- Program
- Handouts
- Time, Date and Venue:
September 13th (Tue): Pearl Room (#1001), 10th Floor, Keidanren Kaikan
September 14th (Wed): Golden Room, 11th Floor, Keidanren Kaikan
(Otemachi 1-9-4, Chiyoda-ku, Tokyo) - Language:
Sept. 13th English (no interpretation available)
Sept. 14th Japanese / English (with simultaneous interpretation)
Agenda [September 13th, 2005]
Part 1: Academic Seminar
Opening Remarks:
YOSHITOMI Masaru (President and CRO, RIETI)Session 1: "Competing Models of Corporate Governance, and the Role of Boards"
| Session Chair: | |
 MIYAJIMA Hideaki (Faculty Fellow, RIETI / Vice Director of Waseda Institute of Finance, and Professor, Waseda University) |
|
| Presentation: | |
| "Employment Policy and Corporate Governance - An Empirical Comparison of the Stakeholder Versus the Profit -Maximization Model-" | |
 SHIMIZUTANI Satoshi (Faculty Fellow, RIETI/Associate Professor, Institute of Economic Research, Hitotsubashi University)Paper [PDF:138KB] Presentation [PDF:79KB] |
|
| "CEO Labor Markets, Incentives and the Shape of Managerial Contracts" | |
 Mariassunta GIANNETTI (Associate Professor, Department of Finance and SITE, Stockholm School of Economics, Sweden / Research Affiliate, Financial Economics Program, CEPR, UK)
Paper [PDF:326KB] Presentation [PDF:137KB] |
|
| "Corporate Performance, Board Structure and its Determinants in the Banking Industry" | |
 Renee Birgit ADAMS (Assistant Professor, Department of Finance, Stockholm School of Economics, Sweden/ Research Fellow, Swedish Institute for Financial Research, Stockholm, Sweden)
Paper [PDF:426KB] Presentation [PDF:117KB] |
|
KUBO Katsuyuki (Associate Professor, Waseda University School of Commerce)
XU Peng (Faculty Fellow, RIETI/Professor, Faculty of Economics, Hosei University)Session 2: "Ownership Structures and the Role of Foreign and Institutional Investors"
Jenny CORBETT (Executive Director, Australia-Japan Research Center, Australian National University, Australia / Reader in the Economy of Japan, Economics Department, University of Oxford, UK / Research Fellow, CEPR, UK)| Presentation: | |
| "Foreign Direct Investment: Who Cares About Ownership?" | |
 Colin MAYER (Peter Moores Professor of Finance, Said Business School, University of Oxford, UK / Fellow, CEPR, UK) |
|
| "Behavioural Biases of Institutional Investors under Pressure from Customers -Japan and Germany vs the US-" | |
 SUTO Megumi (Professor, Graduate School of Finance, Accounting and Law, Waseda University)Presentation [PDF:145KB] |
|
| "Evolution of Ownership: A Three Countries Comparison of the UK, Germany and Japan" | |
| Colin MAYER (Peter Moores Professor of Finance, Said Business School, University of Oxford, UK / Fellow, CEPR, UK) |
|
Christina AHMADJIAN (Professor, Hitotsubashi University Graduate School of International Corporate Strategy)
Vikas MEHROTRA (Associate Professor of Finance, School of Business, University of Alberta, Canada / Visiting Associate Professor of Finance, Institute of Economic Research, Hitotsubashi University)Session 3: " Banking Crises and Bank Regulation"
| Session Chair: | |
 TERANISHI Juro (Professor, Institute of Economic Research, Hitotsubashi University) |
|
| Presentation: | |
| "Japan's Banking Crisis: Who Has the Most to Lose?" | |
 Yishay YAFEH (Senior Lecturer, School of Business Administration and Department of East Asian Studies, Hebrew University of Jerusalem, Israel / Research Fellow, CEPR, UK)Presentation [PDF:141KB] |
|
| "Bank Regulation and Market Discipline Around the World" | |
 TSURU Kotaro (Senior Fellow, RIETI)Paper [PDF:189KB] Presentation [PDF:88KB] |
|
KOBAYASHI Keiichiro (Fellow, RIETI / Guest Editorial Writer, The Asahi Shimbun)
Yupana WIWATTANAKANTANG (Associate Professor, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University)Agenda [September 14th, 2005]
Session 4: " The Effects of M&A and Takeover Regulation "
| Session Chair: | |
| Yishay YAFEH (Senior Lecturer, School of Business Administration and Department of East Asian Studies, Hebrew University of Jerusalem, Israel / Research Fellow, CEPR, UK) |
|
| Presentation: | |
| "Payout Policy as a Protective Measure Against a Hostile Takeover: Has the Threat of a Takeover Improved the Management of the Target Firm?" | |
 SUZUKI Kazunori (Professor of Finance, Graduate School of International Accounting, Chuo University)Presentation [PDF:173KB] |
|
| "Takeover Regulation Reforms in Europe and Corporate Governance Convergence" | |
 Marc GOERGEN (Professor of Finance, Sheffield University Management School (SUMS), UK)Paper [PDF:290KB] Presentation [PDF:313KB] |
|
| "Did Efficiency Improve? Megamergers in the Japanese Banking Sector" | |
 HARADA Kimie (Associate Professor, Graduate School of International Accounting, Chuo University)Paper [PDF:1,079KB] Presentation [PDF:102KB] |
|
Part 2: Open Symposium: "Corporate Governance in Japan and Europe: Focusing on the Role of Market for Corporate Control"
| Conference Chair: | |
| TSURU Kotaro (Senior Fellow, RIETI) |
|
| Keynote Speech: | |
| "Corporate Governance: Mobility and Convergence" | |
| Colin MAYER (Peter Moores Professor of Finance, Said Business School, University of Oxford, UK / Fellow, CEPR, UK) Paper [PDF:278KB] |
|
| "Changing J-type Firms and the Role of M&A in Corporate Governance" | |
| MIYAJIMA Hideaki (Faculty Fellow, RIETI/Vice Director of Waseda Institute of Finance, and Professor, Waseda University) Paper [PDF:414KB] Presentation [PDF:189KB] |
|
Panel Discussion "Takeover Regulation: Lessons from Europe"
KUSAKABE Satoshi (Former Director, Industrial Organization Division, Economic and Industrial Policy Bureau, METI)
OKITSU Makoto (Chairman and Representative Director, Teijin Limited)
Paul SHEARD (Managing Director and Chief Economist Asia, Lehman Brothers Japan Inc)Closing Remarks:
OIKAWA Kozo (Chairman, RIETI)
