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The Effect of Changes in Corporate Governance on the Relationship between CEO Turnover and Earnings Management

Research Project

Project/Area Number 20K02009
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Review Section Basic Section 07100:Accounting-related
Research InstitutionKobe University

Principal Investigator

Enomoto Masahiro  神戸大学, 経済経営研究所, 教授 (70313921)

Project Period (FY) 2020-04-01 – 2024-03-31
Project Status Completed (Fiscal Year 2023)
Budget Amount *help
¥2,600,000 (Direct Cost: ¥2,000,000、Indirect Cost: ¥600,000)
Fiscal Year 2022: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2021: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2020: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Keywords経営者交代 / 利益マネジメント / コーポレート・ガバナンス / 会計情報 / 財務会計 / コーポレートガバナンス
Outline of Research at the Start

経営者交代は経営者を規律付けるコーポレート・ガバナンスの仕組みとして経営者報酬とならび重要な機能を果たしている。本研究は,コーポレート・ガバナンス機構が変容するもとで,経営者が交代時に利益マネジメントを通じて会計情報の質にどう影響を与えるかを調査し,そこから経営者が実施する会計実務の背後に存在する規則性の推移を解明することにある。

Outline of Final Research Achievements

This study investigates CEO turnover and earnings management. Using a sample of Japanese firms excluding those in the financial sector, I find that income-decreasing earnings management occurs prior to CEO turnover. After the turnover, for the entire first three fiscal years, CEOs tend to engage in income-increasing earnings management. Additional analyses suggest that corporate governance, specifically shareholder structure, influences these results. Furthermore, in the context of bank CEO turnover, evidence indicates that incoming CEOs engage in income-increasing earnings management in the second year. This behavior suggests an attempt to create a positive impression of their own competence through earnings management.

Academic Significance and Societal Importance of the Research Achievements

本研究は一般事業会社であれ銀行であれ、経営者は就任後に自身の評価を上げるために、利益増加的な利益マネジメントがあることを示唆する証拠を示したことに学術的意義がある。さらに一般事業会社においては、株主構成がそれらの関係に影響することについてわが国の企業をサンプルで得たことも重要である。

Report

(5 results)
  • 2023 Annual Research Report   Final Research Report ( PDF )
  • 2022 Research-status Report
  • 2021 Research-status Report
  • 2020 Research-status Report
  • Research Products

    (8 results)

All 2024 2023 2022 2020

All Journal Article (6 results) (of which Open Access: 1 results) Presentation (2 results)

  • [Journal Article] 大株主と利益の質―レビューと将来研究の展望―2024

    • Author(s)
      榎本正博
    • Journal Title

      RIEB Discussion Paper Series

      Volume: 2024-2 Pages: 1-22

    • Related Report
      2023 Annual Research Report
  • [Journal Article] 銀行の経営者交代の特徴について-経営者のプロフィールと財務比率を中心として-2023

    • Author(s)
      榎本正博・深谷優介
    • Journal Title

      経済経営研究(年報)

      Volume: 72 Pages: 49-93

    • Related Report
      2022 Research-status Report
  • [Journal Article] Top Executive Turnover and Loan Loss Provisions: Evidence from Japanese Regional Banks2023

    • Author(s)
      Masahiro Enomoto and Yusuke Fukaya
    • Journal Title

      RIEB Discussion Paper Series

      Volume: No.DP2023-06 Pages: 1-46

    • Related Report
      2022 Research-status Report
  • [Journal Article] 銀行の経営者交代の特徴について-財務比率を中心として-2022

    • Author(s)
      榎本正博・深谷優介
    • Journal Title

      RIEB Discussion Paper Series

      Volume: DP2022-J05 Pages: 1-33

    • Related Report
      2021 Research-status Report
  • [Journal Article] Cross-Country Research on Earnings Quality: A Literature Review and Future Opportunities2020

    • Author(s)
      Enomoto Masahiro
    • Journal Title

      The Japanese Accounting Review

      Volume: 10 Issue: 1 Pages: 1-26

    • DOI

      10.11640/tjar.10.2020.01

    • NAID

      130007967826

    • ISSN
      2185-4785, 2185-4793
    • Year and Date
      2020-12-28
    • Related Report
      2020 Research-status Report
    • Open Access
  • [Journal Article] 日本企業の経営者交代の特性 : 経営者の属性, 財務比率, 特殊比率の観点から2020

    • Author(s)
      榎本正博 / 山口朋泰
    • Journal Title

      國民經濟雜誌

      Volume: 222(6) Pages: 39-65

    • Related Report
      2020 Research-status Report
  • [Presentation] 大株主と利益の質研究について2024

    • Author(s)
      榎本正博
    • Organizer
      日本会計研究学会特別委員会「コーポレート・ガバナンスの変革が会計に及ぼす影響に関する研究」第2回委員会
    • Related Report
      2023 Annual Research Report
  • [Presentation] Top Executive Turnover and Loan Loss Provisions: Evidence from Japanese Regional Banks2023

    • Author(s)
      Masahiro Enomoto and Yusuke Fukaya
    • Organizer
      RIEBセミナー
    • Related Report
      2022 Research-status Report

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Published: 2020-04-28   Modified: 2025-01-30  

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