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This article reviews Germany's corporate governance system and the effectiveness of recent reforms. Since the early 1990s far-reaching reforms have complemented the traditional stakeholder system with important elements of the shareholder system. Instead of taking a view on the superiority of...
Persistent link: https://www.econbiz.de/10005263885
This paper constructs a composite index of corporate governance quality, documents its evolution from 1994 through 2003 in selected emerging and developed economies, and assesses its impact on aggregate and corporate growth and productivity. Our investigation yields three main findings. First,...
Persistent link: https://www.econbiz.de/10005769260
Japan’s high corporate savings might be holding back growth. We focus on the causes and consequences of the current corporate behavior and suggest options for reform. In particular, Japan’s weak corporate governance—as measured by available indexes—might be...
Persistent link: https://www.econbiz.de/10011142069
Persistent link: https://www.econbiz.de/10005807985
This paper examines the effects of structural changes in financial system on corporate governance in Japan. The primary …
Persistent link: https://www.econbiz.de/10010542235
This paper examines the effects of structural changes in financial system on corporate governance and finance in Japan … changes in financial system in Japan and their effects on corporate finance and governance; to develop insights concerning … corporate system is changing. As equity financing replace bank financing as the primary source of capital in Japanese major …
Persistent link: https://www.econbiz.de/10005784044
This paper examines the effects of structural changes in financial system on corporate governance and finance in Japan … changes in financial system in Japan and their effects on corporate finance and governance; to develop insights concerning … corporate system is changing. As equity financing replace bank financing as the primary source of capital in Japanese major …
Persistent link: https://www.econbiz.de/10005784045
The current economic crisis of Japan may be attributed largely to the dysfunction of the corporate goverance system … particular with the main bank. Internal and external mechanisms of control became inefficient. Up until the 80s the large … discretionary power of the President assured shareholders a higher return on investment by international comparison. This management …
Persistent link: https://www.econbiz.de/10005770061
Is there one best way to run the modern business corporation? What is the appropriate balance between shareholders … book shows, corporations in Japan and the United States are responding differently to the pressures unleashed by … corporate governance, and even for the level of inequality in Japan and the United States. <i>The Embedded Corporation</i> is a …
Persistent link: https://www.econbiz.de/10005797569
shareholders, in the capital markets, and in the incentive structures for management, and the further erosion of corporate norms …
Persistent link: https://www.econbiz.de/10005644826