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A study of narrative business risk disclosure: Evidence from Japan

Research Project

Project/Area Number 26780255
Research Category

Grant-in-Aid for Young Scientists (B)

Allocation TypeMulti-year Fund
Research Field Accounting
Research InstitutionTokyo Keizai University

Principal Investigator

Kim Hyonok  東京経済大学, 経営学部, 教授 (40547270)

Project Period (FY) 2014-04-01 – 2018-03-31
Project Status Completed (Fiscal Year 2017)
Budget Amount *help
¥3,510,000 (Direct Cost: ¥2,700,000、Indirect Cost: ¥810,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2015: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2014: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Keywordsリスク情報 / 非財務情報 / テキスト情報 / 企業価値評価 / 定性情報 / ビジネスリスク / リスクディスクロージャー / ゴーイングコンサーン
Outline of Final Research Achievements

The purpose of this study is to examine the information contents of narrative disclosure, especially focusing on the informativeness of business risk disclosure which is required to disclose since fiscal year 2003 in Japan. Using large sample from fiscal year 2003 to 2010, I find that the introduction of mandatory business risk disclosure has an impact on investors’ assessment of firms’ risk. I also find that while the management forecast revision of firms with a higher business risk disclosure level is discounted, a market reaction is not found when a firm issues a downward revision. I also find evidence that show engagement partners are involved with client’s business risk disclosure. The results of this study show that indicates that business risk disclosures affect investors’ decision making indicating the informativeness of business risk disclosure.

Report

(5 results)
  • 2017 Annual Research Report   Final Research Report ( PDF )
  • 2016 Research-status Report
  • 2015 Research-status Report
  • 2014 Research-status Report
  • Research Products

    (10 results)

All 2017 2016 2015 2014

All Journal Article (3 results) (of which Int'l Joint Research: 3 results,  Peer Reviewed: 3 results,  Acknowledgement Compliant: 1 results) Presentation (7 results) (of which Int'l Joint Research: 3 results)

  • [Journal Article] Effects of audit partners on clients’ business risk disclosure2017

    • Author(s)
      Hironori Fukukawa, Hyonok Kim
    • Journal Title

      Accounting and Business Research

      Volume: 印刷中 Issue: 7 Pages: 780-809

    • DOI

      10.1080/00014788.2017.1299619

    • Related Report
      2017 Annual Research Report 2016 Research-status Report
    • Peer Reviewed / Int'l Joint Research / Acknowledgement Compliant
  • [Journal Article] Business Risk Disclosure and Firm Risk: Evidence from Japan2017

    • Author(s)
      Hyonok Kim and Yukihiro Yasuda
    • Journal Title

      Research in International Business and Finance

      Volume: 2017-8 Pages: 00-00

    • DOI

      10.1016/j.ribaf.2017.07.172

    • Related Report
      2017 Annual Research Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] The Adoption of Stock Option Plans and Their Effects on Firm Performance during Japan’s Period of Corporate Governance Reform2017

    • Author(s)
      Hyonok Kim, Nobuhisa Hasegawa and Yukihiro Yasuda
    • Journal Title

      Journal of The Japanese and International Economies

      Volume: 44 Pages: 13-25

    • DOI

      10.1016/j.jjie.2017.02.002

    • Related Report
      2017 Annual Research Report
    • Peer Reviewed / Int'l Joint Research
  • [Presentation] A comparison of management and auditor going concern risk disclosure: Evidence from regulatory change in Japan2017

    • Author(s)
      Hyonok Kim, Hironori Fukukawa, James Routledge
    • Organizer
      American Accounting Association (San Diego, U.S)
    • Related Report
      2017 Annual Research Report
    • Int'l Joint Research
  • [Presentation] Japanese Bonds and Banks During the GLobal Financial Crisis2016

    • Author(s)
      Hyonok Kim & James A. Wilcox & Yukihiro Yasuda
    • Organizer
      European Financial Management Association
    • Place of Presentation
      Basel, Switzerland
    • Year and Date
      2016-06-29
    • Related Report
      2016 Research-status Report
    • Int'l Joint Research
  • [Presentation] Shocks and Shock Absorbers in Japanese Bonds and Banks During the GLobal Financial Crisis2016

    • Author(s)
      Hyonok Kim & James A. Wilcox & Yukihiro Yasuda
    • Organizer
      Multinational Finance Society
    • Place of Presentation
      Stockholm, Sweden
    • Year and Date
      2016-06-26
    • Related Report
      2016 Research-status Report
    • Int'l Joint Research
  • [Presentation] Effects of Audit Partners on Clients’ Business Risk Disclosure2015

    • Author(s)
      Hyonok Kim (co-worked with Hironori Fukukawa)
    • Organizer
      International Symposium on Audit Research 2015
    • Place of Presentation
      Boston, U.S.A.
    • Year and Date
      2015-06-20
    • Related Report
      2015 Research-status Report
  • [Presentation] Business Risk Factors in the IPO process, and their Timely Disclosure in the Secondary Market: Disclosure Roles in Risk Management2015

    • Author(s)
      Hyonok Kim (co-authored with Yukihiro Yasuda)
    • Organizer
      Western Risk and Insurance Association
    • Place of Presentation
      Phoenix, U.S.A.
    • Year and Date
      2015-01-06
    • Related Report
      2014 Research-status Report
  • [Presentation] Effects of Audit Partners on Clients’ Business Risk Disclosure (Best Paper Award)2014

    • Author(s)
      Hironori Fukukawa (co-authored with Hyonok Kim)
    • Organizer
      The 4th International Accounting Conference
    • Place of Presentation
      University of Indonesia, Indonesia
    • Year and Date
      2014-11-24
    • Related Report
      2014 Research-status Report
  • [Presentation] A new approach to identify the economic effects of disclosure: Information content of business risk disclosures in Japanese firms2014

    • Author(s)
      Hyonok Kim (co-authored with Yukihiro Yasuda)
    • Organizer
      American Accounting Association Annual Meeting
    • Place of Presentation
      Atlanta, U.S.A.
    • Year and Date
      2014-08-05
    • Related Report
      2014 Research-status Report

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Published: 2014-04-04   Modified: 2019-03-29  

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