The value of outside directors : Evidence from corporate governance reforms in Japan

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  • 社外取締役導入促進に関するガバナンス改革と市場反応
  • シャガイ トリシマリヤク ドウニュウ ソクシン ニ カンスル ガバナンス カイカク ト シジョウ ハンノウ

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This paper examines stock market reactions to the revision of the Japanese Companies Act in 2014 and the implementation of Japan's corporate governance code in 2015. Article 327(2) in the revised Companies Act mandates that listed firms either appoint at least one outside director or disclose the reason for nonadoption at the annual shareholders meeting. ...

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  • 経営研究

    経営研究 72 (4), 75-88, 2022-02-28

    大阪市立大学経営学会

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