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Continuity and Change in Corporate Governance: comparing Germany and Japan

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  • Gregory Jackson
  • Andreas Moerke

Abstract

Germany and Japan are often seen deviating from an economic model of shareholder control and thereby as being similar by virtue of their mutual contrast with the US. Given the common challenges for bank‐based and stakeholder‐oriented models of corporate governance, Germany–Japan comparison seems particularly timely. This article provides an introductory overview and analysis for the Special Issue by comparing recent developments in corporate law reform, banking and finance, and employment in Germany and Japan. While rejecting arguments for international convergence, we discuss this evidence of simultaneous continuity and change in corporate governance as a potential form of hybridisation of national models or renegotiation of stakeholder coalitions in German and Japanese firms. One consequence is the growing diversity of firm‐level corporate governance practices within national systems.

Suggested Citation

  • Gregory Jackson & Andreas Moerke, 2005. "Continuity and Change in Corporate Governance: comparing Germany and Japan," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(3), pages 351-361, May.
    • Handle: RePEc:bla:corgov:v:13:y:2005:i:3:p:351-361
    DOI: 10.1111/j.1467-8683.2005.00429.x
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    References listed on IDEAS

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    1. Christel Lane, 2003. "Changes in corporate governance of German corporations: convergence to the Anglo-American model?," Working Papers wp259, Centre for Business Research, University of Cambridge.
    2. Dore, Ronald, 2000. "Stock Market Capitalism: Welfare Capitalism: Japan and Germany versus the Anglo-Saxons," OUP Catalogue, Oxford University Press, number 9780199240616.
    3. Höpner, Martin & Jackson, Gregory, 2001. "An emerging market for corporate control? The Mannesmann takeover and German corporate governance," MPIfG Discussion Paper 01/4, Max Planck Institute for the Study of Societies.
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