Reconsidering The Importance Of Law In Japanese Corporate Governance
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Reconsidering The Importance Of Law In Japanese Corporate Governance
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Author : Bruce E. Aronson
language : en
Publisher:
Release Date : 2008
Reconsidering The Importance Of Law In Japanese Corporate Governance written by Bruce E. Aronson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
This article contributes to a reassessment of the role of law in Japanese corporate governance by focusing on the landmark Daiwa Bank shareholder derivative case. In September 2000 the Osaka district court ordered 11 current and former directors of Daiwa Bank to pay a record $775 million in damages in two cases related to the bank's well-known trading loss scandal of 1995. The court's ruling dismissed the bank's informal consultations with the government and emphasized the legal fiduciary duties of board members. The resulting "Daiwa shock" had a far-reaching effect in Japan similar to the combined impact in the U.S. of the leading Delaware cases of Van Gorkom and Caremark. The aftermath includes important substantive legal doctrine, a seemingly more activist role for courts, the increased importance of preventive legal advice, a breakdown in the market for directors' liability insurance and new legislation to limit directors' liability and address issues of corporate governance. Despite the attention-grabbing drama of the Daiwa case, this study finds important antecedents to the Daiwa decision and its aftermath. It views the court's decision as accelerating and expanding a poorly recognized underlying trend in the 1990's which saw a gradually increasing role for the formal legal system in Japanese corporate governance. It also suggests that the literature on convergence theory, with its utilization of simplified, static models of corporate governance, may be of less value in understanding the process of change in Japan than traditional notions of legal borrowing. It concludes that the popular model of Japanese corporate governance, with its assumption of a strong Japanese preference for informality over law, must be reconsidered in order to account for the increasing importance of the role of law in Japanese corporate governance.
Reconsideration Of Corporate Governance In Japan
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Author : Sawako Kudo
language : en
Publisher:
Release Date : 2012
Reconsideration Of Corporate Governance In Japan written by Sawako Kudo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
Corporate Governance And Managerial Reform In Japan
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Author : D. Hugh Whittaker
language : en
Publisher: OUP Oxford
Release Date : 2009-10-29
Corporate Governance And Managerial Reform In Japan written by D. Hugh Whittaker and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-10-29 with Business & Economics categories.
Japanese corporate governance and managerial practice is at a critical juncture. At the start of the decade pressures mounted for Japan to move to a shareholder-value driven, 'Anglo-American' system of corporate governance. Subsequent changes, however, may be seen as an adjustment and renewal of the post-war model of the Japanese firm. In adapting to global corporate governance standards, Japanese managers have also been reshaping them according to their own agenda of reform and restructuring of decision-making processes. The board's role is seen in terms of strategic planning rather than monitoring, and external directors are viewed as advisers, not as representatives of the shareholders. Managers have adopted a variety of defences against hostile takeovers, including poison pills in some cases. Although shareholder influence is more extensive than it was, central aspects of the Japanese 'community firm' remain in place. The commitment to stable or 'lifetime' employment for a core of employees, although coming under severe pressure, is still an important point of reference for Japanese management. Corporate Governance and Managerial Reform in Japan is based on detailed and intensive field work in large Japanese companies and interviews with investors, civil servants, and policy makers in the period following the adoption of significant corporate law reforms in the early 2000s up to the months just before the global financial crisis of 2008. The Japanese experience suggests that there are limits to the global convergence of company law systems, and that the widespread association of Anglo-American practices with the 'modernization' of corporate governance has been misplaced. This conclusion is unlikely to be altered - it may be reinforced - by reactions to the financial crisis.
The Rule Of Law In Japan
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Author : Carl F. Goodman
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2017-04-01
The Rule Of Law In Japan written by Carl F. Goodman and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-01 with Law categories.
Practitioners who deal with Japanese law have put great store by earlier editions of this major work, which systematically compares United States (US) law and Japanese law across all the major fields of legal practice. This fourth revised edition updates the work with the continuing dramatic changes in Japan’s legal system, including changes in criminal trials, disclosures to defense counsel of evidence to be used by the prosecution, the increasing use of recordings of interrogation sessions, and the impact of the indigenous movement for judicial reform. All chapters have been updated. In the fourth revised edition, which follows the same comparative structure as formerly, author Carl Goodman ̄ an internationally known authority with extensive experience in international practice, university teaching in both Japan and the US, and US government service — takes expert stock of new developments, including the following: • the Cabinet’s Declaration reinterpreting the Renunciation of War Clause in the Constitution and legislation following such reinterpretation; • interpretation of new rules for international jurisdiction of Japanese courts, including the new law’s effect on mirror image lawsuits filed in Japan; • the Supreme Court’s rulings dealing with the presumption of paternity, the waiting period for remarriage after divorce, and inheritance rights of “out of wedlock children”; • international and domestic Japanese child custody; • unanticipated consequences of criminal trials before the new mixed lay/professional panels; • debate concerning the Emperor’s announcement of his desired abdication; and • an update of Japan’s experiment with new graduate legal faculties. Although the alteration of the legal landscape in Japan is highly visible, the author does not hesitate to raise questions as to how far-reaching the changes really are. In almost every branch of the new Japanese legal practice he uncovers ways in which laws and judicial rulings are closely qualified and are likely to present challenges in any given case. He reminds the reader in each chapter that “what you see may not be what you get”. For this reason, and for its comprehensive coverage, this new edition is sure to gain new adherents as the best-informed practical guide for non-Japanese lawyers with dealings in Japan.
Corporate Governance In The 21st Century
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Author : Luke Nottage
language : en
Publisher: Edward Elgar Publishing
Release Date : 2009-01-01
Corporate Governance In The 21st Century written by Luke Nottage and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Business & Economics categories.
Corporate Governance in the 21st Century is a very useful addition to the literature on corporate governance in Japan. It is worth reading simply because it updates many of the ongoing issues such as adoptions of takeover defenses, appointments of independent directors, and increases in foreign direct investment. It is also useful because it examines corporate governance from the perspectives of business as well as law. Furthermore, it provides the beginnings of a framework through which to understand the process of gradual transformation. Christina L. Ahmadjian, Journal of Japanese Studies An invaluable set of resources for everyone with an interest in corporate governance in Japan. Covering both basic information and recent developments, the collection provides readers with an excellent survey of the complexity of modern corporate governance and its legal setting. . . in Japan. Hideki Kanda, University of Tokyo, Japan The essays in this collection approach Japanese corporate governance in the 2000s from a variety of novel perspectives novel in terms of subject matter, methodology, and points of comparison. The result is a comprehensive portrait of the current dynamics of change and stasis in the institutional environment for Japanese firms. Curtis Milhaupt, Columbia Law School, US 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. The book brings together contributions from academics and practitioners from Japan, Australia, New Zealand, Canada and the United States. It includes chapters on comparative corporate governance theory and methodology, lifelong employment, the main bank system, board structures, and governance issues in small and medium-sized enterprises. The procedural, substantive and FDI policy dimensions of takeover law and practice are discussed, as well as empirical changes to corporate governance practices in large, publicly listed companies during the past twenty years. The authors rich mix of national, disciplinary and professional backgrounds allows for a broad comparative perspective on developments in Japanese corporate governance. The book will be of great interest to scholars and students of law, business, political economy and Japanese studies, and will also appeal to corporate lawyers and policymakers.
Corporate Governance In Japan
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Author : Masahiko Aoki
language : en
Publisher: OUP Oxford
Release Date : 2007-09-06
Corporate Governance In Japan written by Masahiko Aoki and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-09-06 with Business & Economics categories.
Debates regarding corporate governance have become increasingly important in Japan as the post-war model of bank-based, stakeholder-oriented corporate governance faces the new pressures associated with globalization and growing investor demands for shareholder value. Bringing together a group of leading scholars from economics, law, sociology and management studies, this book looks at how the Japanese approach to corporate governance and the firm have changed in the post-bubble era. The contributions offer a unique empirical exploration of why and how Japanese firms are reshaping their corporate governance arrangements, leading to greater diversity among firms and new 'hybrid' forms of corporate governance. The book concludes by looking at what effect these incremental but transformative changes may have on Japan's distinctive variety of capitalism.
Transforming Corporate Governance In East Asia
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Author : Curtis Milhaupt
language : en
Publisher: Routledge
Release Date : 2008-06-18
Transforming Corporate Governance In East Asia written by Curtis Milhaupt and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-06-18 with Business & Economics categories.
Pt. 1. Japan -- pt. 2. Korea -- pt. 3. Greater China (the Mainland and Taiwan) -- pt. 4. Analysis and commentary.
Corporate Governance In Japan
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Author : N. Demise
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-11-22
Corporate Governance In Japan written by N. Demise and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-11-22 with Business & Economics categories.
This book is the result of an international comparative study of corporate governance begun in 2002, and provides analysis of the issue as it applies to management, moral hazards, accounting practices, and the institutional investor from both a Japanese and a global perspective. The study presents a view of the company as an entity that not only maximizes profit for stockholders but that also has a social role to play in maintaining a sustainable society.
Routledge Handbook Of Japanese Business And Management
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Author : Parissa Haghirian
language : en
Publisher: Routledge
Release Date : 2016-01-29
Routledge Handbook Of Japanese Business And Management written by Parissa Haghirian and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-29 with Business & Economics categories.
The Routledge Handbook of Japanese Business and Management provides a comprehensive overview of management and business processes and practices in Japanese companies. The contributors combine theoretical findings and research results with a practical and contemporary view on how corporations and firms are managed in Japan. The handbook is divided into eight sections covering: historical perspectives on Japanese management; structure and theory of the Japanese firm; the corporate environment in Japan; the Japanese work environment; the Japanese market; manufacturing and logistics; interaction and communication; the future of Japanese management. This book is an essential reference resource for students and scholars working on Japanese companies, the Japanese market-place, Japanese consumers, or management processes in the Japanese firm. The book also provides an interesting and informative read for managers who need to deepen their knowledge on Japanese business processes.
Business Law In Japan
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Author : Christopher Heath
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2012-04-12
Business Law In Japan written by Christopher Heath and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-12 with Law categories.
Compilations of cases with commentary – in Japanese Hanrei Hyakusen – often provide the most practical way to obtain a quick and reliable understanding of a specific field of law, as well as guidance on how best to proceed in specific situations. In this respect, leading cases much more than statutory provisions are essential for understanding the reality of Japanese commercial law. This incomparable book compiles 72 of the most important commercially relevant Japanese court decisions in the fields of civil law, labour law, company law, financial transactions, intellectual property, antitrust, conflict of laws, and arbitration. Each decision is presented in English translation and is accompanied by a practical and explanatory commentary by an expert in the field, be it from academia or private practice. There are 50 commentators in all, brought together here to honour the 60th birthday of Harald Baum, widely regarded as one of the world’s foremost scholars on Japanese business law. The cases encompass a wide reach of causes of action in fields such as: breach of contract; tort liability; product liability; unjust enrichment; collective bargaining; shareholders’ rights; directors’ duty of care; political donations; insider trading; patent infringement; parallel imports; trade mark rights; unfair competition; publicity rights; price fixing; arbitration agreements; and recognition of foreign judgements. Whether serving as practical guidance or as a basis for academic research, this compilation will be warmly welcomed by practicing lawyers, teachers and students of Japanese and international law, and all others who need to understand the various fields of Japanese commercial law.