In this Article, we present data on legal elites in Japan - legally trained university graduates poised to pursue successful careers either as fast-track bureaucrats or lawyers handling sophisticated business transactions. The data show a marked shift in employment patterns over the past decade:...

Corporate governance scholarship on controlling shareholders has focused almost exclusively on shareholder wealth diversion (“tunneling”) and creation (“idiosyncratic vision”). This essay shifts the focus to the fusion of political and economic power inherent in corporate control, and...

Corporate governance scholarship on controlling shareholders has focused almost exclusively on shareholder wealth diversion (“tunneling”) and creation (“idiosyncratic vision”). This essay shifts the focus to the fusion of political and economic power inherent in corporate control, and...

More than forty years after its invention the poison pill defensive measure remains the subject of important judicial decisions and renewed academic debate concerning fundamental corporate governance questions, both in the United States, its country of origin, and in its adopted home of Japan....

This Article provides theoretical and empirical support for the claim that organized crime competes with the state to provide property rights enforcement and protection services. Drawing on extensive data from Japan, this Article shows that, like firms in regulated environments everywhere, the...

Enforcement problems plague shareholder activism and investor protection in many parts of the world. The importance of solving this problem has led scholars to consider a range of partial alternatives to weak domestic corporate law enforcement regimes, ranging from writing "self enforcing"...

U.S. policy is increasingly being influenced by suspicion of links between Chinese companies and the Chinese party-state and military. Competition over the technological future between the world’s two largest economies has produced a legal thicket of statutes, regulations, and executive orders...

Using an institutional and empirical approach, this book analyses the role of formal rules (law and regulations) and informal rules (norms, practices, and shared beliefs) in the Japanese economy. Through in-depth studies of corporate governance and finance, mergers and acquisitions, financial...

<DIV><DIV><DIV>Recent high-profile corporate scandals—such as those involving Enron in the United States, Yukos in Russia, and Livedoor in Japan—demonstrate challenges to legal regulation of business practices in capitalist economies. Setting forth a new analytic framework for understanding these...</div></div></div>

This essential book analyzes the regulatory and operational challenges that foreign direct investors face in the United States, as well as the ways in which these challenges can be overcome.