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The governance role of shareholders in director elections: A multilevel study of shareholder dissent in Japan

Research Project

Project/Area Number 17K13782
Research Category

Grant-in-Aid for Young Scientists (B)

Allocation TypeMulti-year Fund
Research Field Management
Research InstitutionKyushu University

Principal Investigator

UCHIDA Daisuke  九州大学, 経済学研究院, 准教授 (10754806)

Project Period (FY) 2017-04-01 – 2021-03-31
Project Status Completed (Fiscal Year 2020)
Budget Amount *help
¥3,510,000 (Direct Cost: ¥2,700,000、Indirect Cost: ¥810,000)
Fiscal Year 2019: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2018: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2017: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Keywordsコーポレート・ガバナンス / 株主 / 取締役選任 / 取締役会 / 日本企業
Outline of Final Research Achievements

The aim of this research is to empirically examine the role of shareholders in the context of shareholder votes on director elections. The primary findings of this research are threefold. First, in the context of shareholder votes on director election in Japanese firms, shareholders follow the principle of agency theory. Second, such a tendency of shareholders can change in response to the change in institutional environments. Thirds, the influence of institutional environments on shareholders and their tendency to vote varies depending on their attributes.

Academic Significance and Societal Importance of the Research Achievements

本研究は,基本的であるが重要な関与の手段の一つである,株主の取締役選任議案への議決権行使をマルチレベルから実証的に検証したという点で,その学術的意義は小さくない.また,コーポレート・ガバナンス改革が進展する中で,制度の変容が株主の議決権行使に影響を与えるだけでなく,その影響は株主の属性ごとに異なることも明らかにしたという観点から,本研究の社会的意義が認められる.

Report

(5 results)
  • 2020 Annual Research Report   Final Research Report ( PDF )
  • 2019 Research-status Report
  • 2018 Research-status Report
  • 2017 Research-status Report
  • Research Products

    (8 results)

All 2021 2019 2017

All Journal Article (1 results) (of which Int'l Joint Research: 1 results,  Peer Reviewed: 1 results) Presentation (7 results) (of which Int'l Joint Research: 6 results)

  • [Journal Article] Institutional Antecedents to Shareholder Monitoring: The Liability of Localness in Shareholder Votes2021

    • Author(s)
      Daisuke Uchida, Toru Yoshikawa
    • Journal Title

      Academy of Management Proceedings

      Volume: 2021

    • Related Report
      2020 Annual Research Report
    • Peer Reviewed / Int'l Joint Research
  • [Presentation] Institutional Antecedents to Shareholder Monitoring: The Liability of Localness in Shareholder Votes2021

    • Author(s)
      Daisuke Uchida, Toru Yoshikawa
    • Organizer
      Academy of Management
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Short- and Long-Term Consequences of a Signal to Multiple Stakeholders: Evidence from Japanese Firms2021

    • Author(s)
      Katsuhiko Shimizu, Daisuke Uchida
    • Organizer
      Academy of Management
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Gender Diversity in the Executive Suite: How Much is Enough?2021

    • Author(s)
      Richard Smith, Daisuke Uchida, Toru Yoshikawa
    • Organizer
      Strategic Management Society
    • Related Report
      2020 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Exposed: When and How Do Relational Institutional Investors Become Vigilant Monitors?2019

    • Author(s)
      Daisuke Uchida
    • Organizer
      Academy of Management
    • Related Report
      2019 Research-status Report 2018 Research-status Report
    • Int'l Joint Research
  • [Presentation] 制度環境の変容と機関投資家の議決権行使:資源依存の影響2019

    • Author(s)
      内田 大輔
    • Organizer
      武蔵経済セミナー
    • Related Report
      2019 Research-status Report
  • [Presentation] Institutional pressures, managerial interests, and the fate of governance practices in Japan2017

    • Author(s)
      内田大輔
    • Organizer
      Academy of Management
    • Related Report
      2017 Research-status Report
    • Int'l Joint Research
  • [Presentation] Why do firms initiate partial cross-border M&As and do nothing thereafter: Toward a theory of inaction2017

    • Author(s)
      清水勝彦・内田大輔
    • Organizer
      Academy of International Business
    • Related Report
      2017 Research-status Report
    • Int'l Joint Research

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Published: 2017-04-28   Modified: 2022-01-27  

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