Corporate governance in Japan : institutional change and organizational diversity

Bibliographic Information

Corporate governance in Japan : institutional change and organizational diversity

edited by Masahiko Aoki, Gregory Jackson, Hideaki Miyajima

Oxford University Press, 2007

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Note

"This volume grew out of a study group on corporate governance at the Research Institute of Economy, Trade and Industry (RIETI) in 2002."--Pref., p. [vii]

Includes bibliographical references and index

Contents of Works

  • Introduction : the diversity and change of corporate governance in Japan / Gregory Jackson and Hideaki Miyajima
  • Relationship banking in post-Bubble Japan : coexistence of soft- and hard-budget constraints / Yasuhiro Arikawa and Hideaki Miyajima
  • The unwinding of cross-shareholding in Japan : causes, effects, and implications / Hideaki Miyajima and Fumiaki Kuroki
  • Foreign investors and corporate governance in Japan / Christina Ahmadjian
  • Venture capital and its governance : the emergence of equity financing conduits in Japan / Nobuyuki Hata, Haruhiko Ando, and Yoshiaki Ishii
  • Corporate governance in financial distress : the new role of bankruptcy / Peng Xu
  • The rise of bank-related corporate revival funds / Noriyuki Yanagawa
  • Business portfolio restructuring of Japanese firms in the 1990s : entry and exit analysis / Tatsuya Kikutani, Hideshi Itoh, and Osamu Hayashida
  • Corporate finance and human resource management in Japan / Masahiro Abe and Takeo Hoshi
  • Employment adjustment and distributional conflict in Japanese firms / Gregory Jackson
  • The turnaround of 1997 : changes in Japanese corporate law and governance / Zenichi Shishido
  • The performance effects and determinants of corporate governance reform / Hideaki Miyajima
  • Insider management and board reform : for whose benefit? / Ronald Dore
  • Organizational diversity and institutional change : evidence from financial and labor markets in Japan / Mari Sako
  • Conclusion : whither Japan's corporate governance? / Masahiko Aoki

Description and Table of Contents

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.

Table of Contents

  • 1. Introduction: The Diversity and Change of Corporate Governance in Japan
  • CHANGES IN OWNERSHIP AND FINANCE
  • 2. Relational Banking in Post-Bubble Japan: The Coexistence of Soft- and Hard-Budget Constraints
  • 3. The Unwinding of Cross-shareholding: Causes, Effects, and Implications
  • 4. Foreign Investors and Corporate Governance in Japan
  • 5. Venture Capital and its Governance: The Emergence of Equity Financing Conduits in Japan
  • 6. Corporate Governance in Financial Stress: The New Role of Bankruptcy
  • 7. The Rise of Bank-Related Corporate Revival Funds
  • CHANGES IN ORGANIZATION, EMPLOYMENT, AND CORPORATE BONDS
  • 8. Business Portfolio Restructuring of Japanese Firms in the 1990s
  • 9. Corporate Finance and Human Resource Management: Some Recent Survey Evidence
  • 10. Employee Participation, Adjustment and Distributional Conflict
  • 11. The Turnaround of 1997: Changes in Japanese Corporate Law and Governance
  • 12. The Performance Effects and Determinants of Corporate Governance Reform
  • 13. Insider Management and Board Reform: For Whose Benefit?
  • DIVERSITY AND INSTITUTIONAL CHANGE
  • 14. Organizational Diversity and Institutional Change: Evidence from Financial and Labor Markets in Japan
  • 15. Conclusion: Wither Japanese Corporate Governance? Toward External Monitoring of Internal Linkage

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