An Institutional Theory Perspective on the 'Global Convergence' in Japanese Corporate Governance

An Institutional Theory Perspective on the 'Global Convergence' in Japanese Corporate Governance

There is a rising global pressure to adopt Anglo-American corporate governance practices because of globalization of capital markets. Non Anglo-American firms such as those of the Japanese also face domestic forces in their home country that influence their governance practices. We present an instit...

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Bibliographic Details
Main Authors: YOSHIKAWA, Toru, PHAN, P. H.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2004
Subjects:
Asian Studies
Business Law, Public Responsibility, and Ethics
Corporate Finance
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/182
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Institution: Singapore Management University
Language: English
Description
Summary:There is a rising global pressure to adopt Anglo-American corporate governance practices because of globalization of capital markets. Non Anglo-American firms such as those of the Japanese also face domestic forces in their home country that influence their governance practices. We present an institutional theory based framework that explains the determinants of non Anglo-American firms’ choice of corporate governance practices. We argue that the institutional distance and a firm’s institutional embeddedness affect whether a firm will adopt Anglo-American corporate governance practices.

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