Masao Nakamura & Sven Tommi Rebien, “Corporate Social Responsibility and Corporate Governance: Japanese Firms and Selective Adaptation”

Working Abstract

Comparing some large Japanese and U.S. firms’ principles and approaches underlying their CSR activities as related to corporate governance practices, we find that while they share many similarities, there remain certain differences which arise primarily from the stakeholder welfare maximization principle which drives many Japanese firms in Japan’s business environment. Japanese firms may be pursuing selective adaptation in adopting CSR activities as well as how they approach CSR, notions of which are generally based on Western liberal norms and institutions. Further, given that both U.S. and Japanese firms’ CSR mandates signify the relevance of the corporations to their stakeholders, Japanese firms can be seen as having some advantages in this regards because of being traditionally rooted in a stakeholder-oriented business management style.

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