Employees as Stakeholders: The Potential Role of Employees in Corporate Governance of Japan and USA

This study analyzed the differences of social responsibility and credibility of enterprisers across countries based upon the institutional view. In this process, specifically, we assessed the influences of cultural differences as an informal normative institution. The results proved that the social responsibility of enterprisers is affected by cultural differences across countries. In addition, it was found that the different performance of social responsibility can be explained by political institutional system, economical and educational conditions. It was also proved that the credibility of enterprisers is influenced by their performance of social responsibility. These results provide meaningful implications to Korean enterprisers whose credibility is considered very low.