1. The traditional model of Japanese corporate governance involved significant state intervention and coordination between firms through keiretsu groups. This model led to sustainable long-term growth over nearly 40 years.
2. However, concerns grew about issues like asymmetric information, moral hazard, and the negative consequences of separating ownership and control. Abenomics aims to introduce a new model focused on short-term shareholder returns through measures like Japan's Corporate Governance Code.
3. Shifting from the traditional model to a new system focused on shareholders risks creating economic inequalities if not implemented carefully. The change will need to be gradual to allow firms time to adapt, like a reptile shedding its skin.
Hommage à Edouard Salustro, entrepreneur du chiffreJean-Yves ARCHER
Hommage à Edouard Salustro, ancien président de l'Ordre des Experts-comptables, commissaire aux comptes, président de section au Conseil économique et social
1. The traditional model of Japanese corporate governance involved significant state intervention and coordination between firms through keiretsu groups. This model led to sustainable long-term growth over nearly 40 years.
2. However, concerns grew about issues like asymmetric information, moral hazard, and the negative consequences of separating ownership and control. Abenomics aims to introduce a new model focused on short-term shareholder returns through measures like Japan's Corporate Governance Code.
3. Shifting from the traditional model to a new system focused on shareholders risks creating economic inequalities if not implemented carefully. The change will need to be gradual to allow firms time to adapt, like a reptile shedding its skin.
Hommage à Edouard Salustro, entrepreneur du chiffreJean-Yves ARCHER
Hommage à Edouard Salustro, ancien président de l'Ordre des Experts-comptables, commissaire aux comptes, président de section au Conseil économique et social