Unstash the Cash! Corporate Governance Reform in Japan
Electronic Access:
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Summary:
Japan’s high corporate savings might be holding back growth. We focus on the causes and consequences of the current corporate behavior and suggest options for reform. In particular, Japan’s weak corporate governance—as measured by available indexes—might be contributing to high cash holdings. Our empirical analysis on a panel of Japanese firms confirms that improving corporate governance would help unlock corporate savings. The main policy implication of our analysis is that comprehensive corporate governance reform should be a key component of Japan’s growth strategy.
Series:
Working Paper No. 2014/140
Subject:
Corporate governance Currencies Economic sectors Financial institutions Financial markets Market capitalization Money Stocks
English
Publication Date:
August 4, 2014
ISBN/ISSN:
9781498378253/1018-5941
Stock No:
WPIEA2014140
Pages:
24
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