Recent Trends in Japanese Corporate Governance

Nikolay Naydenov ()

Economic Studies journal, 2014, issue 1, 88-115

Abstract: The corporate governance (CG) system in Japan at the start of the XXI century is analyzed in the study along the following lines: changes in the corporate ownership structure – the dissolution of stable and cross ownership; changes in the composition and structure of corporate boards; the effects of the introduction of incentive schemes for directors; development of the market for corporate control – mergers and acquisitions (M&A); relationship between transparency (information disclosure) and CG models. Based on this analysis, recent trends in Japanese CG have been identified, namely – declining role of the banks in the ownership, monitoring and control of Japanese corporations; enhancing the interests of shareholders; significant intensification of M&A activities; rewinding of cross ownership in the second half of last decade; diversification of the CG mechanisms applied by firms and their groupings. In conclusion, some guidelines for the development of CG in Bulgaria have been suggested.

JEL-codes: G32 G34 M12 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econst:y:2014:i:1:p:88-115

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