas of law and finance that are interwoven with corporate governance, including insolvency, taxation, and securities law as well as financial regulation. The Handbook is a comprehensive, interdisciplinary resource placing corporate law and governance in its wider context, and is essential reading for scholars, practitioners, and policymakers in the field.
