Holding Company and Bank: An Historical Comparative Perspective on Corporate Governance in Japan
AbstractIn this paper I describe the outline of the historical evolution of corporate governance in Japan, and intend to derive some insights on its future. While two alternative systems, the holding company-based system and the bank-based system were available in the 1920s, the former started to proliferate. However, the experiences during the Second World War made the corporate system choose the other fork in the road, the bank-based system. The changes in employment system and production management were complementary with the changes in corporate governance and finance. The Japanese corporate system, which was faced with a bifurcation in the 1920s and the 1930s, is now facing another bifurcation.
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Bibliographic InfoPaper provided by CIRJE, Faculty of Economics, University of Tokyo in its series CIRJE F-Series with number CIRJE-F-310.
Length: 17 pages
Date of creation: Dec 2004
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ACC-2004-12-20 (Accounting & Auditing)
- NEP-ALL-2004-12-20 (All new papers)
- NEP-CFN-2004-12-20 (Corporate Finance)
- NEP-FIN-2004-12-20 (Finance)
- NEP-HIS-2004-12-20 (Business, Economic & Financial History)
- NEP-SEA-2004-12-20 (South East Asia)
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- Luke Nottage, 2006. "Nothing New in the (North) East? Interpreting the Rhetoric and Reality of Japanese Corporate Governance," Governance Working Papers 21819, East Asian Bureau of Economic Research.
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