The empirical study on investor behavior to financial reporting under the Companies Act and the Financial Instruments and Exchange Act
| Project/Area Number |
20530409
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Accounting
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| Research Institution | Kobe University |
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Principal Investigator |
OTOGAWA Kazuhisa Kobe University, 経営学研究科, 教授 (90295733)
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| Project Period (FY) |
2008 – 2010
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| Project Status |
Completed (Fiscal Year 2010)
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| Budget Amount *help |
¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000)
Fiscal Year 2010: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2009: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2008: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
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| Keywords | 会計学 / 財務報告 / 投資家行動 / 大量保有報告 / 四半期報告 / 四半期情報 / 大量保有報告制度 / 会計上の損失 / 無形資産集約的企業 / 情報の非対称性 |
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| Research Abstract |
I use a market microstructure approach to empirically examine investor behavior in the situation that the Companies Act and the Financial Instruments and Exchange Act became effective, and that financial reporting and corporate governance structure in Japan have been changed drastically. I then obtain many valuable results about trading behavior of different groups of investors such as (i) ones who submit market orders, (ii) ones who submit limit orders, (iii) large stockholders, and (iv) short sellers.
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Report
(4 results)
Research Products
(14 results)
