The Corporate Governance of Startup Companies Wishing to Go Public (as Venture Companies) in the Re-construction Era of a Self-governing Society:What Should Be Changed in the Management of Startup Companies

The time has come again when we can change society. From a society which is led by a nation controlled by the bureaucrats to a new society composed of a collection of self-independent economic units or communities based on individualism. Management abounding with entrepreneurship in venture companies as well as in successful compaines should play an essential role in the new economy (market-led economy)the Japan is now switching over to. Entrepreneurs,seeking for innovation that will enable Japan-Reform and believing in the efficiency and efficacy of an orderly market mechanisms have to participate in the management of venture companies(as members of the board of directors).They take initiative in the management from the standpoint of corporate strategy. corporate monitoring,and,what is most important,business ethics. They step either on the accelerator or the brake in venture manegement. Sometimes they are obliged to step on both at the same time. Entrepreneurs include successful or knowledgeable venture capitalists. We call this kind of board management method,in which entrepreneurs participate,venture-backed governance. Through these entrepreneurs\u27 activities in venture management,it is possible to proceed towards and realize an orderly market economy