Japanese Financial Instability and Weaknesses in the Corporate Governance Structure

• 발행기관: 서울대학교 경제연구소
• 저자명: Mitsuhiro Fukao
• 간행물 정보: 『Seoul Journal of Economics』Seoul Journal of Economics Volume 11 No.4, 381~422쪽, 전체 41쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 1998.12.31

영문 초록

The sudden collapse of major financial institutions in November 1997, which were subject to examination by the authorities and external auditors, brought about the extraordinary situation whereby financial institutions lost mutual trust in the soundness of business operations. The interbank money market started to malfunction and an intense credit crunch emerged. Japanese financial institutions, companies and Asian nations faced a severe tightening of bank credit. The biggest causes of this turmoil are the Japan's weak accounting system, and the excessive stock portfolio held by banks. To restore confidence in Japan's financial system, corporate governance of financial institutions must be overhauled.

목차

Abstract

Ⅰ. Preface

Ⅱ. The Bank as Shareholder and Main-Bank Relationships

Ⅲ. Reduction in Financial Institutions' Ability to Bear Risks and Need for Capital Market Reform

Ⅳ. Changes in Corporate Finance and Their Impact on Governance Structures

Ⅴ. Conclusion

References