| Budget Amount *help |
¥4,680,000 (Direct Cost: ¥3,600,000、Indirect Cost: ¥1,080,000)
Fiscal Year 2015: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2014: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2013: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2012: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2011: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
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| Outline of Final Research Achievements |
It is often argued that large Japanese firms tend to emphasize the interest of employees rather than that of shareholders. At the same time, it is considered that top managers become to emphasize the interest of shareholders. To investigate this topic, , we examined firms' employment reduction and dividend cut behavior, using panel data of listed companies. We find that there is a change in firm behavior in 2000s, compared with 1990s’. Since 2000, firms have been more likely to reduce employees. This result is consistent with the idea that Japanese firms become to emphasize the interest of shareholders.
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