Corporate Governance in Japan: Institutional Change and Organizational Diversity

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.

Masahiko Aoki is the Henri and Tomoye Takahashi Professor Emeritus of Japanese Studies, Senior Fellow of Stanford Institute of Economic Policy Research (SIEPR), and Senior Fellow of Freeman Spogli Institute for International Studies (FSI) at Stanford University. He is President-Elect of the International Economic Association and was a former President of the Japanese Economic Association. He was awarded the Japan Academy Prize in 1990, and in 1998 he was awarded the 6th International Schumpeter Prize. Gregory Jackson is Senior Lecturer in Strategy and Comparative Management at King's College London. He graduated from the University of Wisconsin-Madison, received his Ph.D. in Sociology from Columbia University and was formerly a Research Fellow at the Max-Planck-Institute for the Study of Societies in Cologne, Germany (1996-2002). He was also a Fellow at the Research Institute of Economy, Trade and Industry (RIETI) (2002-2004). Hideaki Miyajima is Professor at the School of Commerce and Vice Director of the Institute of Finance at Waseda University. He is also faculty fellow of Research Institute of Economy, Trade and Industry (RIETI), a special research fellow of Policy Research Institute (Ministry of Finance), and adjunct professor of Chung-Ang University (Seoul). He was a Research Associate at the Institute of Social Sciences, Tokyo University before moving to Waseda University. He studied as graduate student at Tokyo University and received his Ph.D. in Commerce from Waseda University.