Free Event : Members have registration priority through September 23; Open to all after this date.
(courtesy of the US-Japan Research Institute (USJI)
Katsuyuki Kubo, Ph.D.
Professor of Business Economics Waseda University, JAPAN
"The Effect of Corporate Governance Reform on the Japanese Economy”
The USJI (US-Japan Research Institute), Embassy of Japan, along with the National Economists Club cordially invites you to attend this presentation.
There are many differences between large Japanese firms and their western counterparts. For example, long-term employment and stakeholder oriented corporate governance are considered to have distinct characteristics in Japan. It was once argued that those characteristics contribute to the performance of firms, in particular, in manufacturing sectors. However, these characteristics are considered to be more of a problem rather than the source of competitiveness.
Some firms try to reform their corporate governance in order to increase productivity. In addition, several laws were introduced or amended, such as the Financial Instruments and Exchange Law and the Company Act. These institutional changes were introduced to make it easier for firms to conduct mergers and acquisitions through capital markets.
Dr. Kubo will examine the effect of those reforms on firm performance in Japan. In particular, he will analyze changes in board structures, top directors' financial incentives, restructuring of workforces, and mergers and acquisitions. It is of importance to examine the profitability of large firms to understand the long-term growth of Japanese economy.
Katsuyuki Kubo is a Professor of Business Economics at Waseda Univerisity. Dr. Kubo received his B.A. and M.A. from Keio University, and a Ph.D. from the London School of Economics. After serving as a Lecturer at Hitotsubashi University, he took up his present position, in which he teaches and undertakes research in the areas of compensation, corporate governance, corporate finance, and organizational economics. He has published articles on corporate governance in journals such as Corporate Governance: An international Review, Japanese Economic Review, and the Journal of the Japanese and International Economies.
Commentator: Ms. Alicia Ogawa
Alicia Ogawa is Senior Advisor at the Center on Japanese Economy and Business at Columbia Business School. Until 2006 she was Managing Director at Lehman Brothers, where she was responsible for managing the firm’s global equity research. She is also an Adjunct Associate Professor at Columbia University’s School of International and Public Affairs.
: 5:15 p.m.
Speech and Q&A:
: 6:30-7:00 p.m.
WRIT Conference Room (Basement, 2000 M Street, NW)