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Begin New Search Topic Business Author Christopher McKenna

1. The Father of Japanese Capitalism: Shibusawa Eiichi’s Vision of the Ethical Corporation

Author:
Sean Valencia, Rebecca Orr, and Christopher McKenna
Publication Date:
04-2019
Content Type:
Case Study
Institution:
Oxford Centre for Global History
Abstract:
When Europeans began trading with Japan in the 16th century, they were amazed by Japanese craftsmanship, the country’s sophistication, and its extraordinary wealth but the Japanese elite were not equally convinced by the benefits of European trade. Wary of foreign influence, particularly the attempts by Christian missionaries to convert the Japanese, the Tokugawa Shogunate enforced a policy of strict isolation in Japan. Tokugawa Iemitsu, the shogun of Japan from 1623 to 1651, issued a series of edicts placing severe restrictions on trade and the movement of people and goods after 1638. These prohibitions remained in place for more than two hundred years until 8 July 1853 when, under the command of Commodore Matthew Perry, four United States Naval Ships sailed into Tokyo Bay. In the decades leading up to this confrontation, the presence of foreign ships in Japanese waters had become an increasingly common sight as western powers competed ever more fiercely to establish trade relations in the region. The arrival of Perry’s “black ships”, however, marked a stark shift in Japan’s foreign relations. American President Millard Fillmore had tasked Perry with forcing open Japanese ports to US vessels and, unlike in previous naval expeditions, granted him full and discretionary powers to achieve this end. On arriving into Tokyo Bay, Perry staged a week-long campaign of intimidation that began fiercely with the firing of blank shots and culminated in ominous threats to destroy the nation. The Tokugawa Shogunate, stymied by indecision, finally conceded that Perry would be allowed ashore to deliver a letter demanding that Japan abandoned its protectionist policies
Topic:
Capitalism, Ethics, Business, and Global Political Economy
Political Geography:
Japan and Asia

2. The “A1” Reputation of the Lloyd’s Register of Shipping

Author:
Charlie Harris and Christopher McKenna
Publication Date:
11-2019
Content Type:
Case Study
Institution:
Oxford Centre for Global History
Abstract:
For over two hundred years, Lloyd’s Register has surveyed and classified ships. Founded in 1760 in a coffeehouse on London’s busy Lombard Street, the company then known as the Society for the Registry of Shipping, surveyed and classified the seaworthiness of ships. For the first time, underwriters and merchants could gain an idea of the condition of the vessels they insured and chartered while ship builders and shipowners could demonstrate seaworthiness. Lloyd’s classified the best as “A1.” This term would become the Register’s greatest contribution to the popular lexicon and, ever since, the phrase “A1 at Lloyd’s” connotes the highest quality.
Topic:
History, Capitalism, and Business
Political Geography:
London and England

3. Union Cold Storage and the Birth of Multinational Tax Planning, 1897-1922

Author:
James Hollis and Christopher McKenna
Publication Date:
01-2019
Content Type:
Case Study
Institution:
Oxford Centre for Global History
Abstract:
Today’s corporate managers know that while tax planning may improve the bottom line, it also carries a downside in terms of reputational risk. The past decade has seen the rise of a phenomenon dubbed “tax shaming,” with legislators, activists and the popular press condemning multinationals for participating in “aggressive” or “unethical” tax avoidance. This campaign has occasionally been associated with dramatic changes in corporate policy. In 2012, for example, the global coffee chain Starbucks announced that it was voluntarily increasing its tax payments in the United Kingdom. And the following year, one of Britain’s leading banks, Barclays, closed down its profitable tax structuring division, citing the hostile political climate. Advocates of corporate social responsibility (CSR) promote the idea of a moral dimension to tax compliance, although it remains to be seen whether firms that consciously adopt an ethical approach to tax obligations will outperform their rivals. Some skeptics dismiss the CSR agenda as a public relations exercise; others regard it as a potential threat to legal certainty or economic competitiveness. A few practitioners even claim that “tax shaming” is a dangerous step towards “taxation by mob rule.”
Topic:
History, Capitalism, Ethics, Business, Multinational Corporations, and Risk
Political Geography:
Global Focus