Curtis J. Milhaupt and Mark D. West

in Economic Organizations and Corporate Governance in Japan

Published in print June 2004 | ISBN: 9780199272112
Published online August 2004 | e-ISBN: 9780191601316 | DOI:

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Chapters 5 and 6 examine the dark side of Japanese economic institutions. Discusses the unusual and problematic form that shareholder activism has traditionally taken in Japan—professional disturbers of shareholders meetings, or ‘sokaiya’. Again we see the impact of institutions on behaviour, as the workings of the sokaiya are directly linked to the quality of corporate information disclosure in Japan, a function of the institutional environment in which Japanese firms operate.

Keywords: corporate information disclosure; economic institutions; Japan; shareholder activism; sokaiya

Chapter.  18192 words. 

Subjects: Financial Markets

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