Purpose: Principal–principal conflicts between family shareholders and other shareholders have been investigated in emerging economies, but fewer studies have examined the effect of concentrated ownership on firm profitability and dividend payout in stakeholder-oriented systems. The purpose...

This paper examines the relationship between the level of Japanese business managers' compensation and the quality of corporate governance, and whether weaker governance structures lead to poorer future performance. The conclusions of this paper are as follows. First, the level of Japanese...

The recent global financial crisis contributes for recognizing the importance of corporate governance mechanisms in the banking industry. Although mixed evidence is associated with the role of board of directors in non-financial industries, a few analyses have been made of the relation between...