The Market for Corporate Control in Japan

Descriere

This book analyzes the modern trend in the Japanese M and A market. It reveals from different perspectives the process of convergence to a new monitoring model of the corporation: "the market for corporate control".

A prima facie verification is based on the examination of the evolution of the M and A environment in the last twenty years including statistics, analysis of cultural and structural impediments, and economic-political reforms. The analysis of 17 cases of hostile takeover and of the process of transformation of the regulatory framework governing takeovers and related legal issues further corroborates the final argument. There is particular focus on the important METI-MOJ Guidelines of 2005.

Inside the academic debate of theories of convergence and path-dependence, the conclusions of the author ultimately support the hypothesis that Japanese corporate control has converged to a "hybrid Americanized version of the model of market for corporate control".

• Convergence
• Corporate Governance
• Japan
• M&A
• Takeover