Introduction: The Diversity and Change of Corporate Governance in Japan 1

Gregory Jackson, Hideaki Miyajima

Research output: Chapter in Book/Report/Conference proceedingForeword/postscript

52 Citations (Scopus)

Abstract

The introductory chapter gives a comprehensive overview of the crisis and transformation of corporate governance in Japan since the mid-1990s. Drawing on the main empirical findings of the book, these changes are examined in relation to three areas: corporate ownership and finance, patterns of corporate organization and employment, and changes in the legal and governance role of the board of directors. Based on data from a Japanese Ministry of Finance survey, a summary typology of corporate governance practices in Japanese firms is developed that identifies three major clusters or types: firms with traditional Japanese-style practices, firms with hybrid practices combining market-oriented finance and governance with relationship-oriented employment, and firms with 'inverse' hybrid practices that combine relationship-oriented finance and governance with market-oriented employment. The implications of this growing diversity in organizational practices are discussed in relation to institutional change and the viability of a new Japanese-style model of corporate governance in the future.

Original languageEnglish
Title of host publicationCorporate Governance in Japan
Subtitle of host publicationInstitutional Change and Organizational Diversity
PublisherOxford University Press
ISBN (Electronic)9780191713705
ISBN (Print)9780199284511
DOIs
Publication statusPublished - 2007 Sep 1

Keywords

  • Board of directors
  • Corporate finance
  • Corporate organization
  • Corporate ownership
  • Institutional change
  • Japanese economy

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

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  • Cite this

    Jackson, G., & Miyajima, H. (2007). Introduction: The Diversity and Change of Corporate Governance in Japan 1. In Corporate Governance in Japan: Institutional Change and Organizational Diversity Oxford University Press. https://doi.org/10.1093/acprof:oso/9780199284511.003.0001