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Are financial markets affected by the recent earthquake?

Research Project

Project/Area Number 17K03695
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Research Field Economic policy
Research InstitutionNagoya City University

Principal Investigator

Watanabel Naoki  名古屋市立大学, 大学院経済学研究科, 准教授 (00542515)

Co-Investigator(Kenkyū-buntansha) 坂和 秀晃  名古屋市立大学, 大学院経済学研究科, 准教授 (70513125)
Project Period (FY) 2017-04-01 – 2020-03-31
Project Status Completed (Fiscal Year 2019)
Budget Amount *help
¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2019: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2018: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2017: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Keywords企業金融 / 自然災害 / 証券市場 / 震災
Outline of Final Research Achievements

In this research, we analyze the impact of natural disasters from various perspectives, such as market liquidity and corporate financial data. Considering the versatility and reliability of the data, our project focuses on companies which listed on the securities market. Our study showed that the impact on market liquidity varies depending on the size of the company. These results suggest that the impact on listed companies belonging to SMEs may become serious.

Academic Significance and Societal Importance of the Research Achievements

自然災害は設備や機械などの物理的な損失だけでなく、自然災害が発生後の経済的な影響を考慮する必要がある。たとえば、株価に急速な悪影響があり、企業の流動性が短期的に枯渇することで、連鎖倒産を起こす懸念がある。施設などで実験を行える自然科学とは異なり、社会科学分野では現実社会に対して実験を行うことは困難である。地震などのような自然災害の影響を受けた期間に注目し、社会システムの健全性を確認するのは、学術的な意義がある。

Report

(4 results)
  • 2019 Annual Research Report   Final Research Report ( PDF )
  • 2018 Research-status Report
  • 2017 Research-status Report
  • Research Products

    (25 results)

All 2020 2019 2018 2017 Other

All Int'l Joint Research (4 results) Journal Article (11 results) (of which Int'l Joint Research: 2 results,  Peer Reviewed: 11 results,  Open Access: 4 results) Presentation (9 results) (of which Int'l Joint Research: 9 results) Funded Workshop (1 results)

  • [Int'l Joint Research] University of Queensland(オーストラリア)

    • Related Report
      2019 Annual Research Report
  • [Int'l Joint Research] Waikato University(ニュージーランド)

    • Related Report
      2019 Annual Research Report
  • [Int'l Joint Research] University of Queensland(オーストラリア)

    • Related Report
      2018 Research-status Report
  • [Int'l Joint Research] Waikato University(ニュージーランド)

    • Related Report
      2018 Research-status Report
  • [Journal Article] The real effect of mandatory disclosure in Japanese firms2020

    • Author(s)
      Sakawa Hideaki、Watanabel Naoki、Yamada Akihiro、Duppati Geeta
    • Journal Title

      Pacific-Basin Finance Journal

      Volume: 60 Pages: 101298-101298

    • DOI

      10.1016/j.pacfin.2020.101298

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Institutional Ownership and Firm Performance under Stakeholder-Oriented Corporate Governance2020

    • Author(s)
      Sakawa Hideaki、Watanabel Naoki
    • Journal Title

      Sustainability

      Volume: 12 Issue: 3 Pages: 1021-1021

    • DOI

      10.3390/su12031021

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed / Open Access
  • [Journal Article] Main bank relationship and accounting conservatism: evidence from Japan2019

    • Author(s)
      Sakawa Hideaki、Watanabel Naoki
    • Journal Title

      Asian Business & Management

      Volume: 19 Issue: 1 Pages: 62-85

    • DOI

      10.1057/s41291-019-00071-5

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Family control and ownership monitoring in Stakeholder-oriented corporate governance2019

    • Author(s)
      Sakawa Hideaki、Watanabel Naoki
    • Journal Title

      Management Decision

      Volume: 57 Issue: 7 Pages: 1712-1728

    • DOI

      10.1108/md-04-2018-0480

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Earnings quality and internal control in bank-dominated corporate governance2019

    • Author(s)
      Sakawa Hideaki、Watanabel Naoki
    • Journal Title

      Asian Business & Management

      Volume: forthcoming Issue: 2 Pages: 188-220

    • DOI

      10.1057/s41291-019-00100-3

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed
  • [Journal Article] IPO underpricing and ownership monitoring in Japan2019

    • Author(s)
      Sakawa Hideaki、Watanabel Naoki
    • Journal Title

      Asian Business & Management

      Volume: forthcoming Issue: 4 Pages: 480-503

    • DOI

      10.1057/s41291-019-00067-1

    • Related Report
      2019 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Board structures and performance in the banking industry: Evidence from Japan2018

    • Author(s)
      Sakawa Hideaki、Watanabel Naoki
    • Journal Title

      International Review of Economics & Finance

      Volume: 56 Pages: 308-320

    • DOI

      10.1016/j.iref.2017.11.001

    • Related Report
      2018 Research-status Report
    • Peer Reviewed
  • [Journal Article] 大規模災害が金融市場にどのような効果を与えるか?2018

    • Author(s)
      渡辺 直樹
    • Journal Title

      ゆうちょ資産研究-研究助成論文集-

      Volume: 25 Pages: 69-88

    • NAID

      40021741234

    • Related Report
      2018 Research-status Report
    • Peer Reviewed / Open Access
  • [Journal Article] Parent control and ownership monitoring in publicly listed subsidiaries in Japan2018

    • Author(s)
      Sakawa Hideaki、Watanabel Naoki
    • Journal Title

      Research in International Business and Finance

      Volume: 45 Pages: 7-14

    • DOI

      10.1016/j.ribaf.2017.07.127

    • Related Report
      2018 Research-status Report
    • Peer Reviewed
  • [Journal Article] Pitching non-English language research: A dual-language application of the Pitching Research Framework2018

    • Author(s)
      Faff Robert、Sakawa Hideakiなど
    • Journal Title

      Journal of Accounting and Management Information Systems

      Volume: 12 Issue: 2 Pages: 266-290

    • DOI

      10.24818/jamis.2018.02005

    • Related Report
      2018 Research-status Report
    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] Relation between Executive Compensation and Performance: Evidence from Japanese Shinkin Banks2017

    • Author(s)
      Sakawa H, Watanabel N, Tanahashi N
    • Journal Title

      Economics Bulletin

      Volume: 37 Pages: 1310-1317

    • Related Report
      2017 Research-status Report
    • Peer Reviewed / Open Access
  • [Presentation] Institutional Ownership and Performance in a Stakeholder-oriented Corporate Governance2019

    • Author(s)
      Sakawa, H., and Watanabel, N.
    • Organizer
      Association of Japanese Business Studies
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Institutional Ownership and Corporate Risk-Taking in Japanese listed firms2019

    • Author(s)
      Sakawa, H., Watanabel, N., Duppati, G., and R. Faff, R.
    • Organizer
      Asian Finance Association Annual Meeting
    • Related Report
      2019 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Main Bank Relationship and Accounting Conservatism: Evidence from Japan2018

    • Author(s)
      Sakawa Hideaki、Watanabel Naoki
    • Organizer
      International Congress on Banking, Economics, Finance, and Business (BEFB)
    • Related Report
      2018 Research-status Report
    • Int'l Joint Research
  • [Presentation] Main Bank Relationship and Accounting Conservatism: Evidence from Japan2018

    • Author(s)
      Sakawa Hideaki、Watanabel Naoki
    • Organizer
      Annual Meeting of the Academy of International Business
    • Related Report
      2018 Research-status Report
    • Int'l Joint Research
  • [Presentation] Family Control and Ownership Monitoring in Stakeholder-oriented Corporate Governance2018

    • Author(s)
      Sakawa Hideaki、Watanabel Naoki
    • Organizer
      4th Conference of International Corporate Governance Society
    • Related Report
      2018 Research-status Report
    • Int'l Joint Research
  • [Presentation] Does Institutional Ownership Matter in Stakeholder-oriented Corporate Governance?2018

    • Author(s)
      Sakawa Hideaki、Duppati Geeta、 Watanabel Naoki、 Faff Robert
    • Organizer
      Asian Pacific Conference on International Accounting Issues
    • Related Report
      2018 Research-status Report
    • Int'l Joint Research
  • [Presentation] Parent control and ownership monitoring in publicly listed subsidiaries in Japan2017

    • Author(s)
      Sakawa H, Watanabel N
    • Organizer
      2017 joint conference of Asia Academy of Management and Taiwan Academy of Management
    • Related Report
      2017 Research-status Report
    • Int'l Joint Research
  • [Presentation] Earnings Management and Internal Control in Bank-dominated Corporate Governance: Evidence from Japan2017

    • Author(s)
      Sakawa H, Watanabel N
    • Organizer
      2017 Annual Meeting of the Academy of International Business
    • Related Report
      2017 Research-status Report
    • Int'l Joint Research
  • [Presentation] Earnings Management and Internal Control in Bank-dominated Corporate Governance: Evidence from Japan2017

    • Author(s)
      Sakawa H, Watanabel N
    • Organizer
      2017 Annual Meeting of the American Accounting Association
    • Related Report
      2017 Research-status Report
    • Int'l Joint Research
  • [Funded Workshop] NCU and Chubu JSME Research Workshop on Accounting & Finance2019

    • Related Report
      2019 Annual Research Report

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Published: 2017-04-28   Modified: 2021-02-19  

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