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How different are Japanese and the U. S. hostile takeover laws?: A functional and public choice perspective

Research Project

Project/Area Number 22730072
Research Category

Grant-in-Aid for Young Scientists (B)

Allocation TypeSingle-year Grants
Research Field Civil law
Research InstitutionNagoya University

Principal Investigator

MATSUNAKA Manabu  名古屋大学, 法学研究科, 准教授 (20518039)

Project Period (FY) 2010 – 2011
Project Status Completed (Fiscal Year 2011)
Budget Amount *help
¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Fiscal Year 2011: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2010: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Keywords会社法 / 敵対的買収 / アメリカ会社法 / デラウエア州法 / 民事法学 / 防衛策 / 反買収規制
Research Abstract

Purposes of this research project is to analyze(1) differences between Japanese and the U. S. hostile takeover laws,(2) what makes the differences and(3) what we need to make our takeover laws better. I showed that(1) the most important difference between both laws is that while the U. S.(Delaware) clearly adopts a board-centered model, Japanese law does not clearly adopt or reject the model.(2) The difference in basic model comes from differences in rule making process concerning hostile takeover and in power and distribution of interest parties between both countries. As for Japan, although there are small possibilities of adopting laws that heavily restrict hostile takeovers in general, such as some states in the U. S., there is a risk of casting restriction on hostile takeovers in some particular industries by individual statutes regulating those industries.

Report

(3 results)
  • 2011 Annual Research Report   Final Research Report ( PDF )
  • 2010 Annual Research Report
  • Research Products

    (13 results)

All 2012 2011 2010 Other

All Journal Article (8 results) (of which Peer Reviewed: 2 results) Presentation (3 results) Remarks (2 results)

  • [Journal Article] わが国における敵対的買収と防衛策に関する法ルールの形成について2012

    • Author(s)
      松中学
    • Journal Title

      私法

      Volume: 74 Pages: 226-232

    • Related Report
      2011 Annual Research Report 2011 Final Research Report
  • [Journal Article] 社外性の要件と決議の効力2012

    • Author(s)
      松中学・中東正文
    • Journal Title

      金融・商事判例

      Volume: 1384 Pages: 2-7

    • NAID

      40019151077

    • Related Report
      2011 Final Research Report
  • [Journal Article] 不公正発行、官報による新株発行の公告と新株発行の無効原因2012

    • Author(s)
      松中学
    • Journal Title

      旬刊商事法務

      Volume: 1954 Pages: 117-122

    • Related Report
      2011 Final Research Report
  • [Journal Article] 不公正発行、官報による新株発行の公告と新株発行の無効原因(東京高判平成19年3月29日金判1266号16頁)2012

    • Author(s)
      松中学
    • Journal Title

      旬刊商事法務

      Volume: 1954号 Pages: 117-122

    • Related Report
      2011 Annual Research Report
  • [Journal Article] 社外性の要件と決議の効力2012

    • Author(s)
      松中学、中東正文
    • Journal Title

      金融商事・判例

      Volume: 1384号 Pages: 2-7

    • NAID

      40019151077

    • Related Report
      2011 Annual Research Report
  • [Journal Article] Labor Relations and Labor Law in Japan2011

    • Author(s)
      Atsuhi Tsuneki & Manabu Matsunaka
    • Journal Title

      Pacific Rim Law & Policy Journal

      Volume: Vol.20, No.3 Pages: 529-561

    • Related Report
      2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] Labor Relations and Labor Law in Japan2011

    • Author(s)
      常木淳、松中学
    • Journal Title

      Pacific Rim Law & Policy Journal

      Volume: Vol.20 No.3(掲載決定)

    • Related Report
      2010 Annual Research Report
    • Peer Reviewed
  • [Journal Article] 組織再編における株式買取請求権と公正な価格2010

    • Author(s)
      松中学
    • Journal Title

      法学教室

      Volume: 362 Pages: 36-39

    • Related Report
      2011 Final Research Report 2010 Annual Research Report
  • [Presentation] わが国における敵対的買収と防衛策に関する法ルールの形成について2011

    • Author(s)
      松中学
    • Organizer
      日本私法学会第75回大会
    • Place of Presentation
      神戸大学
    • Year and Date
      2011-10-09
    • Related Report
      2011 Annual Research Report 2011 Final Research Report
  • [Presentation] Recent Developments in Japanese Listing Rules : Stock Exchanges as a Rule Maker of Corporate and Securities Law2011

    • Author(s)
      Manabu Matsunaka
    • Organizer
      Cambodian Society of Comparative Law 3rd Conference
    • Place of Presentation
      Royal University of Law and Economics
    • Year and Date
      2011-03-05
    • Related Report
      2011 Final Research Report
  • [Presentation] Recent Developments in Japanese Listing Rules : Stock Exchanges as a Rule Maker of Corporate and Securities Law2011

    • Author(s)
      松中学
    • Organizer
      Cambodian Society of Comparative Law
    • Place of Presentation
      王立法経大学(プノンペン)
    • Year and Date
      2011-03-05
    • Related Report
      2010 Annual Research Report
  • [Remarks]

    • URL

      http://www.law.nagoya-u.ac.jp/~m-matsunaka/index.html

    • Related Report
      2011 Final Research Report
  • [Remarks]

    • URL

      http://www.law.nagoya-u.ac.jp/~m-matsunaka/index.html

    • Related Report
      2011 Annual Research Report

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Published: 2010-08-23   Modified: 2016-04-21  

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