Corporate Morality of Capitalism (1) Introduction : This paper points out Several Problems concerning the corporate morality of Capitalism (2) Approaches to Studying Morality (3) Today's ignificance of Adam Smith's "conception of Self-Interest" (4) Adam Smith 'Mistake, by K. Lux

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In the early years of Meiji Period (1868-1912), Japanese companies kept legal reserves from profits, and distributed the remaining to stockholders and directors as dividends and bonuses. Therefore, dividend yields tend to be changeable, but at a higher rate than today. Since the end of World War II, 'stabilizing dividends 'has prioritized and been taken as virtue, although this resulted in lowering its yield. Tokyo Style is one of the typical companies that adopted 'stabilizing dividends' manner. At its annual general meeting in May 2002, stockholders proposed the company to distribute retained profits that had accumulated for many years.The company was able to reject the plan by a narrow majority, but the question on appropriation of profits remained. So far, companies have fixed dividend yields at a comparatively low rate and vaguely recognized the difference of profits and dividends payable as retained profits. However, when a loss arises from assets purchased with this profits, it is not clear who is responsible for the loss. Therefore in the future, decisions on the amount of retained profits should come before dividends to resolve this matter.

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Japanese business leaders are likely to be absorbed by the introduction of American business ethics,believing that there exists no management ethics in Japan. However,as in any country,in Japan there has been management ethics based upon historical tradition.Thus,there has also been indivisual and organaizational ethics based upon Japanese "Wa" on which our society has been formed. True co-existence in the global age means that each one has made a bridge with one another,going beyond the gulf between the rich and the poor,and with a moral mind,having token that initiative. The aim of this paper is to clarify Japanese "Wa" management ethics which has formed Japanese harmony between the individual and the whole,and which is well respected around the worldrand to propose a set of management etjics for the 21st century, which can help rescue it from its fall in western civilization.

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Construction Industry has many issues must be solved. The purpose of this report is the explication of ethical issues in Construction Industry. In order to make the Issues clear , this report made two kind of analysis. One of them is historical view point of Construction Industry. And another one is the characteristic of Industry itself. For the better change of Construction Industry the existence of Clever Consumer is expected in conclusion.

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Frequentation of scandals at companies that gives direct impact to citizens life place. The companies having caused the scandals have their own fine policies stating their social nature. Why are such policies not reflected their business? Both managements on the top and workers on the front lines of companies should more deeply cultivate their ethics. For this purpose, I wish the Liberal Arts to be revived in compulsory educations as well as college educations. I strongly hope that ethics be cultivated through these courses and the ethics education continuously be carried out in the companies.

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This study reports the results of the third survey of the institutionalization of ethics in Japanese corporations conducted in 2002 by the members of the empirical research-working group of JABES. (The first survey was conducted in 1996, and the second survey in 1999.) The group will conduct a similar survey every three years in order to grasp the transition of the degree of institutionalization of ethics among Japanese corporations with the change of the times. The paper presented here is a report of the third of the series of survey.

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Since some companies caused a scandalous affair recently, it has become more important for enterprises to evaluate their management results in the view of not only customers but also stockholders, employees and environment, etc. Up to the present, these evaluations have been discussed separately like financial analysis and customer satisfaction indices. In this paper, we surveyed economic, ethical and social performance for 10 well-known, best practice companies in Japan based on the questionnaire to their customers, employees, stockholder analysts and communities in May 2002. We firstly proposed concrete questionnaire items as a stakeholder management index in the 21 Century(SMIX21). Secondly, we confirmed an overall and individual performance of these companies, and requirements and problems of a best practice company. Thirdly, it was recognized that some questionnaire items correlated closely with a current total stock price, earnings per share(EPS) or return on equity(ROE). Finally, we made it clear that there were some evaluation gaps among these stakeholders.

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The recent corporate scandals were brought to light by whistle-blowing. Whistleblowing is an effective means to obtain a tip-off, but legal measures have to be put in place to prevent the whistle-blower's suffering. The Sarbanes-Oxley Act of 2002 is a U.S. version of the measure addressed to the window-dressed accounts to jack up the stock prices. Japanese corporate wrongdoings are often the outcome of the cozy relationship among politics, bureaucracy, and industry that is peculiar in Japan. Insider's accusation is effective to expose the injustice, but it should be deemed abnormal if there is no alternative. We want to answer to this problem by way of "Comprehensive Auditing". This scheme is meant for an NPO corporation to act as the auditing principal "providing an auditing firm or company's auditor with information obtained through own investigation and participating together in analyzing and making public after evaluating it from citizens' perspective". This article intends to promote the "disclosure of corporate information and its fair evaluation" in such a unique way and safeguard the interest of corporate stakeholders. The upshot will be a favorable stock market and it will also bring about the revitalization of Japanese economy.

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A company scandal does not sever marks. Although the check organization of a company is also required to prevent a scandal, it is important to complete the corporate culture which are the organization which does not take the action which was wrong in an administrator and employees including the top of the company which acts in the inside, and the constitution in which the wrong action is not taken, and to connect the culture to future generations. It reexamines about the importance about the corporate social responsibility, corporate ethics, and a corporate culture, and necessity, and suppose that the concept of a "meme" (gene of culture) is importantly used and considered about creation and continuation of a very difficult corporate culture for a company.

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Recently employment patterns have been diversified, while the employment and unemployment situation has remained severe. That is to say that a lot of Japanese corporations discharged quite a few regular employees and/or permanent employees and alternatively employed non-regular employees and/or contingent workers. Especially the number of part-time workers has been increasing rapidly. The treatment of them has been discussed since 1980's. I will examine the problem of non-regular employees and specifically look at the fair wage from the point of view of business ethics.

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I feel that today's social environment in Japan is very similar to that of the ending period of Tokugawa Government. In both cases, the most serious problem is the leader's lack of confidence to make effective policies and decisive actions to deal with the rapidly changing circumstances. "Perry's Black Ships" in 1853 and "Anglo-Saxon Standard" at present time are good examples which is difficult for the leaders how to handle. Meiji Restoration was initiated by the formal return of political authority to Emperor by the last Shogun in 1868, but in 1871, Meiji Government consolidated "Domains (Hans)" into more rationally structured "Prefectures (Kens)" (Haihan Chiken) which gave the most profound impact on society. The magnitude of disaster would have been great as all the big corporations today dissolve over-nightly and all the emplyees lose job automatically. The impact of "Haihan Chiken" was enormous because the biggest emplyers (Hans) were abolished and Samurais who worked for "Hans" were dismissed. Meiji Government had to save jobless Samurais and help "Hans" for their financial rescheduling. For that purpose, Meiji Government issued Government Bond equal to 1.2 times of GDP (yen 200 million at that time) and gave 80% of them to Samurai class at free of charge as the expences for survival and the rest was used for financial rescheduling of "Domains (Hans)". The reforms were proceeded by the initiative of young key restoration leaders from Satsuma,Choshu,Tosa & Saga. Japan's economy has no sign of recovery for very long time but we must get rid of such stagnation as soon as possible. I trurt now is the time to do something which gives strong & positive impact on Japanese economy. Through the experience of Meiji Government at the time of "Haihan Chiken", I discovered a great hint in the skillful "Utilization of Government Bond". I proposed a very radical but very interesting economic strategy in this report which will be particularly effective at emergency. I named it "Special National Bonus Strategy." In my mind, the sub-title of this report is "Learning from the Cultural Heritage of Meiji".

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In this paper, the realization of the new two principles called "humanity" and "sociality" combined with the old two principles called "efficiency" and "competitiveness" , which were proposed by professor Masakazu Mizutani, is attempted focusing on the methodology of developing the creativity and passion of employees for the purpose of business innovation by utilizing Problem Solving Method and Session Rule.

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Recent business wrong-doings have been caused because some persons don't observe the law and business ethics. We have the subject how we teach these problems to students and accountants. We teach students many things such as Business Administration, Accounting and Management Information System at Department of Business Administration. We have ten ethical problems at a trial system. 29 students in the fifth year of our school answer the problems and questionnaires at the net system. We report you a trial learning system on business ethics and questionnaires' analyses.

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