Corporate law shapes the fundamental business environment and affects various stakeholders. It is possible to determine the behaviour of various stakeholders by examining the politics of the reform process of corporate law. In order to understand the process, this paper uses the notice-and-comment procedure (public-comment procedure). Under this procedure, people submit comments to the Ministry of Justice; some of the comments are reflected in the final Bill, while others are not. The paper performs a quantitative analysis of a hand-collected dataset from two recent public-comment procedures on corporate law reform. The results showed that the bureaucrats are rigid and not willing to take public comments seriously. However, on some technical issues, legal academics, and legal professionals influence the behaviour of the bureaucrats. In addition, the bureaucrats employed these comments to honour the technical views of professionals. In other cases, corporate managers significantly influence the reform process.

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公司法改革与政治环境：使用日本公众评论程序数据的实证分析

公司法塑造了基本的商业环境并影响着各种利益相关者。通过考察公司法改革过程的政治性，可以确定各种利益相关者的行为。为了理解这个过程，本文使用了通知和评论程序（public-comment procedure）。在此程序下，人们向司法部提交意见；一些意见反映在最终法案中，而另一些则没有。本文对最近两次关于公司法改革的公开评论程序中手工收集的数据集进行了定量分析。结果表明，官僚主义僵化，不愿认真对待公众意见。然而，在一些技术问题上，法律学者和法律专业人士会影响官僚的行为。此外，官僚们使用这些评论来尊重专业人士的技术观点。在其他情况下，企业管理者对改革进程有重大影响。