Effective Corporate Governance And Financial Reporting In Japan
This paper examines corporate governance in Japan since the 1990s. Its focus includes financial reporting, a key part of good governance. It offers an overview of various legal, institutional, and stakeholder aspects of governance, followed by an investigation of Japanese accounting, disclosure,...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Asian Academy of Management (AAM)
2016
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| Subjects: | |
| Online Access: | http://eprints.usm.my/37378/1/aamjaf120s16_05.pdf |
| _version_ | 1825833649068572672 |
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| author | Rahman, Khondaker Mizanur Marc Bremer, Marc Bremer |
| author_facet | Rahman, Khondaker Mizanur Marc Bremer, Marc Bremer |
| author_sort | Rahman, Khondaker Mizanur |
| collection | USM |
| description | This paper examines corporate governance in Japan since the 1990s. Its focus includes
financial reporting, a key part of good governance. It offers an overview of various legal,
institutional, and stakeholder aspects of governance, followed by an investigation of
Japanese accounting, disclosure, and reporting. The paper presumes that accurate
financial reporting is a prerequisite for good corporate governance. Bad governance
often follows from fraudulent financial reporting. The paper also considers the status of
international financial reporting standards, the nature of fraudulent financial reporting,
the all-too-common practice of window dressing in Japan, the liabilities of corporate
audit board members and financial auditors. Our findings suggest that the existing high
quality laws, codes, guidelines, and institutional arrangements do improve corporate
governance. Yet in practice, the quality of corporate governance in Japan has not
matched the quality of its codes and regulations. The paper discusses Japan's new
corporate governance code. It concludes that this code is excellent, but that more needs
to be done to improve financial reporting. Finally, a number of suggestions are offered to
enhance corporate governance and reduce fraudulent reporting. |
| first_indexed | 2024-03-06T15:10:58Z |
| format | Article |
| id | usm.eprints-37378 |
| institution | Universiti Sains Malaysia |
| language | English |
| last_indexed | 2024-03-06T15:10:58Z |
| publishDate | 2016 |
| publisher | Asian Academy of Management (AAM) |
| record_format | dspace |
| spelling | usm.eprints-373782017-11-14T02:35:53Z http://eprints.usm.my/37378/ Effective Corporate Governance And Financial Reporting In Japan Rahman, Khondaker Mizanur Marc Bremer, Marc Bremer HD28-70 Management. Industrial Management This paper examines corporate governance in Japan since the 1990s. Its focus includes financial reporting, a key part of good governance. It offers an overview of various legal, institutional, and stakeholder aspects of governance, followed by an investigation of Japanese accounting, disclosure, and reporting. The paper presumes that accurate financial reporting is a prerequisite for good corporate governance. Bad governance often follows from fraudulent financial reporting. The paper also considers the status of international financial reporting standards, the nature of fraudulent financial reporting, the all-too-common practice of window dressing in Japan, the liabilities of corporate audit board members and financial auditors. Our findings suggest that the existing high quality laws, codes, guidelines, and institutional arrangements do improve corporate governance. Yet in practice, the quality of corporate governance in Japan has not matched the quality of its codes and regulations. The paper discusses Japan's new corporate governance code. It concludes that this code is excellent, but that more needs to be done to improve financial reporting. Finally, a number of suggestions are offered to enhance corporate governance and reduce fraudulent reporting. Asian Academy of Management (AAM) 2016 Article PeerReviewed application/pdf en http://eprints.usm.my/37378/1/aamjaf120s16_05.pdf Rahman, Khondaker Mizanur and Marc Bremer, Marc Bremer (2016) Effective Corporate Governance And Financial Reporting In Japan. Asian Academy of Management Journal of Accounting and Finance, 12 (1). pp. 1-31. ISSN 1823-4992 http://web.usm.my/journal/aamjaf/12-s-5-2016.html |
| spellingShingle | HD28-70 Management. Industrial Management Rahman, Khondaker Mizanur Marc Bremer, Marc Bremer Effective Corporate Governance And Financial Reporting In Japan |
| title | Effective Corporate Governance And
Financial Reporting In Japan |
| title_full | Effective Corporate Governance And
Financial Reporting In Japan |
| title_fullStr | Effective Corporate Governance And
Financial Reporting In Japan |
| title_full_unstemmed | Effective Corporate Governance And
Financial Reporting In Japan |
| title_short | Effective Corporate Governance And
Financial Reporting In Japan |
| title_sort | effective corporate governance and financial reporting in japan |
| topic | HD28-70 Management. Industrial Management |
| url | http://eprints.usm.my/37378/1/aamjaf120s16_05.pdf |
| work_keys_str_mv | AT rahmankhondakermizanur effectivecorporategovernanceandfinancialreportinginjapan AT marcbremermarcbremer effectivecorporategovernanceandfinancialreportinginjapan |