| Budget Amount *help |
¥4,550,000 (Direct Cost: ¥3,500,000、Indirect Cost: ¥1,050,000)
Fiscal Year 2014: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2013: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2012: ¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
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| Outline of Final Research Achievements |
The purpose of this study is to investigate corporate disclosure behavior in interfirm relationships. First, I consider the incentives for upstream firms to disclose information in two competing supply chains, each consisting of one upstream firm and one downstream firm. In this setting, we examine whether or not upstream firms choose to disclose information. We also investigate the effect of equity ownership on the incentive for upstream firms to disclose. Second, I consider how the manager decides to disclose or withhold segment information in the capital market setting. In particular, I find that the manager withholds segment earnings information and achieves higher firm value if the manager focuses on one segment with a relatively small market and/or relatively high precision of information. Finally, I also empirically investigate some basic implications in product and capital market settings.
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