Hedge fund activism in Japan : the limits of shareholder primacy / John Buchanan, Dominic Heesang Chai, Simon Deakin.

Format:

Book

Author/Creator:

Buchanan, John, 1951- author.

Chai, Dominic Heesang, author.

Deakin, S. F. (Simon F.), author.

Language:

English

Subjects (All):

Corporations--Investor relations--Japan.

Corporations.

Stockholders--Japan.

Stockholders.

Hedge funds--Japan.

Hedge funds.

Corporate governance--Japan.

Corporate governance.

Physical Description:

1 online resource (x, 377 pages) : digital, PDF file(s).

Place of Publication:

Cambridge : Cambridge University Press, 2012.

Language Note:

English

Summary:

Hedge fund activism is an expression of shareholder primacy, an idea that has come to dominate discussion of corporate governance theory and practice worldwide over the past two decades. This book provides a thorough examination of public and often confrontational hedge fund activism in Japan in the period between 2001 and the full onset of the global financial crisis in 2008. In Japan this shareholder-centric conception of the company espoused by activist hedge funds clashed with the alternative Japanese conception of the company as an enduring organisation or a 'community'. By analysing this clash, the book derives a fresh view of the practices underpinning corporate governance in Japan and offers suggestions regarding the validity of the shareholder primacy ideas currently at the heart of US and UK beliefs about the purpose of the firm.

Contents:

List of figures

List of tables

Acknowledgements

Note on transcriptions of Japanese words

Introduction: hedge fund activism, Japanese corporate governance, and the nature of the company

Perspectives, methods, and data

Companies, company law, and corporate governance

The rise of shareholder primacy in America and Britain

The emergence of activist hedge funds

Firm-centric corporate governance: the evolution of the Japanese model

Japan's unexpected credentials as a target for hedge fund activism

Hedge fund activism: funds, targets and outcomes

Two turning points: Bull-Dog Sauce and J-Power

Responding to activism: managers, investors, officials, and the media

"Quiet activism": the future for shareholder engagement in Japan?

Conclusion: hedge fund activism, Japanese corporate governance, and shareholder primacy.

Notes:

Title from publisher's bibliographic system (viewed on 05 Oct 2015).

Includes bibliographical references and index.

ISBN:

1-107-23054-3

1-139-41154-3

1-280-68303-1

9786613659972

1-139-42290-1

1-139-06147-X

1-139-41988-9

1-139-42193-X

1-139-41784-3

1-139-42397-5

OCLC:

795125126