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A Study on the Credit Rating by Japanese and the US Credit Rating Agencies : related with the Changing Accounting Standards

Research Project

Project/Area Number 13630162
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field Accounting
Research InstitutionYokohama National University

Principal Investigator

OKADA Ellie  Yokohama National University, International Graduate School of Social Science, Professor, 大学院・国際社会科学研究科, 教授 (70203982)

Co-Investigator(Kenkyū-buntansha) HIRAI Naoki  Nomura Financial Institute, Research Department of Management, Financial Strategy Section, Senior Researcher, 経営調査部財務戦略調査課, 主任研究員
SHIRATA Yoshiko  Nihon University, Faculty of Economics, Professor, 経済学部, 教授 (80289793)
OKATO Tsutomu  Hannan University, Faculty of Information Management, Professor, 経営情報学部, 教授 (20330342)
SUGAWARA Satoshi  Hiroshima Shudo University, Faculty of Commerce, Associate Professor, 商学部, 助教授 (40331839)
MIURA Kuniyoshi  Bunkyo University, Faculty of Management, Professor, 経営学部, 教授 (90275933)
Project Period (FY) 2001 – 2002
Project Status Completed (Fiscal Year 2002)
Budget Amount *help
¥1,700,000 (Direct Cost: ¥1,700,000)
Fiscal Year 2002: ¥1,700,000 (Direct Cost: ¥1,700,000)
Keywordsbond rating / credit risk / Japanese and the US rating agencies / international harmonization of accounting standards / valuation / intellectual assets / non financial information / 知的資産 / 知的財産 / 投資情報 / 債権格付け / 知的資産・知的資本 / コーポレート・ブランド / 将来キャッシュフロー / 割引現在価値 / 公正価値
Research Abstract

The present research shows that, 1) it takes for granted that there are differences among credit ratings by Japanese and the US rating agencies, since ratings represent opinions by raging agencies on credit risk of bonds, 2) both the Japanese agencies and the US agencies already incorporated the accounting standards change to be promulgated in the near future, 3) the Japanese agencies incorporate non-financial information of Japanese companies into rating, though in the tacit manner, though 4) the timing of the change of ratings by Japanese agencies is slower than the US agencies, in this sense, Japanese agencies are followers in the market.
The head investigator is now working on the credit risk evaluation of software companies incorporating non financial information, such as technologies, and the formula is going to be used by governmental institution.

Report

(3 results)
  • 2002 Annual Research Report   Final Research Report Summary
  • 2001 Annual Research Report
  • Research Products

    (11 results)

All Other

All Publications (11 results)

  • [Publications] 岡東 務: "マイカル債の格付けについての一考察"証券経済学会年報. 第38巻. (2003)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2002 Final Research Report Summary
  • [Publications] 森脇 彬編: "現代債券格付論"税務経理協会. (2000)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      2002 Final Research Report Summary
  • [Publications] 岡田依里: "アメリカ企業の知的資本経営"ブレーントラスト. 第3巻. 4-7 (2003)

    • Related Report
      2002 Annual Research Report
  • [Publications] 岡田依里: "知的資産の財務マネジメント"CFO FORUM. 第3巻. 4-8 (2002)

    • Related Report
      2002 Annual Research Report
  • [Publications] 岡田依里: "公正開示規則と知的資産(非財務情報)報告書"会計. 第162巻第6号. 56-66 (2002)

    • Related Report
      2002 Annual Research Report
  • [Publications] 岡田依里: "知的資産とブランドの方向性"税経通信. 第57巻第13号. 37-44 (2002)

    • Related Report
      2002 Annual Research Report
  • [Publications] 岡東 務: "マイカル債の格付けについての一考察"証券経済学会年報. 第38巻(予定). (2003)

    • Related Report
      2002 Annual Research Report
  • [Publications] 岡田依里: "企業評価と知的資産〔改訂版〕"税務経理協会. 252 (2003)

    • Related Report
      2002 Annual Research Report
  • [Publications] 岡田 依里: "知的資産としてのブランドと企業評価-JWG報告書関連して-"産業経理. 第61巻 第3号. 29-37 (2001)

    • Related Report
      2001 Annual Research Report
  • [Publications] 菅原 智: "人的資源会計としての株式を用いて経営者報酬の会計"企業会計. 第53巻 第3号. 120-126 (2001)

    • Related Report
      2001 Annual Research Report
  • [Publications] 岡田 依里: "企業評価と知的資産"税務経理協会. 252 (2002)

    • Related Report
      2001 Annual Research Report

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Published: 2002-04-01   Modified: 2016-04-21  

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