« Understanding institutional change in Asia: A comparative perspective with Europe », 15-17 September, 2016, Tokyo
Discussion Paper Series 2017 #01: « Institutional investors, corporate social responsibility, and stock price performance »
The launch of the United Nations Global Compact Principles for Responsible Investment (PRI) in 2006 prompted the Japanese government to emphasize corporate social responsibility (CSR) in investment policies and put pressure on institutional investors to monitor environmental and social performance.
Differential Impact of Uncertainty on Exporting Decision in Risk-averse and Risk-taking Firms: Evidence from Korean Firms
By Haeng-sun KIM, published in Seoul Journal of Economics 2016, Vol. 29, No. 3, August 2016, p. 379-409
By Haengsun KIM, published in International Economics, Volume 148, December 2016, Pages 41–58.
The 15th EAJS International Conference will be held from 30 August to 2 September 2017 in Lisbon, Portugal. The European Association for Japanese Studies invites paper and panel proposals for the forthcoming 15th EAJS International Conference. Panel and paper proposals should be written in English and submitted no later than 14 December 2016.
The Khazanah Institute, the French Embassy in Malaysia and the Malaysia France University Centre are organizing the Franco-Malaysian international conference entitled « The Malaysian capitalism in comparative perspective », which will take place on 7-8th November 2016 Kuala Lumpur.
Abenomics initially generated high expectations, but the mood has currently shifted to present it as another failed economic experiment. Opinions on Abenomics are however often closed to caricatures. It is thus crucial to provide a critical and balanced evaluation.
Discussion Paper Series 2016 #06 : «The Evolution of the Ict Start-Up Eco-System in Japan: From Corporate Logic to Venture Logic?»
This paper uses the notion of institutional logics to advance our understanding of institutional change in the ICT start-up eco-system in Japan. We chose to study ICT start-ups because the rates of entry, growth, and exit are faster in this sector than in others, making it easier to observe institutional change.
Discussion Paper Series 2016 #05 : « The impact of changes in Japanese tender offer regulations on bidder behavior and shareholder gains »
Abstract Japanese regulators have undertaken several adjustments to the rules governing the market for corporate control beginning with the 1990 introduction of mandatory bid rules (MBR) for tender offers. However, the adoption of an MBR alone did not initially contribute to an active tender offer market, nor did it adequately protect targets’ minority shareholders. It required more than a decade and two important revisions to MBR for the regulators to achieve a reasonable balance between the conflicting objectives of MBR regulation. First, share based squeeze-out rules were introduced in 1999. Then, in 2006, additional new rules increased the protection of...
The 2nd annual meeting of the INCAS project will be held at Waseda University (Tokyo, Japan), from 15th to 17th September 2016.
Discussion Paper Series 2016 #04 : « Toward a Conceptual Framework for Understanding Institutional Change in Japanese Capitalism: Structural Transformations and Organizational Diversity »
Extract The literature on comparative capitalism sees institutions largely as a set of incentives and constraints on rational behavior of business enterprises. Institutions constrain economic action, but also create new opportunities for economic action. For example, any market order needs the support of basic property rights and the rule of law (Khanna & Palepu, 2006), which both constrain certain uses of property and thereby enable other ones. Institutions may also solve certain collective action problems through different modes of governance over transactions – such as markets, hierarchies, networks, associations, state regulation and so on (Hollingsworth & Boyer, 1997). Consequently, many...
Discussion Paper Series 2016 #03 : « Does Ownership Really Matter? : The Role of Foreign Investors in Corporate Governance in Japan »
After the banking crisis of 1997, corporate ownership in Japan shifted from an insider-dominated to an outsider-dominated structure. This paper analyzes the impact of dramatic changes in the ownership structure on corporate governance and firm value, focusing on the role of foreign institutional investors.
Angelo Riva will held a special seminar at the Institute for Monetary and Economic Studies(IMES), Bank of Japan, Tokyo on June 27th, 2016.
A series of conferences by Kathleen Thelen, Ford Professor of Political Science at the Massachusetts Institute of Technology and Directrice d’étude invitée at the EHESS (june 2016).
In this paper, we introduce a financial dimension as an additional source of firm heterogeneity to understand export market participation, and examine how the impact of leverage on firms’ exporting decisions varies depending on financial constraints, using a panel of 3,353 Korean manufacturing firms over the period of 1994-2011.
The purpose of this article is to analyze the revival of industrial policies from the late 2000s in Japan and Korea and their limitations.