Presentations at well-recognized academic conferences
Lifetime Advantage at the Top? The Norm of Lifetime Employment and CEO Succession in Japan, 13th Annual People and Organizations Conference, The Wharton School of the University of Pennsylvania (Online), October 2-3. 2020
||Jung, J., Mun, E., Ono, H.
- While much research has examined how corporate governance affects employment relations, the
present study is one of very few that explores how the latter affects the former. Specifically, we
examine how the changing nature of employment relations affects CEO succession in Japan.
While known for their strong norm of lifetime employment, Japanese firms began to depart from
it after the country's economic bubble burst in the early 1990s. We argue that the ensuing
transformation of employment relations has had a long-term impact on executive succession,
because it has altered the composition of groups competing for executive positions and fueled
intra-organizational power struggles. Analyzing careers of all executive board members at all
non-financial firms listed on the Tokyo Stock Exchange from 1992 to 2012, we find that despite
the weakening of the norm of lifetime employment, board members who were lifetime
employees (lifetimers) enjoyed some premium in the competition for CEO succession. The
relative advantage of this group, however, significantly declined in the 2000s. More strikingly,
outsiders, defined as those who joined the company as executive board members, came to enjoy
a larger premium than lifetimers, especially when the company's board consisted of few
lifetimers. Our analysis demonstrates the utility of studying CEO succession as part of the
broader labor market and as the result of cumulative processes that push up certain groups of
employees over others.
Taylor rule yield curve, European Economic Association Annual Congress 2020 Online, August 25, 2020
||Hattori, M., Mineyama, T., Nakajima, J.
The Effects of Diversity on New Product Creativity, 27th Innovation and Product Development Conference (IPDMC) , Online, June 7-9, 2020
||Suzuki, S., Takemura, K.