AN EMPIRICAL STUDY OF GOING-PRIVATE FIRMS IN JAPAN
| Project/Area Number |
25380510
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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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| Research Field |
Management
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| Research Institution | Tokyo Metropolitan University |
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Principal Investigator |
MATSUDA CHIEKO 首都大学東京, 社会(科)学研究科, 教授 (80613140)
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| Project Period (FY) |
2013-04-01 – 2016-03-31
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| Project Status |
Completed (Fiscal Year 2015)
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| Budget Amount *help |
¥4,810,000 (Direct Cost: ¥3,700,000、Indirect Cost: ¥1,110,000)
Fiscal Year 2015: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2014: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Fiscal Year 2013: ¥2,340,000 (Direct Cost: ¥1,800,000、Indirect Cost: ¥540,000)
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| Keywords | 非上場化 / 親子上場 / MBO / 資本市場 / 経営財務 / 企業経営 / 経営学 |
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| Outline of Final Research Achievements |
This study analyzes the delisting of companies in Japan, which has increased in recent years. Many companies voluntarily want to go private, while delisting used to be occured only in case of bankruptcy, etc. This study seeks to determine why companies change their minds from staying their listed status to going private, and describe the social and economic significance of Japan’s capital market and its function.
The study succcessfuly reveals the characteristics of going private companies in Japan, clarifying the empirical results and adding a new discovery. It also empirically reveals that the factors leading to going private decisions differ according to firm attributes. The study conducts a positive analysis of going-private transactions in which conflicts of interest can become a problem influencing the decision making of stakeholders such as management and shareholders.
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Report
(4 results)
Research Products
(10 results)
