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Who Supports Shareholder-oriented Corporate Governance in Japan?: A Study on Social Norms about Corporate Governance

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Abstract:

In Japan, there are keen discussions among specialists concerning how far the U.S. style shareholder-oriented corporate governance will be accepted in the future. This paper, standing on the viewpoint that the social norms about corporate governance has considerable influence on the actual practice of corporate governance, investigates how many people, and what kinds of people support shareholder-oriented corporate governance in Japan, based on a national random sampling survey.

The results can be summarized as follows. First, about 20% support shareholder-oriented corporate governance, while about 70% support employee-oriented corporate governance. Furthermore, the fact that a considerable number of respondents answer “I don’t know” is also notable. Second, as to what kinds of people support shareholder-oriented corporate governance, the capitalist factor (higher incomes, unemployed), the outsider factor (young people, non-regular employee, small company), the neo-liberalism factor and the intellectual factor (male, better education) have positive effects.

From these results, it is unrealistic to predict that shareholder-oriented corporate governance will develop abruptly under the support of the general public in the near future. Nevertheless, it is possible that the demand to shareholder-oriented corporate governance will heighten gradually in the long term, if some assumptions are fulfilled.

Most Common Document Word Stems:

corpor (100), govern (99), sharehold (92), orient (81), shareholder-ori (69), compani (55), employe (49), peopl (39), support (35), factor (34), opinion (33), variabl (25), japan (25), tend (24), norm (24), interest (22), employ (22), regular (21), public (21), incom (21), 2005 (20),

Author's Keywords:

corporate governance, shareholder, stakeholder, social norms, neo-liberalism, Japan
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Name: American Sociological Association
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http://www.asanet.org


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MLA Citation:

Takahashi, Koji. "Who Supports Shareholder-oriented Corporate Governance in Japan?: A Study on Social Norms about Corporate Governance" Paper presented at the annual meeting of the American Sociological Association, TBA, New York, New York City, Aug 11, 2007 <Not Available>. 2013-12-15 <http://citation.allacademic.com/meta/p183613_index.html>

APA Citation:

Takahashi, K. , 2007-08-11 "Who Supports Shareholder-oriented Corporate Governance in Japan?: A Study on Social Norms about Corporate Governance" Paper presented at the annual meeting of the American Sociological Association, TBA, New York, New York City Online <APPLICATION/PDF>. 2013-12-15 from http://citation.allacademic.com/meta/p183613_index.html

Publication Type: Conference Paper/Unpublished Manuscript
Abstract: In Japan, there are keen discussions among specialists concerning how far the U.S. style shareholder-oriented corporate governance will be accepted in the future. This paper, standing on the viewpoint that the social norms about corporate governance has considerable influence on the actual practice of corporate governance, investigates how many people, and what kinds of people support shareholder-oriented corporate governance in Japan, based on a national random sampling survey.

The results can be summarized as follows. First, about 20% support shareholder-oriented corporate governance, while about 70% support employee-oriented corporate governance. Furthermore, the fact that a considerable number of respondents answer “I don’t know” is also notable. Second, as to what kinds of people support shareholder-oriented corporate governance, the capitalist factor (higher incomes, unemployed), the outsider factor (young people, non-regular employee, small company), the neo-liberalism factor and the intellectual factor (male, better education) have positive effects.

From these results, it is unrealistic to predict that shareholder-oriented corporate governance will develop abruptly under the support of the general public in the near future. Nevertheless, it is possible that the demand to shareholder-oriented corporate governance will heighten gradually in the long term, if some assumptions are fulfilled.

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