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The purpose of the present study is to explore the factors that influence the residential location choice of households in the Indian context.

Two sub-urban towns of Kolkata, i.e. Biddhanagar Municipal Corporation and Rajarhat Newtown, are taken as case studies. In total, 34 variables are considered related to the household's socioeconomic background (10), dwelling (3), travel (2) and level of importance of neighborhood characteristics (19). A revealed preference household survey is conducted, which resulted in the collection of 390 samples. Firstly, 19 level of importance variables are deduced to 3 latent factors using exploratory and confirmatory factor analysis. After that, a utility function is estimated using a multinomial logit regression to identify significant factors.

The results indicate the significance of car ownership, work travel time, work mode, monthly income, proximity to work, proximity to family/relative/friends, proximity to quality schools, quality of physical infrastructure such as water availability, power availability and housing typology among others in the residential location choice of households.

Kolkata, a major metropolitan area in eastern India, has been experiencing space constraints to cater to the housing demand of the ever-increasing population. Although satellite towns are being developed, the infrastructure landscape in such towns is uneven, resulting in more housing demand in one area than another. The study furnishes significant findings to develop more informed policies to attract households in low-demand areas and manage high-demand areas to achieve sustainable planning.

Considering the importance of geographical context, it is the first study on residential location choice, providing a perspective of household behavior from eastern India. It also shows the importance of physical infrastructure attributes in residential location choice for developing countries, which is seldom employed in the current practice. Moreover, previous studies (although few) done in India consider the objective value of location characteristics. The present study focuses on subjective value or the level of importance perceived by respondents.

Building on the institutional theory perspective on corporate governance change and based on interviews with investor relations (IR) managers in large Japanese companies, this study aims to examine Japanese IR managers’ perceptions of the influence of foreign shareholders on Japan’s corporate governance reform and stakeholder-based system. The paper examines tensions, conflicts and collaborations among different stakeholders involved in corporate governance changes in Japan, especially in the areas of firm ownership, employment relations and boards of directors. The paper explains why convergence does not happen in some large Japanese companies by investigating Japanese managers’ responses to and perceptions of foreign shareholders in multiple corporate contexts.

The author conducted in-depth interviews with ten IR managers at large, listed Japanese companies in Kyoto and Tokyo and two managers at foreign investment banks in Tokyo, between 2018 and 2021.

This paper explores five themes that emerged from my interviews: Chief executive officers’ (CEOs’) mixed perceptions of foreign investors, the effectiveness of CEO compensation and outside directors, managers’ reluctance to accept stock price-driven business strategies, foreign investors’ engagement vs investments in index funds and gender patterns, including the effectiveness of token female outside directors. The Japanese companies the author looked at incorporated foreign shareholders as consultants and adopted a few major shareholder-based customs, such as CEOs communicating with investors, having outside directors, increasing CEO compensation and slimming down unprofitable parts of the business via restructuring and downsizing. Simultaneously, they resisted a few major shareholder-based practices. Foreign shareholders’ pressure revealed tensions and contradictions between the Japanese stakeholder system and shareholder primacy-based customs.

This paper is one of the few qualitative studies that explores Japanese IR managers’ responses to and perceptions of foreign shareholders in corporate governance reform, with a particular focus on ownership, employment relations and board members. This paper provides examples of tension, conflict and cooperation between Japanese managers and foreign investors, as seen through the eyes of Japanese IR managers. Examining changes in Japan’s stakeholder-based system of corporate governance reform enables us to better understand the processes by which, with vigorous pressure from government and foreign shareholders, a non-western country like Japan may adopt shareholder-based customs and how such a change may also lead to institutional changes.