"This book develops a new framework (stakeholder model) that helps understand corporate finance and governance in modern society, where (especially in developed countries) the sources of people's happiness have shifted from monetary to non-monetary factors. The book takes a more comprehensive...

Corporate culture does matter. Using data on mission statements of large Japanese firms, we show that corporate culture has a significant impact on corporate policies that determine employment, board, and financial structures. We provide evidence that strong-culture firms are more likely to...

We conduct a discourse analysis of the Bank of Japan's Monthly Report and examine its characteristics in relation to business cycles. We find that the difference between the number of positive and negative expressions in the reports leads the leading index of the economy by approximately three...

ch. 1. Corporations in modern society -- ch. 2. For whom are contemporary companies managed? -- ch. 3. Corporate value in stakeholder society -- ch. 4. Are strong shareholder rights desirable? -- ch. 5. Is governance by shareholders necessary? Employees' quiet exit -- ch. 6. The board of...