Corporate Governance: What Can Be Learned From Japan?
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.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Current Views of Japanese Corporate Governance
22 The Role of Shareholders
23 The Role of the Main Bank
24 The Role of Employees
53 The Continuing Importance of Relationship Banking
54 Contextual Knowledge and Competition
55 Accountability Obligation and Trust
A Community of Employees
63 Coalescing Interests
64 Identification Commitment Responsibility
Japanese DirectorsElders of the Corporate Community
73 Allegiance to the Company and all its Constituents
25 The Role of Senior Management
Carrying Out the Research
33 Data Collection
34 Data Analysis
Japanese Companies and their Shareholders
43 Enduring Attitudes to Shares and Shareholding
44 Adapting the Global Standard
45 Investors and Partners
The CompanyMain Bank Relationship
74 Linchpins of the Corporate Community
What can be Learned?
82 Reciprocal Responsibilities Obligations and Trusts
83 Socially Endogenous Corporate Governance
84 Relation to Existing Theories of Corporate Governance
85 Implications for Corporate Governance Policy and Research
Other editions - View all
accountability agency theory analysts appeared argued auditors Bank of Japan behaviour board of directors CalPERS capital markets cent changes chapter claimed colleagues commitment companies are governed companies I studied company directors company name company president company-main bank relationship company's core employees corporate community cross-shareholding decisions developed discussed economic theories empirical equities example external auditors external directors finance director firm foreign shareholders global governance role important institutional investors interaction interests internal interviewees investment investor relations department issues Japan Japanese banks Japanese board Japanese companies Japanese corporate governance Japanese financial system Japanese system job rotation jomu-kai keiretsu levels lifetime employment long-term main bank majority of companies managing director meeting mochiai monitoring obligations OECD organizational panies particular problem recruited relevant salary sample seemed senior director sense share price sokaiya stakeholder suggest system of corporate tend Tokyo Stock Exchange told transaction costs economics trust