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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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1 Liu Sha;China and Japan independent director system's comparison research[J];Special Zone Economy;2011-01
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【Citations】
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1 WU Jian-bin (School of Business, Nanjing University, Nanjing 210093, China);Experience and Revelation from the Introduction of Independent Director System of Japan[J];Journal of Nanjing University(Philosophy, Humanities and Social Sciences);2003-02
【Co-citations】
Chinese Journal Full-text Database 10 Hits
1 Ding Guo-feng,Wei Chun-ming;An Discussion on Improvement of Independent Director System in Listed Company of China[J];Journal of Anhui Vocational College of Electronics & Information Technology;2006-05
2 Jin Yuanwen (Hubei Institute for Nationalities,Enshi,Hebei 445000);Considerations on the Invalidate of Independent Directors System of Listed Companies[J];Communication of Finance and Accounting(Academy Version);2007-07
3 Yang Xiangyang(Huaiyin Institute of Technology,Huai'an,Jiangsu 223003);On the Encourage Mechanism and Effectiveness of the Independent Board Director's System of Listed Company[J];Reformation & Strategy;2009-03
4 DONG Xin-kai 1,XU Feng 2(1.Law School, Nanjing University, Nanjing 210094;2. Law School, Nanjing University of Science And Technology, Nanjing, 210094);Criticism on the Current Outside Directors System of China[J];Journal of Gansu Institute of Political Science and Law;2005-04
5 ZHANG Yu-ke,SHEN Fu-ping(College of Economics,Hebei University,Baoding 071002,China);Research on the Effectiveness of the Independent Director System in China[J];Journal of Hebei University(Philosophy and Social Science);2007-06
6 CAI Chuan-li;On the Choice and Optimization of Internal Corporate Governance for Listed Companies in China[J];Journal of Hebei University of Economics and Trade;2006-03
7 MA Xi-jun~1,LIU Jia~1,ZHANG Bao-ting~2(1.School of Management,Hefei University of Technology,Hefei 230009,China;2.Basic Teaching and Research Group of Anhui Medical College,Hefei 230001,China);Game Analysis of the Independent Director's System[J];East China Economic Management;2005-10
8 Liu Shanmin Lin Bin;Analysis of the Interest Relatives in Listed Companies' Guarantee Circle——“Hongyi series”as an Example[J];Journal of Shanghai Finance University;2007-01
9 GAO Zhi-hong (College of Humanities and Social Sciences,China University of Petroleum(East China),Dongying Shandong 257061);The Reflection and Reconfiguration of the Independent Director System in China[J];Journal of Yangtze University(Social Sciences);2007-05
10 ZHANG Fan(School of Law,Nanjing University of Finance and Economics,Nanjing 210003,China);On the Risk and its Prevention for the Oversea-IPO of Chinese Private Owned Enterprises while it Cooperating with the International PE[J];Journal of Nanjing University of Finance and Economics;2009-05
China Proceedings of conference Full-text Database 1 Hits
1 Minghui Li School of Business,Nanjing University,Nanjing,Jiangsu,China 210093;Convergence of Corporate Governance:An Analysis of the Introduction of Independent Director System to Continental Law Countries(regions)[A];[C];2009
【Co-references】
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1 DING Chun-gui(Department of Accounting,Guangdong University of Finance,Guangzhou,Guangdong,510635);Discussions on the Company Administration Committee System Based on Common Interests[J];Journal of Anhui University(Philosophy & Social Sciences);2007-03
2 WANG Zhi-ping,LI Zhi-ping(1.Faculty of Business Administration,Sapporo University,062-8520,Japan;2.School of Economics,AHUT,Ma'anshan 243002,Anhui,China);Japan's New Company Law: Evolvement,Background and Innovation[J];Journal of Anhui University of Technology(Social Sciences);2006-04
3 QIU Jin-hui~1,ZHANG Heng~2(1.School of Economics & Finance,Xian jiaotong University,Xian Shanxi 710061,China;2.ChengDu University of Information Technology,Chengdu Sichuan 610225,China);Studying Incentive to Independent Director System in China's Listed Companies in Post-equity Division[J];Research on Financial and Economic Issues;2006-09
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7 Qiao Jiuhua1,2,Lu Chunyan1,2,Li Minghui2(1.Jiangsu Fuhua Certified Public Accountant Ltd,Nanjing 210009,China;2.Nanjing University,Nanjing 210093,China);Transplant of Independent Director System in Common Law Countries (Districts)[J];Contemporary Economy & Management;2009-06
8 LI Jian-wei;10. Re-construction of the Independent Director Production Mechanism[J];Law Science (Journal of Northwest University of Politics and Law);2004-02
9 GAO Chuang 1 LIU Bing 2(1. Liaoning University, Shenyang 110036, China 2. China Coal Economic College, Yantai 264005, China);Institutional Basis,Evolving Mechanism and Governing Efficiency of Corporate Governance Agreement[J];China Industrial Economy;2003-01
10 Tan Jin-song (School of Business, Sun Yat-sen University, Guangzhou 510275,China);A Study on Independence of Independent Directors[J];China Industrial Economy;2003-10
【Secondary Citations】
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1 Wang Guohai (Fortune Securities Ltd Co.Hunan,Changsha,410079);The Efficency of Independent Direcor System:An Analysis from the View of Institutional Economics[J];The Theory and Practice of Finance and Economics;2003-01
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