The Evolution of Corporate Governance in Japan

Regulatory Changes, Global Financialization, and Corporate Performance
1. Auflage 2025
ISBN: 978-1-032-91290-5
Verlag: Taylor & Francis Ltd

Buch, Englisch, 328 Seiten, Format (B × H): 156 mm x 234 mm, Gewicht: 453 g

Reihe: Routledge Studies in Corporate Governance

By examining several key variables concerning corporate governance, Miyajima and Arikawa examine the evolutionary process of corporate governance arrangements in Japan from the 2000s to the early 2020s.

Japanese corporate governance has become more market-oriented and this book illustrates the impact of the change on corporate behavior, such as physical and R&D investments, business diversification and restructuring, information disclosure and corporate misconduct. This volume looks at how Japanese firms have evolved from cross-shareholding between firms and banks to a more shareholder-oriented system, with an expanding role for outside directors and, more importantly, large holdings by institutional shareholders (including activist and buyout funds). This notion of hybridization, which is one of the key concepts of this book, enhances the understanding of the evolution of corporate governance in Japan. As financial markets continue to globalize and institutional shareholders gain influence, firms in in civil law jurisdictions or coordinated market economies may find the book’s discussion of hybridization of interest.

An essential read for scholars in finance, management and organization as well as market participants and lawyers who wish to understand the current Japanese economy from a practical perspective.

Zielgruppe

Postgraduate

Autoren/Hrsg.

Miyajima, Hideaki

Arikawa, Yasuhiro

Fachgebiete

• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensorganisation, Corporate Responsibility Unternehmenskultur, Corporate Governance
• Wirtschaftswissenschaften Wirtschaftswissenschaften Unternehmensgeschichte, Einzelne Branchen und Unternehmer
• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft Wirtschaftliche Globalisierung

Über Autor(innen)

Hideaki Miyajima is a Professor at Faculty of Commerce, Waseda University, Faculty Fellow at RIETI, His work appeared in Review of Financial Studies, Journal of Banking and Finance. He published several edited volumes such as Corporate Governance in Japan, Oxford University Press.

Yasuhiro Arikawa is an Associate Professor at Waseda Business School, Waseda University. His research has been published in academic journals such as the Journal of Banking and Finance and the Journal of Economic Behavior and Organization.