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Japan is characterized by its businesses older than 100 years, commonly known as shinise (老舗) – long-standing companies – which tend to be family businesses. Longevity in Japanese family businesses has been attributed, among other factors, to the system of the ie, or patrilineal household line. This chapter follows a sociocultural perspective and uses documental and media textual analysis to identify the cultural and structural attributes and the strategies that shinise have implemented when facing new and intimidating economic, political, and social circumstances under extreme contexts such as wars, structural changes, and national catastrophes and crises while protecting the family structure behind the firm. It is found that, for these firms, the ie comes first than individuals, and so does talent over lineage. The relevance of someone who shares the values that resonate with those of the business is imperative, but also that the leader has a resilient character and an innovative and proactive mind, and understands that his/her major purpose should be protecting the firm and securing its continuity.

A typical Japanese family firm tends to be small and resilient over generations. Some of the activities and practices of such firms provide valuable information about the persistence of family businesses. Through the narratives of a couple who run a 100-year-old family firm in Japan, this chapter explicates how and why they succeeded in the bold transformation of their business during times of adversity.

The couple proposed two different stories about the four business model innovations throughout the firm’s history. Even though this innovation process can be explained as “entrepreneurship,” it is more deeply understood by focusing on the social aspects of “family.” The couple innovated their business using householding practices that supported their kin, employees, and community, with an ideal of perpetuity rather than of the maximization of profit. These practices gave meaning to the firm’s existence and its need to survive.

The household is a competing term for family, being broadly defined by the dimensions of its forms, activities, and values. This study focuses on the householding perspective, showing how and why householding practices drive business model innovations in Japanese settings. To conclude, the distinctive inclusiveness of householding, in terms of membership and leadership, is also explored.

This paper is ambitious. Its central purpose is to examine how a number of developed economies, plus the largest developing economy, vary in terms of corporate governance: USA, Japan, Germany, UK, France, Italy, South Korea, Taiwan, Sweden, Switzerland and mainland China. We understand corporate governance in a very broad sense, descriptive not prescriptive: as who controls and influences firms, and how. We are thus dealing very much with varieties of capitalism. In a sense, we shall be seeking to characterise national systems of corporate governance, but we must stress that our concern is always with the situation of the individual firm. We shall find it convenient most of the time to give one label to a country's whole economy, but this will always be an approximation, which conceals variations among that country's firms. At other points, we shall distinguish types of firm and indicate the rough proportions of each type in a particular economy.

This study explores the manner in which gender inequality in the transition into self-employment is associated with the institutional contexts of family and labour market structures in the East Asian countries of Japan, Korea and Taiwan. This work contributes to theoretical debates on gender inequality and entrepreneurship because prior research on female self-employment has lacked a theoretical viewpoint on the mechanisms by which conditions for female entrepreneurship depend on the macro-structural arrangements of family and labour markets. By evaluating female employment in light of the patriarchal Confucian ideology, I examine gender disparities among individuals in terms of effects of paternal self-employment, their experiences as family workers and their marital status on their transition into self-employment. The results of this study show that women in Japan and Taiwan do not benefit from the self-employed status of their fathers as much as their male counterparts. Additionally, female family workers in the three countries had considerable disadvantages in becoming self-employed, which implies that female family workers continue to be exploited by self-employed owners, namely, their husbands. In contrast, the effects of marital status, with both sexes, on their transitions into self-employment differed widely among the three countries, reflecting the various barriers to self-employment and the differing conditions for female employment in each country. Overall, this study demonstrates that gender inequality in the transition into self-employment is related to family structures unique to these East Asian countries. This study, however, did not compare the dynamics of self-employment between East Asian societies and other industrialised nations. Future studies should explore whether the findings of this study are applicable to other industrialised societies.

While mentoring plays an important role in Japanese working places, formal mentoring programs have only recently been introduced. This chapter provides an overview of the development of mentoring in Japan and presents a conceptual model to comprehend mentoring in Japan and beyond. The chapter begins with the illustration of how the characteristics of Japanese organizations and Japanese-style human resource management (HRM) promoted the naturally occurring informal mentoring in the Japanese workplace in early years. In response to the stagnating economy and declining demographics during the last few decades, many Japanese firms adopted Western-style HRM practices, including formal mentoring programs. We provide statistical data to demonstrate the widespread adoption of formal mentoring programs in recent years. We then report the results of the systematic review of the academic literature on mentoring in Japan, suggesting that research on mentoring in Japan is still in the early stage. Based on the historical overview, current data and the systematic review of the academic literature, we develop a conceptual model of how the socio-cultural and economic context as well as organizational characteristics influence the adoption of Japanese-style naturally occurring informal mentoring and/or Western-style formal mentoring practices. We conclude this chapter with practical and theoretical implications.

Business groups often contain banks or near banks that can protect group firms from economic shocks. A group bank subordinate to other group firms can become an “organ bank” that selflessly bails out distressed group firms and anticipates a government bailout. A group bank subordinating other group firms can extend loans to suppress their risk taking to default risk, preserving risk-averse low-productivity zombie firms. Actual business groups can fall between these polar cases. Subordinated group banks magnify risk taking; subordinating group banks suppress risk taking; yet both distortions promote business group firms’ survival. Limiting intragroup income and risk shifting, severing banks from business groups, articulating Business Group Law, or dismantling business groups may mitigate both distortions but also limits business groups’ internal markets, which are thought to be important where external markets work poorly.

Globalization has brought about migration and the transnational movement of people from different backgrounds, cultures, ethnicities, using different languages, and has thereby facilitated intercultural interaction and re-interpretation of lived experiences. Gender research in accounting is also influenced by globalization, which has created a platform where different cultures can meet and interact, and where knowledge can be synthesized from the work of authors from various different countries. Building on my own research experiences and their outcomes, this study examines the globalization of gender research in accounting by tracing the development of research on the relationship between Japanese women and accounting. The experiences of Japan highlight that knowledge in accounting, including gender-in-accounting studies, historically flows from West to East. The language, concepts and framework in existing Western-led accounting studies translate and visualize the history and phenomena in a Japanese context to be shared within the international accounting arena.

This study demonstrates that this process provides a body of interesting evidence from Japanese contexts in the fields of history, household accounting and professionalization. Accounting played an enabling role for women in Japan, while positioning women to act as catalysts for social change. Questions arise regarding the potential for such findings (from the East) to flow to the West and be accorded equal status to Western-led accounting research. The study concludes by discussing, in terms of achieving sustainable and innovative knowledge creation in accounting, the importance of herstory in understanding local culture and its integration into ‘global’ academic research.

To determine what role overconfidence plays in the forced removal of CEOs internationally.

The study makes use of the Fortune Global 500 list.

We find that overconfident CEOs face significantly greater hazards of forced turnovers than their non-overconfident peers. Regardless of important differences in culture, law, and corporate governance across countries, overconfidence has a separate and distinct effect on CEO turnover. Overconfident CEOs appear to be at greater risk of dismissal regardless of where in the world they are located. We also discover that overconfident CEOs are disproportionately succeeded by other overconfident CEOs, regardless of whether they are forcibly removed or voluntarily leave office. Finally, we determine that the dismissal of overconfident CEOs is associated with improved market performance, but only limited enhancement in accounting returns.

This study is unique with its examination of overconfidence among global CEOs rather than being limited to U.S. chief executives. It also provides insight into how overconfidence is related to national cultures, legal systems and corporate governance mechanisms.