| Budget Amount *help |
¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2016: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2015: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2014: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2013: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
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| Outline of Final Research Achievements |
It has long been argued that corporate governance practices commonly found in Japan differ markedly from those in the U.S. In the U.S., in the arena of corporate control, institutional investors and independent boards of directors are arguably important governance mechanisms. In contrast, corporate governance arrangement in Japan is conventionally considered as bank centered. However, following the process of financial deregulation and the collapse of the Japanese bubble economy in the early 1990s, the bank-centered corporate governance system has been gradually transformed into the market-oriented system as commonly found in the U.S. I examine the determinants and consequences of these changes.
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