일본 대한투자기업의 지배구조가 진출기업에 미치는 영향 -３사(社)의 사례분석을 중심으로- = Impacts of Japanese Investing Companies` Governance Structures on the Invested Companies - Focused on the Case Studies of Three Companies

다국어 초록 (Multilingual Abstract)

This study selected three Japanese invested companies in Daegu, and conducted case studies so as to identify what governance structures have been used for corporate management by Japanese firms, which are known to use owner management mode conventionally, in a host country. Actually, this study closely examined the impacts of the change in governance structures of those three companies on their stability, profitability, and growth. As a result of the case studies, the Japanese companies use owner management mode, which is a Japanese style management mode, after the Asian financial crisis, despite a negative view that such an owner management mode does not fit free market logic. This phenomenon appears to derive from the perception that the U.S. style management mode (agent management mode) can no longer be in line with Japanese sentiment or culture, in fierce competition in the world market. It is also because the U.S. style corporate management activity is exposed through mutual stock holding and information exchange among companies within a corporate group, and individual manager`s activities are put under observation. Meanwhile, the Japanese style management mode (owner management structure) is to make a decision by the company owner`s direct participation in management; therefore, investment can be more aggressive in the fierce market preemptive age, and major decision making can be promptly made, which leads to easy initiation of active multinational corporate activities. Moreover, the positive roles of family enterprises are recently noted again in the industrialization process centered on large corporations, and the discussions of the roles and significances of such family enterprises are consistent in such a context. This study has found out that the Japanese style management mode fits the cultural tradition, and national sentiment of Korea, which is geographically and culturally close to Japan; consequently, Japanese invested companies can grow by more easily adapting to the Korean market.