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The evolution of the monitoring board in Japan: how the board performs monitoring function in Japanese corporate governance

机译:日本监事会的演变:监事会如何在日本公司治理中履行监督职能

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Purpose - The purpose of this paper is to trace a legal evolution of the monitoring board and to reveal what brought the evolution and what is expected to emerge. The paper points to unique complementarities in Japanese corporate governance institutions and norms which will affect how the monitoring board performs its functions. Design/Methodology/Approach - Analysis is based on texts on corporate governance legislations in Japan from the revision of Commercial Code in 1950 to the revision of Companies Act in 2014. Other sources include Tokyo Stock Exchange regulations, White Paper on Corporate Governance and other academic literatures on Japanese corporate governance. Findings - Changes of non-legal institutions and norms in Japanese corporate governance necessitated legal reforms toward the monitoring board. Persisting institutions and norms, in particular lifetime employment, influences how the monitoring board performs its functions in Japan. Originality/Value - This paper explains how the evolution of the monitoring board in Japan emerged and what will cause different expected functions of the monitoring board in Japan and other jurisdictions.
机译:目的-本文的目的是追踪监督委员会的法律演变,并揭示带来了这种变化的原因以及预期会出现的变化。本文指出了日本公司治理机构和规范中的独特互补性,这些互补性将影响监督委员会履行职能的方式。设计/方法/方法-分析是基于从1950年的《商业法规》修订版到2014年的《公司法》修订版,日本有关公司治理法规的文本。其他资料包括东京证券交易所的法规,《公司治理白皮书》和其他学术著作有关日本公司治理的文献。调查结果-日本公司治理中非法律机构和规范的变化,有必要对监察委员会进行法律改革。持久的机构和规范,特别是终身雇佣制,会影响监督委员会在日本履行职能的方式。原创性/价值-本文解释了日本监督委员会的演变是如何产生的,以及是什么导致了日本和其他司法管辖区监督委员会预期功能的不同。

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