{"id":"https://openalex.org/W3036058449","doi":"https://doi.org/10.1111/eufm.12361","title":"Unnatural selection of outside directors: Consequences of Japanese corporate governance reforms","display_name":"Unnatural selection of outside directors: Consequences of Japanese corporate governance reforms","publication_year":2022,"publication_date":"2022-03-16","ids":{"openalex":"https://openalex.org/W3036058449","doi":"https://doi.org/10.1111/eufm.12361","mag":"3036058449"},"language":"en","primary_location":{"id":"doi:10.1111/eufm.12361","doi":"https://doi.org/10.1111/eufm.12361","is_oa":false,"landing_page_url":"https://doi.org/10.1111/eufm.12361","pdf_url":null,"source":{"id":"https://openalex.org/S131852005","display_name":"European Financial Management","issn_l":"1354-7798","issn":["1354-7798","1468-036X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-2","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"European Financial Management","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.2139/ssrn.3495129","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5079262080","display_name":"Souhei Ishida","orcid":"https://orcid.org/0000-0003-4551-178X","observed_orcids":["https://orcid.org/0000-0003-4551-178X"]},"institutions":[{"id":"https://openalex.org/I133557312","display_name":"Rikkyo University","ror":"https://ror.org/00x194q47","country_code":"JP","type":"education","lineage":["https://openalex.org/I133557312"]}],"countries":["JP"],"is_corresponding":false,"raw_author_name":"Souhei Ishida","raw_affiliation_strings":["College of Economics, Rikkyo University, Tokyo, Japan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"College of Economics, Rikkyo University, Tokyo, Japan","institution_ids":["https://openalex.org/I133557312"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5091552360","display_name":"Takuma Kochiyama","orcid":"https://orcid.org/0000-0001-7370-2730","observed_orcids":["https://orcid.org/0000-0001-7370-2730"]},"institutions":[{"id":"https://openalex.org/I111428342","display_name":"Hitotsubashi University","ror":"https://ror.org/04jqj7p05","country_code":"JP","type":"education","lineage":["https://openalex.org/I111428342"]}],"countries":["JP"],"is_corresponding":true,"raw_author_name":"Takuma Kochiyama","raw_affiliation_strings":["Graduate School of Business Administration, Hitotsubashi University, Tokyo, Japan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Graduate School of Business Administration, Hitotsubashi University, Tokyo, Japan","institution_ids":["https://openalex.org/I111428342"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5091552360"],"corresponding_institution_ids":["https://openalex.org/I111428342"],"apc_list":{"value":2950,"currency":"USD","value_usd":2950},"apc_paid":null,"fwci":2.1909,"has_fulltext":false,"cited_by_count":15,"citation_normalized_percentile":{"value":0.88298165,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":99},"biblio":{"volume":"29","issue":"2","first_page":"487","last_page":"516"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9951000213623047,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9951000213623047,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14102","display_name":"Corporate Governance and Law","score":0.0024999999441206455,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.0010999999940395355,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/independent-directors","display_name":"independent directors","score":0.968999981880188},{"id":"https://openalex.org/keywords/board-composition","display_name":"board composition","score":0.5529999732971191},{"id":"https://openalex.org/keywords/corporate-governance-reform","display_name":"corporate governance reform","score":0.8690000176429749},{"id":"https://openalex.org/keywords/japanese-corporate-governance","display_name":"Japanese corporate governance","score":0.6079999804496765},{"id":"https://openalex.org/keywords/auditor-switching","display_name":"auditor switching","score":0.3840000033378601},{"id":"https://openalex.org/keywords/compliance-costs","display_name":"compliance costs","score":0.7940000295639038},{"id":"https://openalex.org/keywords/board-structure","display_name":"board structure","score":0.4569999873638153},{"id":"https://openalex.org/keywords/listed-companies","display_name":"listed companies","score":0.7279999852180481}],"concepts":[{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.8663855195045471},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.7994047403335571},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.7226822376251221},{"id":"https://openalex.org/C199521495","wikidata":"https://www.wikidata.org/wiki/Q181487","display_name":"Audit","level":2,"score":0.661199688911438},{"id":"https://openalex.org/C81917197","wikidata":"https://www.wikidata.org/wiki/Q628760","display_name":"Selection (genetic algorithm)","level":2,"score":0.5615823268890381},{"id":"https://openalex.org/C2781460075","wikidata":"https://www.wikidata.org/wiki/Q1399332","display_name":"Compliance (psychology)","level":2,"score":0.48091408610343933},{"id":"https://openalex.org/C147007100","wikidata":"https://www.wikidata.org/wiki/Q3344190","display_name":"External auditor","level":4,"score":0.4433452785015106},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.200557678937912},{"id":"https://openalex.org/C170856484","wikidata":"https://www.wikidata.org/wiki/Q6452684","display_name":"Internal audit","level":3,"score":0.16087445616722107},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C154945302","wikidata":"https://www.wikidata.org/wiki/Q11660","display_name":"Artificial intelligence","level":1,"score":0.0},{"id":"https://openalex.org/C77805123","wikidata":"https://www.wikidata.org/wiki/Q161272","display_name":"Social psychology","level":1,"score":0.0},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1111/eufm.12361","doi":"https://doi.org/10.1111/eufm.12361","is_oa":false,"landing_page_url":"https://doi.org/10.1111/eufm.12361","pdf_url":null,"source":{"id":"https://openalex.org/S131852005","display_name":"European Financial Management","issn_l":"1354-7798","issn":["1354-7798","1468-036X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-2","norway-1","poland-100","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"European Financial Management","raw_type":"journal-article"},{"id":"doi:10.2139/ssrn.3495129","doi":"https://doi.org/10.2139/ssrn.3495129","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.3495129","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"}],"best_oa_location":{"id":"doi:10.2139/ssrn.3495129","doi":"https://doi.org/10.2139/ssrn.3495129","is_oa":true,"landing_page_url":"https://doi.org/10.2139/ssrn.3495129","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"posted-content"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/16","score":0.6601999998092651,"display_name":"Peace, justice, and strong institutions"}],"study_designs":[],"awards":[{"id":"https://openalex.org/G1932924822","display_name":"Empirical Research on Former CEO Advisors","funder_award_id":"23K20636","funder_id":"https://openalex.org/F4320334764","funder_display_name":"Japan Society for the Promotion of Science"},{"id":"https://openalex.org/G7796070338","display_name":"Managerial Ability in Japanese Firms","funder_award_id":"19K13848","funder_id":"https://openalex.org/F4320334764","funder_display_name":"Japan Society for the Promotion of Science"}],"funders":[{"id":"https://openalex.org/F4320334764","display_name":"Japan Society for the Promotion of Science","ror":"https://ror.org/00hhkn466"}],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":46,"referenced_works":["https://openalex.org/W167947545","https://openalex.org/W590291065","https://openalex.org/W1560342694","https://openalex.org/W1756009498","https://openalex.org/W1763629982","https://openalex.org/W1811815404","https://openalex.org/W1965278510","https://openalex.org/W2002084886","https://openalex.org/W2038368044","https://openalex.org/W2053345762","https://openalex.org/W2092710089","https://openalex.org/W2095682704","https://openalex.org/W2099969251","https://openalex.org/W2107812297","https://openalex.org/W2122866025","https://openalex.org/W2124572264","https://openalex.org/W2124701251","https://openalex.org/W2133341932","https://openalex.org/W2146637469","https://openalex.org/W2156311802","https://openalex.org/W2165521490","https://openalex.org/W2218810331","https://openalex.org/W2270307825","https://openalex.org/W2278800536","https://openalex.org/W2587807360","https://openalex.org/W2766214556","https://openalex.org/W2800954870","https://openalex.org/W2941357120","https://openalex.org/W2950869872","https://openalex.org/W3109684386","https://openalex.org/W3121239055","https://openalex.org/W3121930358","https://openalex.org/W3122026554","https://openalex.org/W3122178960","https://openalex.org/W3122209911","https://openalex.org/W3122470359","https://openalex.org/W3122577803","https://openalex.org/W3123025394","https://openalex.org/W3123941433","https://openalex.org/W3123956307","https://openalex.org/W3124140060","https://openalex.org/W3124317379","https://openalex.org/W3125633749","https://openalex.org/W3143200038","https://openalex.org/W3148775923","https://openalex.org/W4298413470"],"related_works":["https://openalex.org/W3188931856","https://openalex.org/W2945748089","https://openalex.org/W2560173324","https://openalex.org/W2277645316","https://openalex.org/W2270307825","https://openalex.org/W7218109336","https://openalex.org/W242820","https://openalex.org/W2942292519","https://openalex.org/W4410205707","https://openalex.org/W2576851903"],"abstract_inverted_index":{"Abstract":[0],"We":[1,19],"examine":[2],"how":[3],"Japanese":[4,91],"listed":[5],"companies":[6],"increase":[7,29],"the":[8,23,31,45,62,65,95],"number":[9,32],"of":[10,33,98],"outside":[11,42,59,71,99],"directors":[12,43,60,72],"to":[13,74,79],"comply":[14],"with":[15,57],"corporate":[16,77],"governance":[17],"reforms.":[18,63],"find":[20],"that,":[21],"after":[22],"reforms,":[24],"there":[25],"has":[26],"been":[27],"an":[28],"in":[30,35,44],"cases":[34],"which":[36],"former":[37],"company":[38,68],"auditors":[39,69],"(kansayaku)":[40],"become":[41],"same":[46],"company.":[47],"This":[48],"trend":[49],"is":[50],"more":[51],"pronounced":[52],"for":[53],"hitherto":[54],"noncompliant":[55],"firms":[56,66],"insufficient":[58],"before":[61],"Moreover,":[64],"appointing":[67],"as":[70],"tend":[73],"change":[75],"their":[76],"structures":[78],"maintain":[80],"existing":[81],"practices":[82],"and":[83],"minimize":[84],"compliance":[85],"costs.":[86],"Our":[87],"findings":[88],"imply":[89],"that":[90],"reforms":[92],"have":[93],"increased":[94],"unnatural":[96],"selection":[97],"directors.":[100]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":7},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":2}],"updated_date":"2026-11-09T13:22:03.289127","created_date":"2020-06-25T00:00:00"}
