Corporate Governance in Japan and the UK: Codes, Theory and Practice

Citation

Mizuno M & Tabner I (2009) Corporate Governance in Japan and the UK: Codes, Theory and Practice. SSRN Working Paper Series, 1525078. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1525078

Abstract
We reflect on the evolution of corporate governance and the role of institutional investors in enhancing governance in Japan and the UK. Japan places emphasis on stakeholder capitalism, whereas the UK places emphasis on shareholder capitalism. Nonetheless, in both countries, institutional investors have exerted significant influence on the evolution of corporate governance. Institutional investors in the UK have more power over company management than their Japanese counterparts, although it is alleged that these powers are not exercised to their best potential in either country.