Purpose of a Business Corporation

Dipak Basu and Victoria Miroshnik

Chapter 1 in Corporate Governance System of Japanese Multinational Companies:A Quantitative Evaluation, 2019, pp 1-2 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The purpose of a corporation in Japan differs from that in the West. While the latter is aimed primarily to provide profits for shareholders, Japanese corporations exist fundamentally to produce economic value to Japan as a nation. Creation of employment to the Japanese people is the highest priority of the Japanese corporations. Given this difference in corporate purpose, Western i.e., Anglo-American notions of corporate governance have limited applicability in Japan. While the West emphasizes the relationship between shareholders, management, and the Board of Directors, Japanese corporations are dedicated to their stakeholders, i.e., the employees, customers, suppliers, creditors, and community…

Keywords: Corporate Governance; Japanese Companies; Organizational Efficiency; Quantitative Method to Analyze Corporate Governance (search for similar items in EconPapers)
JEL-codes: C44 F23 G34 O47 (search for similar items in EconPapers)
Date: 2019
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