The Duke University GVC center and the KIET, a key Korean public research institute, published in October 2017 a 194-page-long report on Korea’s manufacturing prospects using a Global Value Chain (GVC) framework. This report is relevant for the academic community given the up-to-date statistics and scientific references.
Catégorie : Publications
Financialization and industrial policies in Japan and Korea: Evolving institutional complementarities and loss of state capabilities
By Sébastien Lechevalier (EHESS), Pauline Debanes (EHESS) and Wonkyu Shin (Kyung Hee University)
The purpose of this article is to analyze the revival of industrial policies from the late 2000 s in Japan and Korea and their limitations.
Ce dossier, publié dans le numéro 21 de la Revue de la Régulation, est consacré à l’espèce particulière de capitalisme qui se développe aujourd’hui en Chine. Le numéro est dirigé par Robert Boyer, co-fondateur de la Théorie de la Régulation et de la Revue du même nom, et Sébastien Lechevalier (EHESS).
This special issue starts with a short summary of the changing perceptions of Japan’s political economy from its meteoric rise as worldwide leading model in the 1970s and 1980s to its demotion to a problem and reform case since the later 1990s. Based on this overview, it identifies some striking issue and open questions in this conventional view of Japan’s political economy as problem and the high expectations on Abenomics as Japan’s current economic reform programme. Then we discuss the articles of the special issue and their new contributions to a better understanding of the developments at the corporate level as well as institutional change and economic reforms at the macro level in the last two decades.
Discussion Paper Series 2017 #04: « Understanding Corporate Responsibility in Japanese Capitalism: Some Comparative Observations »
By Gregory Jackson and Julia Bartosch. This paper discusses cross-country patterns of corporate responsibility with an interface to the discussion of a variety of capitalisms, and how corporate responsibility mirrors or substitutes for institutionalized forms of coordination.
Discussion Paper Series 2017 #03: « Changes in the Corporate Governance System and Presidential Turnover »
By Hideaki Miyajima, Ryo Ogawa and Takuji Saito. The article aims to shed light on how changes in the corporate governance system for Japanese firms since the 1990s have influenced presidential turnover.
By Hugh Whittaker. This paper reviews some of the recent writing on financialization and its effects in developing countries. Acknowledging the positive role of finance in development, it argues that beyond a certain point of ‘financial deepening’ there are negative consequences. Financialization affects the economy, and also the state.
« Japanese political economy revisited: diverse corporate change, institutional transformation, and Abenomics »
By David Chiavacci and Sébastien Lechevalier, in Japan Forum (2017).
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.
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 »
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.
Discussion Paper Series 2016 #04 : « Toward a Conceptual Framework for Understanding Institutional Change in Japanese Capitalism: Structural Transformations and Organizational Diversity »
By Gregory Jackson. 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.
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.