Weak Corporate Governance Case Study

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Japan Weak Corporate Governance There are at least three areas that encompass ‘weak corporate governance’, 1. Multiple Prime Ministers from different parties 2. Inconsistent and ineffective policies and 3. Leadership. Multiple Prime Ministers: Since 2000, there have been 9 prime ministers in Japan. Nine continues years of leadership was represented from the Liberal Democratic Party (LDP), three short years were represented by the Democratic Party of Japan (DJP) and since December 2012 Prime Minister Shinzo Abe serves representing the LDP. The LDP and DJP have very different views—the DJP tends to be more pro-worker and the LDP tends to more pro-businesses. (Sieg, 2010). Prime Ministers tend to push for laws that are of the interest to their party and each Prime Minister may have a slightly different approach than their predecessor. It’s tough to see change plans keeps changing. Inconsistent and Ineffective Policies: An example of inconsistent policies was in 2010, when Prime Minister Hatoyama of the DJP, deregulated laws passed in 2004 that were put in place by the LDP. Three years later, today, the current Prime Minister Abe of the LDP, has a new and completely different plan to address stagnation. Again, it’s tough to see change when policies are inconsistent. Some policies have been ineffective. An example of an ineffective policies is when Prime Minister Hatoyama addressed the issue of companies hiring temporary workers with planned hiring limits. According to Richard Jerram, chief economist at Macquire Securities (Japan) limited, this policy would only exacerbated the problem. (Sieg, 2010). Another example of an ineffective policy is regulatory forbearance in the 1990’s. These regulations were designed to help ‘struggling’ ... ... middle of paper ... ...rently under the “one child policy” some families were having more than one child). (Reuters, 2013a).` Industrial Over Capacity-To address industrial over capacity, China’s Prime Minister Li Keqiang said that they would “strengthen environmental protection, energy consumption, and technology standards; abolish preferential policies; absorb some excess production capacity, and strictly control increases in production capacity.” (Roberts, 2014). China will also decreases obsolete excess capacity of steel, cement and plate glass. These actions should improve productivity. Aging Workforce-To address the aging work force slight changes have been made to the one child policy (previously mentioned), but in the short run there isn’t a lot that China can do now. Suggestions such as opening up immigration policy and increasing the child policy have been made. (Pozen, 2013).

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