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Are family firms in Japan resilient to economic shock? Digging further by family types, management strategies, and earnings quality.

Research Project

Project/Area Number 24K00297
Research Category

Grant-in-Aid for Scientific Research (B)

Allocation TypeMulti-year Fund
Section一般
Review Section Basic Section 07080:Business administration-related
Research InstitutionKwansei Gakuin University

Principal Investigator

児島 幸治  関西学院大学, 国際学部, 教授 (80388727)

Co-Investigator(Kenkyū-buntansha) ADHIKARY B.K.  兵庫県立大学, 国際商経学部, 教授 (40512976)
忽那 憲治  東京大学, 応用資本市場研究センター, 特任教授 (00275273)
菅原 智  関西学院大学, 商学部, 教授 (40331839)
Project Period (FY) 2024-04-01 – 2027-03-31
Project Status Granted (Fiscal Year 2024)
Budget Amount *help
¥8,970,000 (Direct Cost: ¥6,900,000、Indirect Cost: ¥2,070,000)
Fiscal Year 2026: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2025: ¥3,250,000 (Direct Cost: ¥2,500,000、Indirect Cost: ¥750,000)
Fiscal Year 2024: ¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000)
KeywordsFamily firms / Corporate governance / Economic shocks / Earnings management / Resilience
Outline of Research at the Start

Our key research questions are: (1) Are family firms in Japan resilient to economic shocks compared to nonfamily firms? If so, does it vary by family types, such as founder-run, heir-run, and salaryman? (2) Do governance elements influence the financial resilience of family firms? (3) What financial, physical, and human capital management strategies do the family firms adopt during economic shocks to protect the firm value and earnings quality? We empirically examine these research questions using the updated family-firms database.

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Published: 2024-04-11   Modified: 2024-06-24  

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