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Employment Systems in Japan's Financial Industry: Globalization, Growing Divergence and Institutional Change

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  • Mari Yamauchi

Abstract

This article examines growing divergence and change in the employment systems of Japan's financial industry from the early 1990s until shortly after the so-called Lehman Shock. This was a period which saw accelerated deregulation and globalization strongly impact the country's financial markets, leading to intensified competition over human resources. Foreign multinational corporations introduced into Japan's local product and labour markets new global ‘rules of the game’; in response, some native firms were forced to alter core aspects of a traditional employment model. The result was the emergence of diverging patterns of employment. The present study will demonstrate that the interaction of two key factors — national ownership and variation among core products and services offered — is shaping employment diversification, mediated by firms’ individual policies and practices. This research contributes to the debate on the effects of globalization on the divergence and change of employment systems.

Suggested Citation

  • Mari Yamauchi, 2016. "Employment Systems in Japan's Financial Industry: Globalization, Growing Divergence and Institutional Change," British Journal of Industrial Relations, London School of Economics, vol. 54(3), pages 522-551, September.
    • Handle: RePEc:bla:brjirl:v:54:y:2016:i:3:p:522-551
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    File URL: http://hdl.handle.net/10.1111/bjir.12164
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    References listed on IDEAS

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    1. Tony Edwards & Paul Edwards & Anthony Ferner & Paul Marginson & Olga Tregaskis, 2010. "Multinational Companies and the Diffusion of Employment Practices from Outside the Country of Origin," Management International Review, Springer, vol. 50(5), pages 613-634, October.
    2. Phillip M Rosenzweig & Nitin Nohria, 1994. "Influences on Human Resource Management Practices in Multinational Corporations," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 25(2), pages 229-251, June.
    3. Anthony Ferner & Matthias Varul, 2000. "‘Vanguard’ Subsidiaries and the Diffusion of New Practices: A Case Study of German Multinationals," British Journal of Industrial Relations, London School of Economics, vol. 38(1), pages 115-140, March.
    4. Motohiro Morishima, 1995. "Embedding HRM in a Social Context," British Journal of Industrial Relations, London School of Economics, vol. 33(4), pages 617-640, December.
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    Cited by:

    1. Jonathan Morris & Rick Delbridge & Takahiro Endo, 2018. "The Layering of Meso‐Level Institutional Effects on Employment Systems in Japan," British Journal of Industrial Relations, London School of Economics, vol. 56(3), pages 603-630, September.
    2. Mari Yamauchi, 2021. "Employment practices in Japan’s automobile industry: the implication for divergence of employment systems under globalization," Evolutionary and Institutional Economics Review, Springer, vol. 18(1), pages 249-270, April.
    3. Kimitaka Nishitani & Akira Kawaguchi, 2022. "Mitigating Gender Inequality in the Workplace: Toward Sustainable Development Through Institutional Changes," Discussion Paper Series DP2022-07, Research Institute for Economics & Business Administration, Kobe University, revised May 2022.

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