Holding Company and Bank: An Historical Comparative Perspective on Corporate Governance in Japan

Tetsuji Okazaki

No CIRJE-F-310, CIRJE F-Series from CIRJE, Faculty of Economics, University of Tokyo

Abstract: In this paper I describe the outline of the historical evolution of corporate governance in Japan, and intend to derive some insights on its future. While two alternative systems, the holding company-based system and the bank-based system were available in the 1920s, the former started to proliferate. However, the experiences during the Second World War made the corporate system choose the other fork in the road, the bank-based system. The changes in employment system and production management were complementary with the changes in corporate governance and finance. The Japanese corporate system, which was faced with a bifurcation in the 1920s and the 1930s, is now facing another bifurcation.

Pages: 17 pages
Date: 2004-12
New Economics Papers: this item is included in nep-acc, nep-cfn, nep-fin, nep-his and nep-sea
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:tky:fseres:2004cf310

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