comprehensive research on changes in accounting information and financial market during the financial crisis
| Project/Area Number |
17K13832
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Accounting
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| Research Institution | Nagoya University of Foreign Studies |
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Principal Investigator |
MANABE KAZUHIRO 名古屋外国語大学, 現代国際学部, 准教授 (40509915)
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| Project Period (FY) |
2017-04-01 – 2021-03-31
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| Project Status |
Completed (Fiscal Year 2020)
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| Budget Amount *help |
¥3,250,000 (Direct Cost: ¥2,500,000、Indirect Cost: ¥750,000)
Fiscal Year 2020: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2019: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
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 | 財務会計 / 金融危機 / 保守主義 / 会計保守主義 / 産業ダミー / 実証モデル / 内的正当性 / 会計学 |
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| Outline of Final Research Achievements |
Over the past four years, we have conducted comprehensive research on changes in accounting information and market logic during the financial crisis. In the first study, we found that investors' decision-making models change in financial crises. As a result, we found that the parameters of the regression model based on the profit capitalization model can have a large missing variable bias. As the second research result, we examined the industry effect, which is the effect of industry characteristics on accounting figures, and the effect of industry dummies, which is a control method in estimation. As a result, we found that accounting figures in capital market-based accounting studies are subject to bias due to industry characteristics.
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| Academic Significance and Societal Importance of the Research Achievements |
1つ目の研究結果である金融危機における投資家の意思決定モデルの変化は、これまでの資本市場に基づく会計研究に重要な問題を提起する。欠落変数バイアスにより回帰パラメータなどの統計量は大きな偏りを受けており、多くの研究課題は再検証が求められる。
2つ目の研究結果である産業特性のモデリングと産業ダミーの効果は、これまで形骸化していた産業ダミーの意義を提示する。産業ダミーの効果による統計量への変化を明示することにより、これまでの実証研究における判断が必ずしも十分でなかったことを示唆する。
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Report
(5 results)
Research Products
(6 results)
