Institutional Investor Governance: Evidence from Stewardship Code Disclosures
| Project/Area Number |
21K01780
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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 | Hitotsubashi University |
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Principal Investigator |
Routledge J. 一橋大学, 大学院経営管理研究科, 教授 (50771268)
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| Project Period (FY) |
2021-04-01 – 2024-03-31
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| Project Status |
Completed (Fiscal Year 2023)
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| Budget Amount *help |
¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2023: ¥260,000 (Direct Cost: ¥200,000、Indirect Cost: ¥60,000)
Fiscal Year 2022: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2021: ¥2,600,000 (Direct Cost: ¥2,000,000、Indirect Cost: ¥600,000)
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| Keywords | Stewardship Code / Institutional Investors / Compliance / Accounting / Corporate Governance / Governance |
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| Outline of Research at the Start |
The grant will enable research that explores the Stewardship Code compliance statements of Tokyo Stock Exchange institutional investors. These statements provide new information about institutional investor engagement and governance with investee companies. Grant funding of equipment, access to commercial databases, and collection of data from Stewardship Code statements (from 2015 to 2020) will support the research plan. Conference presentations and peer reviewed publications are the anticipated outcomes.
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| Outline of Annual Research Achievements |
Activity in 2023 is consistent with the research plan. The first stage of the study involved analyzing Stewardship Code disclosures by institutional investors and collating data. Having completed this task, the focus has shifted to refining working papers and their submission to journals. A paper has been accepted for publication in a peer-reviewed journal (Stewardship Regulation and Institutional Investors’ Preference for Investee Governance Quality). Another submitted paper received a revise and resubmit decision (Investor Stewardship Disclosure and Firm R&D Investment). The paper has been resubmitted. It is planned that further research papers will be developed from the data gathered using grant funds.
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Report
(3 results)
Research Products
(1 results)
