Internal Promotion and the Effect of Board Monitoring: A Comparison of Japan and the United States

dc.contributor.authorSato, Megumu
dc.date.accessioned2015-12-07T22:30:27Z
dc.date.issued2010
dc.date.updated2020-11-15T07:22:02Z
dc.description.abstractThis paper analyses two pronounced features of Japanese corporate governance--large corporate boards almost entirely composed of insiders and the tendency to appoint CEOs through internal promotions. It is often argued that Japanese boards are less effective in monitoring CEOs than U.S. boards which tends to be composed of a small number of directors, majority of which are outsiders. I show that Japanese corporate governance exhibits less inefficiencies than U.S. corporate governance. I further discuss the recent changes in Japanese corporate governance and provide theoretical explanation that they do not necessarily enhance board monitoring.
dc.identifier.issn1834-8971
dc.identifier.urihttp://hdl.handle.net/1885/22327
dc.publisherAustralian National University
dc.sourceAsia Pacific Economic Papers
dc.titleInternal Promotion and the Effect of Board Monitoring: A Comparison of Japan and the United States
dc.typeJournal article
local.bibliographicCitation.issue387
local.bibliographicCitation.lastpage26
local.bibliographicCitation.startpage1
local.contributor.affiliationSato, Megumu, College of Asia and the Pacific, ANU
local.contributor.authoremailrepository.admin@anu.edu.au
local.contributor.authoruidSato, Megumu, u4747010
local.description.embargo2037-12-31
local.description.notesImported from ARIES
local.identifier.absfor140207 - Financial Economics
local.identifier.absfor150303 - Corporate Governance and Stakeholder Engagement
local.identifier.absseo940299 - Government and Politics not elsewhere classified
local.identifier.ariespublicationu4111581xPUB21
local.identifier.citationvolume2010
local.identifier.uidSubmittedByu4111581
local.type.statusPublished Version

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