RIETI-ECGI-WBF Webinar Series

A New Concept of the Corporation [Part 3]
Ownership of the New Corporation: the Role of Activist Funds


Over the last few years, and particularly since the onset of COVID-19, the purpose of the corporation has been the subject of active debate. In place of shareholder value maximization, new definitions of corporate purpose have been proposed, and their implications for law, regulation, ownership, governance, measurement and performance of business have been much discussed.
On the occasion of the publication of the Japanese translation of Colin Mayer's book "Prosperity: Better Business Makes the Greater Good" in March 2021, RIETI, WBF and ECGI came together to organise a webinar series on the new concept of the corporation, the EU/UK experience and its lessons for Japanese corporate governance reforms. In this 3rd webinar, Professor Mayer and Professor Julian Franks will hold a discussion under the theme of "Ownership of the New Corporation: the Role of Activist Funds".

Please note that this seminar will start at 4:00 pm (JST).

This webinar is held as the 3rd round of a series of 5 webinars.

1st round webinar
2nd round webinar


  • Time and Date: 4:00 pm - 5:30 pm (JST), 8:00 am - 9:30 am (BST), 9:00 am - 10:30 am (CEST), May 20, 2021
  • Venue: Online (YouTube)
  • Language: English
  • Admission: Free
  • Hosts: Research Institute of Economy, Trade and Industry (RIETI), European Corporate Governance Institute (ECGI), Waseda University Institute for Business and Finance (WBF)
  • Contact: Ms. YUHARA, Conference Section, RIETI


  • Speaker: Colin MAYER (Peter Moores Dean, Saïd Business School, University of Oxford)

    Colin Mayer is the Peter Moores Professor of Management Studies at the Saïd Business School at the University of Oxford. He is a Fellow of the British Academy, the Centre for Economic Policy Research and the European Corporate Governance Institute, a Professorial Fellow of Wadham College, Oxford and an Honorary Fellow of Oriel College, Oxford and St Anne's College, Oxford. He is a member of the Board of Trustees of the Oxford Playhouse, and he was a member of the UK Government Natural Capital Committee, the UK Competition Appeal Tribunal and the International Advisory Board of the Securities and Exchange Board of India. He was chairman of Oxera Ltd. between 1986 and 2010 and a director of the energy modelling company, Aurora Energy Research Ltd between 2013 and 2020. He was appointed Commander of the Order of the British Empire (CBE) in the 2017 New Year Honours. He leads the British Academy enquiry into "the Future of the Corporation" and his most recent book Prosperity: Better Business Makes the Greater Good is published by Oxford University Press.

  • Speaker: Julian FRANKS (Professor of Finance, London Business School / Fellow, Research Member, ECGI)

    BA Sheffield (1968), MBA Columbia University (1969), PhD London University (1979). Professor Franks was previously visiting professor at the University of North Carolina at Chapel Hill, and the University of California at both Berkeley and Los Angeles. His publications include works on takeovers, European corporate restructuring, financial regulation, corporate bankruptcy, and ownership and control. Professor Franks was a member of joint DTI-Treasury working party reviewing the insolvency code and of the Company Law Review's working party examining corporate governance. He is associate editor of Journal of Empirical Finance, European Journal of Financial Management, Journal of Corporate Finance, and the Journal of Financial Services Research.

  • Commentator: NAKAGAMI Yasunori (Consulting Fellow, RIETI / Representative Director and Chief Executive Officer, Misaki Capital Inc.)
  • Commentator: Friederike HELFER (Partner at Cevian Capital / Representative Institutional Member, ECGI)
  • Moderator: MIYAJIMA Hideaki (Faculty Fellow, RIETI / Professor of Japanese Economy, Graduate School of Commerce, Waseda University / Executive Vice President, Waseda University / Adviser, Waseda Institute for Advanced Study)
  • Moderator: WATANABE Tetsuya (Vice President, RIETI)