Corporate governance in the 21st century
Subtitle: Japan's gradual transformation
By: edited by Luke Nottage, Leon Wolff, Kent Anderson.
Contributors: Nottage, Luke.; Wolff, Leon, 1969-; Anderson, Kent.
Series: Corporations, globalisation, and the law; Corporations, globalisation, and the law
Publisher: Edward Elgar; Brand: Edward Elgar Pub; Edward Elgar Pub
Published: 2008
Place of publication: Cheltenham, UK; Northampton, MA
Language: eng
Number of pages: 288
ISBN-13: 9781847209238
Subjects: Corporate governance -- Law and legislation -- Japan; Corporate governance -- Japan
Other titles: Corporate governance in the twenty-first century
Description: The 'lost decade' of economic stagnation in Japan during the 1990s has become a 'found decade' for regulatory and institutional reform. Nowhere is this more evident than in corporate law. In 2005, for example, a spate of reforms to the Commercial Code culminated in the new Company Act, a statute promising greater organisational flexibility and shareholder empowerment for Japanese corporations competing in a more globalised economy. But does this new law herald a more 'Americanised' system of corporate governance? Has Japan embraced shareholder primacy over its traditional loyalty to other key stakeholders such as 'main banks', core employees, and partners within diffuse corporate (keiretsu) groups? This book argues that a more complex 'gradual transformation' is unfolding in Japan - a process evident in many other post-industrial economies.
Notes: Includes bibliographical references (p. 246-278) and index.