A Study of the Effect of Foreign Investors on the Quality of Accounting Information
| Project/Area Number |
18K01906
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Review Section |
Basic Section 07100:Accounting-related
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| Research Institution | Tohoku University |
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Principal Investigator |
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| Co-Investigator(Kenkyū-buntansha) |
榎本 正博 神戸大学, 社会システムイノベーションセンター, 教授 (70313921)
山口 朋泰 中央大学, 商学部, 教授 (50613626)
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| Project Period (FY) |
2018-04-01 – 2023-03-31
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| Project Status |
Completed (Fiscal Year 2022)
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| Budget Amount *help |
¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2020: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2019: ¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
Fiscal Year 2018: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
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| Keywords | 外国人投資家 / 会計情報の質 / 利益マネジメント / 会計発生高 / 大株主 / 国際比較 / 利益の質 / コーポレートガバナンス / 会計上の保守主義 / 不動産投資信託 |
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| Outline of Final Research Achievements |
In a situation where accounting information plays a role of contract support between a firm and its stakeholders, the attributes of stakeholders are expected to affect the quality of accounting information. In this paper, we focus on shareholders as stakeholders and attempt to examine their influence on the quality of accounting information. The results of the analysis for Japanese firms indicate that the quality of accounting information tends to be high when the influence of financial institutions is strong, while the quality of accounting information tends to be low when the influence of foreign investors is strong. While the monitoring by financial institutions can be interpreted as a factor that improves the quality of accounting information, the short-term orientation of foreign investors can be interpreted as a factor that leads to profit management by managers, which in turn reduces the quality of accounting information.
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| Academic Significance and Societal Importance of the Research Achievements |
本研究は財務報告の利害調整機能の解明に取り組んだ研究と位置づけられる．財務報告の利害調整機能は討議資料『財務会計の概念フレームワーク』において副次的な目的と位置づけられているが，情報提供機能ほど研究が進んでいるとは言い難い．本研究では日本企業における利益マネジメントの長期的な傾向とその影響要因を検証することで，財務報告の利害調整機能の実態の一端を解明しており，そこに学術的意義があると考える．
さらに，本稿の議論や知見は，最適なコーポレートガバナンスの探求，財務諸表を用いた企業分析への応用，会計基準の設定に際し参照される余地を有しており，そうした点で社会的意義を有するといえる．
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Report
(6 results)
Research Products
(15 results)
