Premium
Corporate Governance Structure and Employment Adjustment in Japan: An Empirical Analysis Using Corporate Finance Data
Author(s) -
Abe Masahiro
Publication year - 2002
Publication title -
industrial relations: a journal of economy and society
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.61
H-Index - 57
eISSN - 1468-232X
pISSN - 0019-8676
DOI - 10.1111/1468-232x.00269
Subject(s) - corporate governance , shareholder , business , stock market , debt , corporate finance , stock (firearms) , financial system , monetary economics , accounting , economics , finance , mechanical engineering , paleontology , horse , engineering , biology
I investigate the influence of corporate governance structures on employment adjustment in Japanese firms, using financial data for firms listed on the Japanese stock market. The results indicate that corporate governance structures affect the rate of employment adjustment. The presence of large stockholders and the degree of stock cross–holding lengthens the period the firm remains in debt and slows down the speed of employment adjustment.