Japanese Corporate Governance and the Principle of Internalism

9 Pages Posted: 3 Jan 2007

See all articles by John Buchanan

John Buchanan

University of Cambridge - Centre for Business Research (CBR)

Abstract

Japanese corporate governance can be analysed in terms of a defining characteristic of "internalism": the belief that companies should be controlled by internally appointed managers who are integrated into their firms. Examples are offered from recent contacts with corporate management and other sources to illustrate how this determines the response of management to specific developments. Internalism depends on a socio-corporate environment created by specific historical and economic circumstances. Potentially disruptive elements exist which could alter this environment and undermine the foundations on which internalism rests. However, major change seems unlikely in the near future.

Suggested Citation

Buchanan, John, Japanese Corporate Governance and the Principle of Internalism. Corporate Governance: An International Review, Vol. 15, No. 1, pp. 27-35, January 2007. Available at SSRN: https://ssrn.com/abstract=954813 or http://dx.doi.org/10.1111/j.1467-8683.2007.00539.x

John Buchanan (Contact Author)

University of Cambridge - Centre for Business Research (CBR) ( email )

Top Floor, Judge Business School Building
Trumpington Street
Cambridge, CB2 1AG
United Kingdom

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