The real test for corporate governance structures occurs in periods of restructuring. The presentation will first outline the theoretical relation between governance structures and corporate restructuring. It will then discuss what the present phase of restructuring in Japanese industry can possibly teach us about governance structures of Japanese companies. Finally, some preliminary findings on the relationship between corporate governance, as manifested by the financial structure of Japanese companies, and restructuring directions and efforts will be presented.
Franz Waldenberger, currently Visiting Professor at the Institute for Social Science, University of Tokyo, is full professor for Japanese Economy - comparative economic and institutional studies at the Ludwig Maximilians University in Munich. Professor Waldenberger, who has been working as a research fellow and deputy director at the DIJ, is a well-known researcher in the field of corporate governance, and has published several books and articles on the Japanese economy.