Appraising Japan's Appraisal Remedy
Bibliographic Data
| ID | 9528778 |
|---|---|
| Authors | Alan K Koh (0000-0001-6305-2877, National University of Singapore, corresponding author), Alan Koh |
| Year | 2014 |
| Volume | 62 |
| Issue | 2 |
| Pages | 417-460 |
| Publication date | 2014-04-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | The American Journal of Comparative Law (JOURNAL) |
| Journal identifiers | ISSN: 0002-919X • E-ISSN: 2326-9197 |
| Publisher | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.5131/ajcl.2014.0016 |
| OpenAlex | W3122419193 |
| Language | EN |
| Citations received | 1 |
| References cited | 7 |
Appraisal is making a comeback in Japan. Until recently, it was an underutilized and largely forgotten legal transplant introduced by the Americans during the Occupation Period (1945-1952). Following a major reform to Japan's corporate law with the enactment of the Companies Act in 2005, however, appraisal has drawn considerable academic attention and produced an unprecedented wave of appraisal litigation in Japan—much of it involving listed companies. The spotlight is now on appraisal's function as a check on managerial and controlling shareholder conduct—but why are shareholders turning to appraisal when they have other options? With a sophisticated concept of 'fair value' and litigated with unique 'non-contentious' procedures, Japan's appraisal is thoroughly Japanese—and effective compared to other shareholder remedies in Japan's Companies Act. The Japanese success with appraisal proves that appraisal can play a central role in modern corporate law and governance— at least within a certain corporate governance context. It is also a timely reminder that shareholder remedies need not (and probably should not) be unmodified American legal transplants, and that above all, local adaptations and context matter
Business · Context (archaeology) · Corporate governance · Corporate law · Critical appraisal · Economics · Function (biology) · Law and economics · Management · Performance appraisal · Political science · Shareholder · Value (mathematics) · Accounting · Corporate Insolvency and Governance · Corporate Law and Human Rights · Finance · History · Law · Legal principles and applications
| Unique citing works | 1 |
|---|---|
| Citations per year | 0,33 |
| Citation span | 2023 - 2023 (1) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 1 |