Corporate Law Reform and the Political Environment

An Empirical Analysis Employing Public-Comment Procedure Data in Japan

Bibliographic Data

ID3793300
AuthorsHatsuru Morita (0000-0003-2714-7806)
Year2017
Volume4
Issue2
Pages309-328
Publication date2017-11-01
Open AccessYes
TypeARTICLE
VenueAsian Journal of Law and Society (JOURNAL)
Journal identifiersISSN: 2052-9015 • E-ISSN: 2052-9023
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/als.2017.11
OpenAlexW3121310081
LanguageEN
References cited5

Corporate law shapes the fundamental business environment and affects various stakeholders. It is possible to determine the behaviour of various stakeholders by examining the politics of the reform process of corporate law. In order to understand the process, this paper uses the notice-and-comment procedure (public-comment procedure). Under this procedure, people submit comments to the Ministry of Justice; some of the comments are reflected in the final Bill, while others are not. The paper performs a quantitative analysis of a hand-collected dataset from two recent public-comment procedures on corporate law reform. The results showed that the bureaucrats are rigid and not willing to take public comments seriously. However, on some technical issues, legal academics, and legal professionals influence the behaviour of the bureaucrats. In addition, the bureaucrats employed these comments to honour the technical views of professionals. In other cases, corporate managers significantly influence the reform process

Business · Corporate governance · Corporate law · Economic Justice · Economics · Honour · Law and economics · Management · Notice · Order (exchange · Political science · Politics · Process (computing · Public law · Sociology · Stakeholder · Comparative and International Law Studies · Computer Science · Corporate Insolvency and Governance · Law · Public Administration

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