IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-01701768.html
   My bibliography  Save this paper

Professional Asset Managers and the Evolution of Corporate Governance in France and Japan: Lessons from a Questionnaire Survey

Author

Listed:
  • Yumiko Miwa

    (Meiji University [Tokyo])

  • Peter Wirtz

    (Laboratoire de Recherche Magellan - UJML - Université Jean Moulin - Lyon 3 - Université de Lyon - Institut d'Administration des Entreprises (IAE) - Lyon)

  • Mitsuru Mizuno

    (Yamato University Osaka)

  • Mohamed Khenissi

    (UGA [2016-2019] - Université Grenoble Alpes [2016-2019])

Abstract

Corporate governance in the Anglo-Saxon Environment, considered as a benchmark, is usually described as being primarly driven by shareholder interests, whereas the French and Japanese systems are traditionally thought of s more stakeholder oriented. However, the increasing share of international ownership has had a significant impact on corporate governance in both countries over the last two decades. The shareholder-driven discourse on corporate governance best practice, which leans heavily on agency theory, has been progressively institutionalized on a global scale (Aguilera & Cuervo-Cazurra, 2004). Institutional investors and professional asset management firms are likely to have been powerful advocates of institutionalizing discourse on corporate governance best practice (Wirtz, 2008). We conducted a survey in order to study asset management firms' underlying perceptions and motivations in actively influencing corporate governance in France and Japan. Specifically, we report to what extent professional asset managers endorse standard discourse on corporate governance best practice.

Suggested Citation

  • Yumiko Miwa & Peter Wirtz & Mitsuru Mizuno & Mohamed Khenissi, 2017. "Professional Asset Managers and the Evolution of Corporate Governance in France and Japan: Lessons from a Questionnaire Survey," Post-Print hal-01701768, HAL.
  • Handle: RePEc:hal:journl:hal-01701768
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Michael C. Jensen, 2010. "Value Maximization, Stakeholder Theory, and the Corporate Objective Function," Journal of Applied Corporate Finance, Morgan Stanley, vol. 22(1), pages 32-42, January.
    2. John Buchanan & Simon Deakin, 2007. "Japan's Paradoxical Response to the new 'Global Standard' in Corporate Governance," Working Papers wp351, Centre for Business Research, University of Cambridge.
    3. Peter Wirtz, 2004. "The Changing Institutions of Governance in Corporate France:What Drives the Process?," Working Papers CREGO 1040701, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
    4. Peter Wirtz, 2008. "Les meilleures pratiques de gouvernance d'entreprise," Post-Print halshs-00746263, HAL.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Simon Deakin & Ajit Singh, 2009. "The Stock Market, the Market for Corporate Control and the Theory of the Firm: Legal and Economic Perspectives and Implications for Public Policy," Chapters, in: Per-Olof Bjuggren & Dennis C. Mueller (ed.), The Modern Firm, Corporate Governance and Investment, chapter 9, Edward Elgar Publishing.
    2. Maha Faisal Alsayegh & Rashidah Abdul Rahman & Saeid Homayoun, 2020. "Corporate Economic, Environmental, and Social Sustainability Performance Transformation through ESG Disclosure," Sustainability, MDPI, vol. 12(9), pages 1-20, May.
    3. Mara Del Baldo, 2012. "Corporate social responsibility and corporate governance in Italian SMEs: the experience of some “spirited businesses”," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 16(1), pages 1-36, February.
    4. repec:dau:papers:123456789/1059 is not listed on IDEAS
    5. Scholtens, Bert, 2008. "A note on the interaction between corporate social responsibility and financial performance," Ecological Economics, Elsevier, vol. 68(1-2), pages 46-55, December.
    6. Thomas Maak & Nicola M. Pless & Christian Voegtlin, 2016. "Business Statesman or Shareholder Advocate? CEO Responsible Leadership Styles and the Micro-Foundations of Political CSR," Journal of Management Studies, Wiley Blackwell, vol. 53(3), pages 463-493, May.
    7. Marc Bollecker & Pierre Mathieu & Claude Clementz, 2006. "Le Comportement Socialement Responsable Des Entreprises : Une Lecture Des Travaux En Comptabilite Et Contrôle De Gestion Dans Une Perspective Neo-Institutionnaliste," Post-Print halshs-00769052, HAL.
    8. Erik G. Hansen & Stefan Schaltegger, 2018. "Sustainability Balanced Scorecards and their Architectures: Irrelevant or Misunderstood?," Journal of Business Ethics, Springer, vol. 150(4), pages 937-952, July.
    9. Ferrell, Allen & Liang, Hao & Renneboog, Luc, 2016. "Socially responsible firms," Journal of Financial Economics, Elsevier, vol. 122(3), pages 585-606.
    10. Satyajit Majumdar & Gordhan K. Saini, 2016. "CSR in India: Critical Review and Exploring Entrepreneurial Opportunities," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 2(1), pages 56-79, January.
    11. Canton, César G., 2012. "Empowering People in the Business Frontline: The Ruggie’s Framework and the Capability Approach," management revue - Socio-Economic Studies, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 23(2), pages 191-216.
    12. Becchetti, Leonardo & Ciciretti, Rocco & Hasan, Iftekhar, 2009. "Corporate social responsibility and shareholder's value: an empirical analysis," Bank of Finland Research Discussion Papers 1/2009, Bank of Finland.
    13. Yuan Ding & Thomas Jeanjean & Hervé Stolowy, 2013. "Accounting for Stakeholders or Shareholders? The Case of R&D Reporting," Post-Print hal-01002936, HAL.
    14. Francesco Gangi & Antonio Meles & Eugenio D'Angelo & Lucia Michela Daniele, 2019. "Sustainable development and corporate governance in the financial system: Are environmentally friendly banks less risky?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(3), pages 529-547, May.
    15. Yoshifumi Hino & Yusuke Zennyo, 2017. "Corporate social responsibility and strategic relationships," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 64(3), pages 231-244, September.
    16. Pies, Ingo & Hielscher, Stefan & Beckmann, Markus, 2008. "Corporate citizenship as stakeholder management: An ordonomic approach to business ethics," Discussion Papers 2008-4, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    17. Ali, Abdul & Mancha, Ruben & Pachamanova, Dessislava, 2018. "Correcting analytics maturity myopia," Business Horizons, Elsevier, vol. 61(2), pages 211-219.
    18. Francesco Gangi & Mario Mustilli & Nicola Varrone & Lucia Michela Daniele, 2018. "Corporate Social Responsibility and Banks’ Financial Performance," International Business Research, Canadian Center of Science and Education, vol. 11(10), pages 42-58, October.
    19. Fracarolli Nunes, Mauro & Lee Park, Camila & Shin, Hyunju, 2021. "Corporate social and environmental irresponsibilities in supply chains, contamination, and damage of intangible resources: A behavioural approach," International Journal of Production Economics, Elsevier, vol. 241(C).
    20. Simone Carmine & Valentina De Marchi, 2023. "Reviewing Paradox Theory in Corporate Sustainability Toward a Systems Perspective," Journal of Business Ethics, Springer, vol. 184(1), pages 139-158, April.
    21. Lai Van Vo & Huong Thi Thu Le & Youngbin Kim, 2023. "Board interlocks, career prospects and corporate social responsibility," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 4565-4595, December.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-01701768. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.