| Project/Area Number |
17H07273
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| Research Category |
Grant-in-Aid for Research Activity Start-up
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| Allocation Type | Single-year Grants |
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| Research Field |
Management
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| Research Institution | Momoyama Gakuin University |
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Principal Investigator |
Saito Junyu 桃山学院大学, 経営学部, 講師 (80803585)
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| Project Period (FY) |
2017-08-25 – 2019-03-31
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| Project Status |
Completed (Fiscal Year 2018)
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| Budget Amount *help |
¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2018: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2017: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
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| Keywords | コーポレート・ガバナンス / リスクテイキング |
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| Outline of Final Research Achievements |
This research empirically examines the effect of various factors of corporate governance on corporate risk-taking. The results show that firms which voluntarily enhance their board independence or whose managers are not under pressure from outsiders tend to be more risk-taking. Besides, this research also finds that a firm's risk-taking behavior depends on its product market condition. This research implies that the recent reform of corporate governance in Japan is not necessarily effective in terms of motivating corporate risk-taking.
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| Academic Significance and Societal Importance of the Research Achievements |
近年の日本におけるコーポレート・ガバナンス改革は、企業の経営陣をいかにして規律付けるか、という観点からの議論が中心的であった。本研究は、企業のリスクテイキングという観点から日本のコーポレート・ガバナンスを実証的に分析することで、リスクテイキングに影響を与えるいくつかの要因を特定するとともに、日本におけるコーポレート・ガバナンス改革の更なる進展に資する有用なエビデンスを提示している。
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