Round Table: Hiromitsu Takemi - Institutions and the Role of Corporate Governance: A Perspective from Institutional Complementarity
The College of IS&T Round Table presents:
Professor, Dean, Ph.D. (Policy Studies)
Institutions and the Role of the Corporate Governance – A Perspective from Institutional Complementarity
Wednesday, October 1st, 2014
11:30 a.m. to 1:00 p.m.
(Talk starts at noon.)
Pizza and sodas provided on a first-come, first-served basis.
Please RSVP to Angela Nastase.
Very limited growth in advanced countries has been seen in last ten years and, on the contrary, developing Asian countries have enjoyed the amazing expansion of GDP. Per-capita GDP, on the other hand, of those countries still remains low, and one of driving forces to increase GDP is private corporations.
Balanced Score Card, one of firm performance measurement metrics, suggests the importance of balance among metrics, and vision and strategy is located at the center. Two prominent scholars in strategic management tell the followings: Structure follows strategy by Chandler, and strategy follows structure by Ansoff. If institutions do matter, the latter fits to the interest. It can be said that strategy follows social structure.
Institutions should qualify trust of society, and the context of trust is strongly influenced by culture. People tend to rely on legal remedy in common law countries, and to look for relationship based solution such as arbitration and accommodative settlement in civil law countries. These lead to the “one does not fit all” concept and the concept of institutional complementarity. Both formal and informal institutions affect the management of private corporations, and no one-fit-all navigation in corporate governance may be plausible.
This is a literature research paper, tentative and discussion purpose only, and it intends to summarize the various recent results in corporate governance and tries to present the relationship between the institutions and the role of corporate governance.
Prior to join the graduate school, Professor Takemi had about thirty years of banking and finance experience in two prominent financial institutions in Japan. The last fifteen years of his business career can be divided into three folds; they were investment banking, economic research, and risk control. He took an initiative for real estate securitization and project finance, and was an expert in interest rate risk control. He was also an initial member of a newly established bank and responsible for creating Anglo-Saxon Style governance, separation of execution and monitoring.
While being a lecturer of corporate governance and corporate finance, he is currently dean of the graduate school. He is also a member of the board of Sir Padampat Singhania University in Udaipur, India and visiting lecturer for many foreign universities. He wrote several books in the fields of finance and bank risk management, and used to be a regular contributor to a newspaper. He has MBA from University of Rochester in the US and Ph.D. in Policy Studies from Chiba University of Commerce in Japan. He also took the chance to participate in Advanced Management Program of Harvard Business School. His research interest falls on capital costs recognition process in management and its influence on corporate strategy, and cultural influence on the style and/or effectiveness of corporate governance in countries.