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Change and continuity in Japanese corporate governance

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  • Toru Yoshikawa

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  • Jean McGuire

    ()

Abstract

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Suggested Citation

  • Toru Yoshikawa & Jean McGuire, 2008. "Change and continuity in Japanese corporate governance," Asia Pacific Journal of Management, Springer, vol. 25(1), pages 5-24, January.
  • Handle: RePEc:kap:asiapa:v:25:y:2008:i:1:p:5-24
    DOI: 10.1007/s10490-007-9064-1
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    References listed on IDEAS

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    1. Jeroen Weimer & Joost Pape, 1999. "A Taxonomy of Systems of Corporate Governance," Corporate Governance: An International Review, Wiley Blackwell, vol. 7(2), pages 152-166, April.
    2. H. Yeung, 2006. "Change and Continuity in Southeast Asian Ethnic Chinese Business," Asia Pacific Journal of Management, Springer, vol. 23(3), pages 229-254, September.
    3. Kaplan, Steven N. & Minton, Bernadette A., 1994. "Appointments of outsiders to Japanese boards: Determinants and implications for managers," Journal of Financial Economics, Elsevier, vol. 36(2), pages 225-258, October.
    4. Takehiko Isobe & Shige Makino & Anthony Goerzen, 2006. "Japanese horizontal keiretsu and the performance implications of membership," Asia Pacific Journal of Management, Springer, vol. 23(4), pages 453-466, December.
    5. Takeo Hoshi & Anil Kashyap & David Scharfstein, 1991. "Corporate Structure, Liquidity, and Investment: Evidence from Japanese Industrial Groups," The Quarterly Journal of Economics, Oxford University Press, vol. 106(1), pages 33-60.
    6. Weinstein, David E & Yafeh, Yishay, 1995. "Japan's Corporate Groups: Collusion or Competitive? An Empirical Investigation of Keiretsu Behavior," Journal of Industrial Economics, Wiley Blackwell, vol. 43(4), pages 359-376, December.
    7. 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.
    8. Megumi Suto & Masashi Toshino, 2005. "Behavioural Biases of Japanese Institutional Investors: fund management and corporate governance," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(4), pages 466-477, July.
    9. Kato, Takao, 1997. "Chief executive compensation and corporate groups in Japan: New evidence from micro data," International Journal of Industrial Organization, Elsevier, vol. 15(4), pages 455-467, July.
    10. Abe, Naohito & Gaston, Noel & Kubo, Katsuyuki, 2005. "Executive pay in Japan: the role of bank-appointed monitors and the Main Bank relationship," Japan and the World Economy, Elsevier, vol. 17(3), pages 371-394, August.
    11. David E. Weinstein & Yishay Yafeh, 1998. "On the Costs of a Bank-Centered Financial System: Evidence from the Changing Main Bank Relations in Japan," Journal of Finance, American Finance Association, vol. 53(2), pages 635-672, April.
    12. Prowse, Stephen D., 1990. "Institutional investment patterns and corporate financial behavior in the United States and Japan," Journal of Financial Economics, Elsevier, vol. 27(1), pages 43-66, September.
    13. Kevin Keasey & Steve Thompson & Mike Wright (ed.), 1999. "Corporate Governance," Books, Edward Elgar Publishing, volume 0, number 1708.
    14. Kato, Takao & Kubo, Katsuyuki, 2006. "CEO compensation and firm performance in Japan: Evidence from new panel data on individual CEO pay," Journal of the Japanese and International Economies, Elsevier, vol. 20(1), pages 1-19, March.
    15. Yasuhiro Arikawa & Hideaki Miyajima, 2005. "Relationship Banking and Debt Choice: evidence from Japan," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(3), pages 408-418, May.
    16. Katsuyuki Kubo, 2005. "Executive Compensation Policy and Company Performance in Japan," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(3), pages 429-436, May.
    17. Takaya Seki, 2005. "Legal Reform and Shareholder Activism by Institutional Investors in Japan," Corporate Governance: An International Review, Wiley Blackwell, vol. 13(3), pages 377-385, May.
    18. Kang, Jun-Koo & Shivdasani, Anil, 1997. "Corporate restructuring during performance declines in Japan," Journal of Financial Economics, Elsevier, vol. 46(1), pages 29-65, October.
    19. Yoshikawa, Toru & Phan, Phillip H., 2003. "The Performance Implications of Ownership-driven Governance Reform," European Management Journal, Elsevier, vol. 21(6), pages 698-706, December.
    20. Sheard, Paul, 1989. "The main bank system and corporate monitoring and control in Japan," Journal of Economic Behavior & Organization, Elsevier, vol. 11(3), pages 399-422, May.
    21. Prowse, Stephen D, 1992. " The Structure of Corporate Ownership in Japan," Journal of Finance, American Finance Association, vol. 47(3), pages 1121-1140, July.
    22. Randall Morck & Masao Nakamura, 1999. "Banks and Corporate Control in Japan," Journal of Finance, American Finance Association, vol. 54(1), pages 319-339, February.
    23. Vives,Xavier (ed.), 2000. "Corporate Governance," Cambridge Books, Cambridge University Press, number 9780521781640, May.
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    Citations

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    Cited by:

    1. Lee, Keonbeom & Peng, Mike W. & Lee, Keun, 2008. "From diversification premium to diversification discount during institutional transitions," Journal of World Business, Elsevier, vol. 43(1), pages 47-65, January.
    2. Amna Obeid & Sheela Devi Sundarasen, 2017. "Board Structure and Performance of Government-linked and Non-government-linked Companies: A Comparative Study of Selected Listed Companies’ in Malaysia, India and Singapore," International Journal of Economics and Financial Issues, Econjournals, vol. 7(1), pages 442-447.
    3. W. R. Garside, 2012. "Japan’s Great Stagnation," Books, Edward Elgar Publishing, number 14624.
    4. Bing Ren & Kevin Au & Thomas Birtch, 2009. "China’s business network structure during institutional transitions," Asia Pacific Journal of Management, Springer, vol. 26(2), pages 219-240, June.
    5. Keishi Fujiyama & Makoto Kuroki, 2017. "Employee Downsizing and Accounting Choices: Evidence from Japan," Discussion Paper Series DP2017-06, Research Institute for Economics & Business Administration, Kobe University, revised Sep 2017.
    6. Ruth V. Aguilera & Kurt A. Desender & Mónica López-Puertas Lamy & Jun Ho Lee, 2017. "The governance impact of a changing investor landscape," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 48(2), pages 195-221, February.
    7. Chernobai, Anna & Yasuda, Yukihiro, 2013. "Disclosures of material weaknesses by Japanese firms after the passage of the 2006 Financial Instruments and Exchange Law," Journal of Banking & Finance, Elsevier, vol. 37(5), pages 1524-1542.
    8. Steven Globerman & Mike Peng & Daniel Shapiro, 2011. "Corporate governance and Asian companies," Asia Pacific Journal of Management, Springer, vol. 28(1), pages 1-14, March.
    9. James, Barclay E. & McGuire, Jean B., 2016. "Transactional-institutional fit: Corporate governance of R&D investment in different institutional contexts," Journal of Business Research, Elsevier, vol. 69(9), pages 3478-3486.
    10. Masao Nakamura, 2011. "Adoption and policy implications of Japan’s new corporate governance practices after the reform," Asia Pacific Journal of Management, Springer, vol. 28(1), pages 187-213, March.
    11. Helen Hu & On Tam & Monica Tan, 2010. "Internal governance mechanisms and firm performance in China," Asia Pacific Journal of Management, Springer, vol. 27(4), pages 727-749, December.
    12. John Buchanan & Dominic Heesang Chai & Simon Deakin, 2013. "Agency Theory in Practice: A Qualitative Study of Hedge Fund Activism in Japan," Working Papers wp448, Centre for Business Research, University of Cambridge.
    13. Asli Colpan, 2008. "Are strategy-performance relationships contingent on macroeconomic environments? Evidence from Japan’s textile industry," Asia Pacific Journal of Management, Springer, vol. 25(4), pages 635-665, December.

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