Corporate Governance : What Can Be Learned From Japan?: What Can Be Learned From Japan? (Google eBook)

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Oxford University Press, Sep 5, 2002 - Business & Economics - 190 pages
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This book explores current thinking on corporate governance by way of a detailed study of the governance practices of fourteen Japanese companies. The author was granted extensive access to these Japanese companies, as well as to their partner companies, their shareholders, and their banks, and is therefore able to provide a detailed insight into the way that Japanese companies are actually governed on a day-to-day basis. The book suggests that current mainstream conceptualizations of corporate governance are inadequate, as they do not help to understand the way that these Japanese companies are directed and controlled in practice. In the majority of cases, governance operates through a system which draws on the reciprocal obligations, responsibilities, and trust generated in everyday interactions at the individual and organizational level. The conclusions of the research have important implications not only for our understanding of the Japanese system of corporate governance, but also for international corporate governance policy and research in general. In particular, the book commends greater recognition that alongside the currently dominant concern 'controlling' the behaviour of company managers, the governance of companies might equally be considered in terms of the responsibilities, reciprocal obligations, and trust inherent in everyday interactions. The book is equally accessible and relevant to both academics and to those involved with corporate governance issues on a day-to-day basis, including financial services providers, lawyers, policymakers, and company directors.
  

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Contents

A Review of Corporate Governance Ideas
7
13 Critiques of Economic Approaches
10
14 Organizational Approaches
12
15 Case for an Empirical Study of Japanese Corporate Governance
16
Current Views of Japanese Corporate Governance
18
22 The Role of Shareholders
20
23 The Role of the Main Bank
26
24 The Role of Employees
32
53 The Continuing Importance of Relationship Banking
76
54 Contextual Knowledge and Competition
82
55 Accountability Obligation and Trust
92
A Community of Employees
97
63 Coalescing Interests
107
64 Identification Commitment Responsibility
115
Japanese DirectorsElders of the Corporate Community
125
73 Allegiance to the Company and all its Constituents
136

25 The Role of Senior Management
35
Carrying Out the Research
40
32 Access
41
33 Data Collection
43
34 Data Analysis
46
Japanese Companies and their Shareholders
48
43 Enduring Attitudes to Shares and Shareholding
54
44 Adapting the Global Standard
61
45 Investors and Partners
67
The CompanyMain Bank Relationship
71
74 Linchpins of the Corporate Community
139
What can be Learned?
144
82 Reciprocal Responsibilities Obligations and Trusts
145
83 Socially Endogenous Corporate Governance
150
84 Relation to Existing Theories of Corporate Governance
154
85 Implications for Corporate Governance Policy and Research
156
Bibliography
161
Index
175
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