Corporate Governance in Japan: Past Performance and Future Prospects
AbstractMuch has been written about the Japanese "model" of corporate governance. Indeed, Japanese-style corporate governance has been described as an efficient alternative to corporate governance mechanisms available in the West, and as a model for developing economies. As opposed to American-style corporate governance, in which hostile takeovers and managerial incentive schemes play a major role, Japanese firms have traditionally relied on monitoring by large shareholders and banks. This article describes the evolution of corporate governance in Japan since the Second World War, and surveys the empirical evidence on its performance. Although there is substantial evidence on the effectiveness of the Japanese system, there is also evidence on its significant shortcomings. The article also evaluates the effects of the current macroeconomic and banking crises on corporate governance in Japan, and suggests possible directions for future changes, which are likely to make Japan more similar to the USA in this respect. Copyright 2000 by Oxford University Press.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Review of Economic Policy.
Volume (Year): 16 (2000)
Issue (Month): 2 (Summer)
Contact details of provider:
Web page: http://oxrep.oupjournals.org/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Panayotis Kapopoulos & Sophia Lazaretou, 2009.
"Does corporate ownership structure matter for economic growth? A cross-country analysis,"
Managerial and Decision Economics,
John Wiley & Sons, Ltd., vol. 30(3), pages 155-172.
- Panayotis Kapopoulos & Sophia Lazaretou, 2005. "Does Corporate Ownership Structure Matter for Economic Growth? A Cross-Country Analysis," Working Papers 21, Bank of Greece.
- Chan-Lau, Jorge A., 2002.
"Corporate restructuring in Japan: an event-study analysis,"
Japan and the World Economy,
Elsevier, vol. 14(4), pages 367-377, December.
- Jorge A. Chan-Lau, 2001. "Corporate Restructuring in Japan: An Event-Study Analysis," IMF Working Papers 01/202, International Monetary Fund.
- Kazuki Onji, 2008.
"The Response of Firms to Eligibility Thresholds : Evidence from the Japanese Value-Added Tax,"
Finance Working Papers
21965, East Asian Bureau of Economic Research.
- Onji, Kazuki, 2009. "The response of firms to eligibility thresholds: Evidence from the Japanese value-added tax," Journal of Public Economics, Elsevier, vol. 93(5-6), pages 766-775, June.
- Kazuki Onji, 2008. "The Response of Firms to Eligibility Thresholds: Evidence from the Japanese Value-Added Tax," Asia Pacific Economic Papers 370, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
- Branston, J. Robert & Cowling, Keith & Sugden, Roger, 2002. "Corporate Governance And The Public Interest," The Warwick Economics Research Paper Series (TWERPS) 626, University of Warwick, Department of Economics.
- Miyajima Hideaki & Kuroki Fumiaki, 2005. "The Unwinding of Cross-shareholding: Causes, Effects, and Implications," Discussion papers 05006, Research Institute of Economy, Trade and Industry (RIETI).
- Yener Altunbaş & Alper Kara & Adrian van Rixtel, 2007. "Corporate governance and corporate ownership: The investment behaviour of Japanese institutional investors," Banco de Espaï¿½a Occasional Papers 0703, Banco de Espa�a.
- Sandra Dow & Jean McGuire & Toru Yoshikawa, 2011. "Disaggregating the group effect: Vertical and horizontal keiretsu in changing economic times," Asia Pacific Journal of Management, Springer, vol. 28(2), pages 299-323, June.
- Jean McGuire & Sandra Dow, 2009. "Japanese keiretsu: Past, present, future," Asia Pacific Journal of Management, Springer, vol. 26(2), pages 333-351, June.
- Yishay Yafeh, 2002. "An International Perspective of Japan's Corporate Groups and their Prospects," NBER Working Papers 9386, National Bureau of Economic Research, Inc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.