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Shareholder capitalism comes to Japan

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  • Ronald Dore

Abstract

The current debate about corporate governance in Japan revolves around two axes. First, the nationalist axis sets the desirability of introducing changes seen as conforming to global (i.e., American) standards against the desirability of preserving valuable elements of Japanese tradition. Second,the class axis, which is about framing the law to give pre-eminent consideration to the interests of owners vis-à-visthe retention of substantial rights for employees. In the former dimension, Enron and World Com have led to some reversal of Americanising trends, but the shift in institutions and establishment ideology on the second dimension has been, and continues to be, one way – emphasising the power and interests of shareholders. It is no exaggeration to say that a quiet shareholder revolution has taken place in Japan.

Suggested Citation

  • Ronald Dore, 2007. "Shareholder capitalism comes to Japan," The Other Canon Foundation and Tallinn University of Technology Working Papers in Technology Governance and Economic Dynamics 11, TUT Ragnar Nurkse School of Innovation and Governance.
  • Handle: RePEc:tth:wpaper:11
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    1. J. Finger, 1977. "Offshore assembly provisions in the West German and Netherlands Tariffs: Trade and domestic effects," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 113(2), pages 237-249, June.
    2. Finger, J M, 1975. "Tariff Provisions for Offshore Assembly and the Exports of Developing Countries," Economic Journal, Royal Economic Society, vol. 85(338), pages 365-371, June.
    3. Hirschman,Albert O., 1981. "Essays in Trespassing," Cambridge Books, Cambridge University Press, number 9780521282437, March.
    4. Ginzburg, Andrea & Simonazzi, Annamaria, 2005. "Patterns of industrialization and the flying geese model: the case of electronics in East Asia," Journal of Asian Economics, Elsevier, vol. 15(6), pages 1051-1078, January.
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