Evolutionary economics and social complexity science ;
Volume Designation
volume 16
INTERNAL BIBLIOGRAPHIES/INDEXES NOTE
Text of Note
Includes bibliographical references.
CONTENTS NOTE
Text of Note
Intro; Preface and Acknowledgment; Introduction; Contents; Chapter 1: Change and Continuity in Japanese Corporate Governance; 1.1 Introduction; 1.2 Traditional Japanese Firm: Managerial Autonomy; 1.3 Banking and Managerial Crisis; 1.4 Increase in Dividends and Introduction of the Executive Officer System; 1.5 Reform of the Board of Directors; 1.6 Gradual Institutional Change in the Corporate Governance Structure; 1.7 Further Change; 1.8 Concluding Discussion; Chapter 2: Reform of the Work Organization: Performance-Related Pay and Employment System; 2.1 Introduction.
Text of Note
2.2 Introduction of Performance-Related Pay2.3 Modification of Performance-Related Pay; 2.4 Long-Term Employment and Its Employment Rule; 2.5 Dualism in Labor Markets; 2.6 Pay for Job Versus Pay for Competence; 2.7 Problem of Internal Labor Market; 2.8 Concluding Discussion; Chapter 3: Diversification of Japanese Firms: How Did a Hybrid Organization Emerge from Corporate Governance Reform?; 3.1 Introduction; 3.2 Findings on the Change in Japanese Firms; 3.3 Analysis; 3.3.1 Estimation of the Board Reform; 3.3.2 Estimation of the Employment Policy.
Text of Note
3.3.3 Estimation of the Introduction of Performance-Related Pay3.3.4 Estimation of the Diversification of Japanese Firms; 3.4 Concluding Discussion; Chapter 4: How Do Japanese Employees React to Performance-Related Pay?: The Working of Hybrid Organizations; 4.1 Introduction; 4.2 Hybrid Organization; 4.3 Previous Studies; 4.4 The Scheme of Performance-Related Pay; 4.5 Estimation of the Work of Performance-Related Pay; 4.6 Concluding Discussion; Chapter 5: How Are Japanese Employees Reacting to Changing Corporate Governance?; 5.1 Introduction; 5.2 Overview of Corporate Reform in Japanese Firms.
Text of Note
5.3 Employees' Attitudes to Corporate Governance5.4 Estimation of Employees' Attitudes; 5.5 Employees' Voice in Management; 5.6 Concluding Discussions; Chapter 6: Conclusions; 6.1 Gradual Change in Corporate Governance; 6.2 Reform of the Employment System: Radical or Gradual; 6.3 Diversification of Japanese Firms; 6.4 The Work of Performance-Related Pay Within Hybrid Organization; 6.5 Employees' Attitudes to Changing Corporate Governance; References.
0
8
8
8
SUMMARY OR ABSTRACT
Text of Note
This book examines corporate reform in Japan by focusing on corporate governance and the employment system. Contrary to a prevailing assertion of radical change, it is revealed that actual change is gradual, and a new type of Japanese firm is generated by reform with gradual change. Throughout the book, Japanese firms are seen to be evolving through gradual institutional change. Chapter 1 discusses how Japanese corporate governance changed incrementally and cumulatively to rebuild management and restore corporate performance. Chapter 2 focuses on reform in work organization and discusses how performance-related pay was introduced in tandem with corporate governance reform. It is shown that the practice of long-term employment has been maintained despite the prolonged depression and mounting pressure to shift to shareholder-oriented corporate governance. Chapter 3 investigates how Japanese firms are diversified into four types, based on whether performance-related pay is introduced and whether long-term employment is maintained. The author demonstrates that major Japanese firms reconstruct their organization as hybrid structures based on a combination of long-term employment and performance-related pay. Chapter 4 investigates how performance-related pay actually operates. It is analyzed by distinguishing the three main objectives to be attained by performance pay: succeeding in individual performance, contributing to overall organization performance, and meeting the challenge of new tasks. Finally, Chapter 5 investigates how employees react to changes in corporate governance. Using survey data, the book shows that Japanese employees approve of increasing shareholder value, regarding it as corporate value. They not only approve the monitoring of management by shareholders, but also demand a part in the monitoring. Employees seek to be engaged in corporate governance--a true challenge for a Japanese corporation.