일본의 메인뱅크제도와 기업지배구조의 변화

As Japan proceeded the financial liberalization and the change of the financing structure in the 80’s along with invest in equipment, they were able to do direct financing through the financing market for companies to raise funds in order to investment equipment, rather than the indirect financing from the mainbank like they did before. Due to that fact, the importance of the mainbank, Japans leading financial system, is losing its credibility. The transitional process of the mainbank system and cross-shareholding relationship is studied through the corporate governance structure, which appeared in the progress of rapid economic growth in Japan. And the goal is to analyze the changes in evaluations, especially on the mainbank. For this the precedent study will be analyzed and the general concept of what the mainbank is explained. Along with that, the changes in corporate governance in Japan are investigated by the relationship it was formed with the mainbank and cross-shareholdings. After that, the change of corporate governance in Japan was researched through the positive and negative evaluations of the mainbank. In conclusion, the mainbank system in Japan used the before and after function of corporate governance to ease financing constraints and led the rapid economic growth in Japan by even reducing the under and over-investments as well.