1999 Fiscal Year Final Research Report Summary
A Comparative Study of Corposate Governance
| Project/Area Number |
09430024
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Business administration
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| Research Institution | TOYO UNIVERSITY (1998-1999)
Hitotsubashi University (1997) |
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Principal Investigator |
HIRATA Mitsuhiro Toyo University Faculty of Business Management Professor, 経営学部, 教授 (40017489)
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| Co-Investigator(Kenkyū-buntansha) |
DEMISE Nobuyuki Saitama University Faculty of Economics Associate Professor, 経済学部, 助教授 (60248961)
YOSHIMORI Masaru Yokohama National University Facilty of Business Management Professor, 経営学部, 教授 (20182834)
KIKUCHI Toshio Nihon University Faculty of Economics Professor Emeritus, 経済学部, 名誉教授 (20058895)
MAKINO Masato Fuji Junior College Department of Business Management Associate Professor, 助教授 (40248977)
MATSUSHITA Masaru Tokyo Metropolitan College Department of Business System Associate Professor, 助教授 (90165811)
UETAKE Teruhisa Keio University Faculty of Commerce Professor (80051556)
KIKUSAWA Kenshu The Defense Academy Department of Social Sciences Professor
YANAGAWA Takayuki Hakuou University Faculty of Business Management Professor (50285946)
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| Project Period (FY) |
1997 – 1999
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| Keywords | corprate governance / concept of the firm / shareholder / stakeholder / legitimacy / efficiency / reform of corporate governance / 株主 |
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| Research Abstract |
Our research results consist of three reports:
(1) The Report on "A Comparative Study of Corporate Govenance : Part 1" March, 2000
(2) The Report on "A Comparative Study of Corporate Governance : Part 2" April, 2000
(3)The Report on the Questionnaires for Presidents, Auditors and Institutional Investors about "Changes in Business Environments and What Japanese Corporate Governance will be like in the Future" March, 2000.
The important findings obtained by our research are as follows:
(1) The concept of the firm has both good points and bad points. There is no one best concept of the firm.
(2) Viewed in efficiency and legitimacy, we cannot generalize that Anglo-American unitary concept of the firm is superior to Japanese multiple concept of the firm and German dual concept of the firm.
(3) The profitability of Japanese style of organization is lower than that of US and German styles of organization, but the ratio of productivity of the former is higher than that of the latter.
(4) The legitimacy of the behavior of top management is based on shareholder's entrust in Britain and the US, stakeholder's consensus in Germany and contribution to the development of an enterprize in Japan. It differs with the nation.
(5) The reform of corporate governance varies from nation to nation, such as public and autonomous regulations in the US, autonomous regulation in Britain and public regulation in Japan. These differences arise from what stakeholders ought to be.
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