Abstract
The unique historical and institutional background of Japanese corporate pension provides the motivation for this study to examine the factors underlying corporate decision to adopt pension plans, a relatively new development in Japan. Five hypotheses are developed, focusing on the initial adoption decision. Two hypotheses are based on cost-minimization considerations, and the remaining three are embedded in aspects of Japanese-style bargaining between labor and management. The empirical analysis that follows for the period 1980–1990 finds evidence in support of the efficiency motives for pension adoption.
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