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《Contemporary Economy of Japan》 2007-02
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An Analysis of the Efficiency of Japanese Independent Director System

WANG Shi-quan1 LIU Jin-yan2(1.School of Business Administration,Northeastern University,Liaoning Shenyang,110004;2.School of Business Administration,Shandong Institute of Economy,Shandong Jinan,250011,China)  
The amendment of Japanese Commercial Law formally transplants the independent director system,making it possible for the companies to choose the model of their corporate governance.This paper first reviews the institutional background of Japan’s independent director system,and thus develops a model to analyze its efficiency.The implementing practice is furthermore examined.The research shows although there still exist doubts on the role of the independent director system in Japan,the efficiency of its introduction is cleared confirmed.As a general rule,the choice of governance type should accord with the policy direction,while ensuring initiatives and self-organization of the firms.It is also argued that the decision of governance type choice should be made by the enterprises themselves in a trial-and-error process,and the ideology held by the supervisor should be that of the “invisible hand”.
【Fund】: 教育部哲学社会科学研究攻关项目“中国民营经济制度创新与发展问题研究” 项目编号:03JZD0018;; 国家自然科学基金项目“中国公司治理及其评价研究” 项目编号:70532001
【CateGory Index】: F279.313
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