A study of narrative business risk disclosure: Evidence from Japan
| Project/Area Number |
26780255
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Multi-year Fund |
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| Research Field |
Accounting
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| Research Institution | Tokyo Keizai University |
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Principal Investigator |
Kim Hyonok 東京経済大学, 経営学部, 教授 (40547270)
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| Project Period (FY) |
2014-04-01 – 2018-03-31
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| Project Status |
Completed (Fiscal Year 2017)
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| 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)
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| 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 |
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| 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.
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Report
(5 results)
Research Products
(10 results)
