Earnings management of Japanese Business Group
| Project/Area Number |
21530474
|
|---|
| Research Category |
Grant-in-Aid for Scientific Research (C)
|
| Allocation Type | Single-year Grants |
|---|
| Section | 一般 |
|---|
| Research Field |
Accounting
|
|---|
| Research Institution | Gakushuin University |
|---|
Principal Investigator |
|
|---|
| Project Period (FY) |
2009 – 2011
|
| Project Status |
Completed (Fiscal Year 2011)
|
| Budget Amount *help |
¥2,340,000 (Direct Cost: ¥1,800,000、Indirect Cost: ¥540,000)
Fiscal Year 2011: ¥130,000 (Direct Cost: ¥100,000、Indirect Cost: ¥30,000)
Fiscal Year 2010: ¥520,000 (Direct Cost: ¥400,000、Indirect Cost: ¥120,000)
Fiscal Year 2009: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
|
|---|
| Keywords | 会計学 / 経営学 / 利益調整 / 経営者予想 / 企業グループ / 非上場化 / 子会社 / コーポレートガバナンス / ロジット分析 / 会計実証研究 / MBO / 上場子会社 |
|---|
| Research Abstract |
We examine the driving factors behind going-private decisions for listed subsidiaries in Japan. In the logistic analysis, we find that higher leverage, lower capital expenditure to total assets and lower return on assets are significantly related to the probability of delisting event. Market-to-book ratio is not statistically significant in the logistic analysis. We do not find evidence that parent company takes advantage of the higher valuation. The parent company might want to put the extra debt of highly levered subsidiaries to parent’s balance sheet to get the better debt contract.
|
Report
(4 results)
Research Products
(3 results)
