| Budget Amount *help |
¥3,770,000 (Direct Cost: ¥2,900,000、Indirect Cost: ¥870,000)
Fiscal Year 2022: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2021: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2020: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2019: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2018: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
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| Outline of Final Research Achievements |
This study investigates the effect of the product market competition on the usefulness of accounting information. In particular, this study focused on the intra-industry information transfers associated with earnings announcements (i.e., a phenomenon in which stock prices react to earnings announcements of other firms in the same industry that are disclosed prior to the firm’s own). The results suggest that when product market competition with other firms in the same industry intensifies, the intra-industry information transfers associated with earnings announcements weakens and the stock market mispricing to the information transfers occur. Furthermore, this study also reveals that differences in business strategies among firms in the same industry affect the information transfers of earnings announcements.
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