| Project/Area Number |
15H03367
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Money/ Finance
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| Research Institution | Kyushu University |
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Principal Investigator |
Uchida Konari 九州大学, 経済学研究院, 教授 (80305820)
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| Co-Investigator(Kenkyū-buntansha) |
森保 洋 長崎大学, 経済学部, 教授 (10304924)
小野 慎一郎 大分大学, 経済学部, 准教授 (20633762)
閔 廷媛 上智大学, 経済学部, 准教授 (30632872)
松本 守 北九州市立大学, 経済学部, 准教授 (50435096)
阿萬 弘行 関西学院大学, 商学部, 教授 (70346906)
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| Project Period (FY) |
2015-04-01 – 2018-03-31
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| Project Status |
Completed (Fiscal Year 2017)
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| Budget Amount *help |
¥16,250,000 (Direct Cost: ¥12,500,000、Indirect Cost: ¥3,750,000)
Fiscal Year 2017: ¥3,900,000 (Direct Cost: ¥3,000,000、Indirect Cost: ¥900,000)
Fiscal Year 2016: ¥2,990,000 (Direct Cost: ¥2,300,000、Indirect Cost: ¥690,000)
Fiscal Year 2015: ¥9,360,000 (Direct Cost: ¥7,200,000、Indirect Cost: ¥2,160,000)
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| Keywords | コーポレートガバナンス / 取締役会 / 株主構成 / メディア情報 / 組織学習 / 企業支配権取引 / CSR / 第三者割当増資 / 独立社外取締役 / 機関投資家 / 法制度・文化 / 法制度 / 文化 / M&A |
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| Outline of Final Research Achievements |
We found demands for corporate governance devices depend on the type of shareholders. Analyses on transactions of corporate control in China reveal that stock liquidity affects efficiency of the transactions. Chinese companies successfully time the market in public offerings despite the long screening process by the regulatory authority. In Japan, experience of the specific type of M&As is associated with success/failure of subsequent M&As. Institutional ownership is positively related to the probability of environment rating improvements before and after year 2006, when the United Nations launched PRI. Finally, we find that media information such as advertisements is significantly related to stock return and volatility.
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