Corporate Governance and Corporate Behavior in Japan

Corporate Governance and Corporate Behavior in Japan
Author :
Publisher : Springer
Total Pages : 94
Release :
ISBN-10 : 9784431560067
ISBN-13 : 4431560068
Rating : 4/5 (068 Downloads)

Book Synopsis Corporate Governance and Corporate Behavior in Japan by : Masaharu Hanazaki

Download or read book Corporate Governance and Corporate Behavior in Japan written by Masaharu Hanazaki and published by Springer. This book was released on 2016-07-28 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book carefully examines the effects of changes in the corporate governance structure on corporate behavior or company performance, using micro-data from listed companies in Japan. The author found that in Japan the introduction of stock options had neither a positive impact on profitability nor the negative side effects of promoting risk-taking behaviors. Furthermore, he found that corporate diversification and division of corporations showed negative impacts on profitability. The corporate governance structure of Japan has exhibited a large change from the second half of the 1990s to the present. There have been institutional reforms involving enterprise law, such as the introduction of stock options and the removal of the ban on holding companies. With respect to the ownership structure of a company, discernible trends are that the equity holdings of financial institutions and business corporations have fallen while the presence of foreign stockholders has risen. These trends are often pointed out as signs that the Japanese corporate governance structure has been approaching the American model and that this will energize Japanese firms. The author contradicts common academic theories, however, and concludes that the formation of the corporate governance which emphasizes the agency problem between shareholders and corporate managers is inadequate. He suggests that an institutional arrangement for a corporate governance system that values a variety of stakeholders' interests is greatly needed and concludes that perspectives on maximizing surplus values for various stakeholders and distributing the surpluses appropriately among the stakeholders will become increasingly important for the purpose of managing corporations.


Corporate Governance and Corporate Behavior in Japan Related Books

Corporate Governance and Corporate Behavior in Japan
Language: en
Pages: 94
Authors: Masaharu Hanazaki
Categories: Business & Economics
Type: BOOK - Published: 2016-07-28 - Publisher: Springer

DOWNLOAD EBOOK

This book carefully examines the effects of changes in the corporate governance structure on corporate behavior or company performance, using micro-data from li
The Concept of the Corporation
Language: en
Pages: 262
Authors: Peter Ferdinand Drucker
Categories: Business & Economics
Type: BOOK - Published: 1964 - Publisher: Signet Book

DOWNLOAD EBOOK

Corporate Governance in Japan
Language: en
Pages: 480
Authors: Masahiko Aoki
Categories: Business & Economics
Type: BOOK - Published: 2007-09-06 - Publisher: OUP Oxford

DOWNLOAD EBOOK

Debates regarding corporate governance have become increasingly important in Japan as the post-war model of bank-based, stakeholder-oriented corporate governanc
The Embedded Corporation
Language: en
Pages: 235
Authors: Sanford M. Jacoby
Categories: Business & Economics
Type: BOOK - Published: 2007-07-22 - Publisher: Princeton University Press

DOWNLOAD EBOOK

The author traces the enduring diversity of corporate culture in Japan and the U.S. to national differences in economic history and social norms, and, paradoxic
International Perspectives on Accounting and Corporate Behavior
Language: en
Pages: 337
Authors: Kunio Ito
Categories: Business & Economics
Type: BOOK - Published: 2014-07-08 - Publisher: Springer

DOWNLOAD EBOOK

Despite the globalization of accounting standards occurring through convergence to International Financial Reporting Standards, local accounting systems are dee