Corporate Social Responsibility and Corporate Finance in Japan /
General Material Designation
[Book]
First Statement of Responsibility
Megumi Suto, Hitoshi Takehara.
.PUBLICATION, DISTRIBUTION, ETC
Place of Publication, Distribution, etc.
Singapore :
Name of Publisher, Distributor, etc.
Springer,
Date of Publication, Distribution, etc.
[2018]
PHYSICAL DESCRIPTION
Specific Material Designation and Extent of Item
1 online resource :
Other Physical Details
illustrations
SERIES
Series Title
Advances in Japanese Business and Economics ;
Volume Designation
v. 17
INTERNAL BIBLIOGRAPHIES/INDEXES NOTE
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Includes bibliographical references and index.
CONTENTS NOTE
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Intro; Preface; Contents; About the Authors; List of Figures; List of Tables; 1 Introduction: Corporate Social Responsibility and Japanese Corporations; 1.1 Focus and Contributions; 1.2 Corporate Responsibility and Japanese Business; 1.3 CSR Awareness of Japanese Companies Since the 2000s; 1.4 CSR Awareness of Investors and SRI Market in Japan; 1.5 CSP and CFP; 1.6 Ownership Structure and Market Perceptions of CSR; 1.7 Corporate Governance Reform and CSR; References; 2 Corporate Social Responsibility Awareness and Practices of Japanese Corporations; 2.1 Conceptualization of CSR.
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2.2 CSR Theories and Strategic CSR2.3 Stakeholder Management and Corporate Value; 2.3.1 Resource-Based View; 2.3.2 Risk Management Perspective; 2.3.3 Information Advantage Perspective; 2.4 Corporate Governance and CSR; 2.5 CSR and Stakeholder Management in the Japanese Business Model; 2.6 CSR Initiatives in the Early 2000s in Japan; 2.6.1 Interpretation of CSR; 2.6.2 Trends of CSR; 2.7 CSR Awareness and Practices Since the Late 2000s; 2.8 CSR Reporting and Corporate Governance Reform; 2.9 Conclusion; References; 3 Responsible Investment and Institutional Investors.
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3.1 Corporate Finance and Asset Management in Japan3.2 Behavioral Bias of Institutional Investors in the 2000s; 3.3 SRI Market in Japan; 3.4 Corporate Governance Reform and Responsible Investment; 3.5 Conclusion; References; 4 Corporate Social Performance and Corporate Financial Performance; 4.1 Introduction; 4.2 CSP and Stakeholder Management; 4.2.1 Channels to Link CSP and CFP; 4.2.2 Competitive Advantage and Risk Management; 4.3 How to Measure CSP and CFP; 4.3.1 Measures of CSP; 4.3.2 Profitability and Risk Measures; 4.4 Samples and Methodology; 4.4.1 Samples.
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4.4.2 Correlations Between CSP and CFP4.4.3 Differences in Financial Performance: High and Low CSP Portfolios; 4.5 Regression Analyses; 4.5.1 Regression Model; 4.5.2 Regression Results for 2008-2016; 4.5.3 Regression Results for Sub-periods; 4.5.4 CSR Awareness of Japanese Firms: An Additional Fact; 4.6 Conclusion; Appendix 1: Adopted Questions from CSR Survey of Toyo Keizai CSR Database; Appendix 2: Definition of Profitability/Risk Measures; References; 5 Corporate Social Performance and Ownership Structure; 5.1 Ownership Structure and Investor Behavior; 5.1.1 Institutional Investors and CSR.
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5.1.2 Corporate Ownership and Institutional Investors in Japan5.2 Foreign Ownership and CSP; 5.2.1 Preference of Foreign Investors; 5.2.2 CSP and Ownership Structure: Hypothesis Development; 5.3 Data and Variables; 5.3.1 Categorization of Ownership; 5.3.2 Firm Characteristics; 5.3.3 Descriptive Statistics: CSP and Stock Ownership Structure; 5.3.4 Correlations; 5.4 Regression Analyses; 5.4.1 Effects of Ownership on CSP; 5.4.2 Impact of Changes in Ownership on Changes in CSP; 5.5 Summary Results and Concluding Remarks; References.
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SUMMARY OR ABSTRACT
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This book explores the linkages between the evolution of corporate social responsibility (CSR) and corporate financing and governance in Japan since the late 2000s. Since the 1990s, increasing economic and financial globalization has steadily eroded the Japanese style of business based on relationships and influenced the awareness and practices of CSR that are unique to Japanese companies. In Japan's two "lost decades" after the bubble economy, the business model and corporate financing seem to have continued a gradual financial reform toward a more market-oriented system. CSR awareness and practices of Japanese companies have been influenced by social and environmental issues that global society and communities face. Furthermore, the Fukushima nuclear accident in 2011 triggered increasing attention paid to the responsibility of business toward society. In this process, major players in corporate governance and components of governance structure have continued to change. The conventional view of Japanese corporate governance and corporate finance is too narrow to understand this field in Japan. This book is based on empirical research to investigate how multifaceted CSR has aligned with business and finance and has influenced the corporate governance structure of Japanese companies. The findings and discussions in this book act are stepping stones in further research on the linkages between business and society, and provide empirical evidence on changes in Japanese corporate finance and governance.