Corporate Governance in Japan

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.

ISBN 0199284512   Pages 480 ISBN13 9780199284511 (What's this?)   Volumes 1 Publisher Oxford University Press   Weight (grammes) 873 Imprint Oxford University Press   Published in Oxford Format Hardback   Height (mm) 240 Publication date 06 Sep 2007   Width (mm) 160 Library of Congress 2007281393   Spine width (mm) 35 DEWEY 658.40952   Academic level Professional / Scholarly DEWEY edition DC22

1		Introduction : the diversity and change of corporate governance in Japan by Gregory Jackson and Hideaki Miyajima		1
Pt. I		Changes in ownership and finance
2		Relationship banking in post-bubble Japan : coexistence of soft- and hard-budget constraints by Yasuhiro Arikawa and Hideaki Miyajima		51
3		The unwinding of cross-shareholding in Japan : causes, effects, and implications by Hideaki Miyajima and Fumiaki Kuroki		79
4		Foreign investors and corporate governance in Japan by Christina Ahmadjian		125
5		Venture capital and its governance : the emergence of equity financing conduits in Japan by Nobuyuki Hata and Haruhiko Ando and Yoshiaki Ishii		151
6		Corporate governance in financial distress : the new role of bankruptcy by Peng Xu		179
7		The rise of bank-related corporate revival funds by Noriyuki Yanagawa		205
Pt. II		Changes in organization, employment, and corporate boards
8		Business portfolio restructuring of Japanese firms in the 1990s : entry and exit analysis by Tatsuya Kikutani and Hideshi Itoh and Osamu Hayashida		227
9		Corporate finance and human resource management in Japan by Masahiro Abe and Takeo Hoshi		257
10		Employment adjustment and distributional conflict in Japanese firms by Gregory Jackson		282
11		The turnaround of 1997 : changes in Japanese corporate law and governance by Zenichi Shishido		310
12		The performance effects and determinants of corporate governance reform by Hideaki Miyajima		330
13		Insider management and board reform : for whose benefit? by Ronald Dore		370
Pt. III		Diversity and institutional change
14		Organizational diversity and institutional change : evidence from financial and labor markets in Japan by Mari Sako		399
15		Conclusion : whither Japan's corporate governance? by Masahiko Aoki		427

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