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Nothing New In The (North) East? Interpreting The Rhetoric And Reality Of Japanese Corporate Governance, Luke R. Nottage

Comparative Research in Law & Political Economy

Japan finally seems to be pulling itself out of its "lost decade" (and a half) of economic stagnation. Some grudgingly or triumphantly attribute this to micro-economic reforms, freeing up arthritic markets, although there is also evidence that macro-economic policy failures have been a major cause of poor performance since the 1990s. Many point to overlapping transformations in corporate governance, broadly defined to cover relationships among managers and employees as well as between firms and outside shareholders, creditors, and other stakeholders. These relationships are in flux, with moves arguably favouring shareholders and more market-driven control mechanisms. It has certainly been a …