• Search Research Projects
  • Search Researchers
  • How to Use
  1. Back to project page

2003 Fiscal Year Final Research Report Summary

Impact on Corporation Law made by International Unification of Accounting Standards

Research Project

Project/Area Number 13420013
Research Category

Grant-in-Aid for Scientific Research (B)

Allocation TypeSingle-year Grants
Section一般
Research Field Civil law
Research InstitutionThe University of Tokyo

Principal Investigator

EGASHIRA Kenjiro  University of Tokyo, Graduate School of Law and Politics, Professor, 大学院・法学政治学研究科, 教授 (20009822)

Co-Investigator(Kenkyū-buntansha) KANDA Hideki  The University of Tokyo, Graduate School of Law and Politics, Professor, 大学院・法学政治学研究科, 教授 (90114454)
YAMASHITA Tomonobu  The University of Tokyo, Graduate School of Law and Politics, Professor, 大学院・法学政治学研究科, 教授 (10107485)
IWAHARA Shinsaku  The University of Tokyo, School of Law and Politics, Professor, 大学院・法学政治学研究科, 教授 (20107486)
FUJITA Tomotaka  The University of Tokyo, Graduate School of haw and Politics, Professor, 大学院・法学政治学研究科, 教授 (80209064)
MASUI Yoshihiro  The University of Tokyo, Graduate School of Law and Politics, Professor, 大学院・法学政治学研究科, 教授 (90199688)
Project Period (FY) 2001 – 2003
KeywordsInternational Accounting Standards / reform of corporation law / annual reports / financial statements / limitations on sources of dividends / stock purchase / subscription warrants / services as consideration for shares / corporation with committees
Research Abstract

International unification of accounting standards owing to establishment of International Accounting Standards by IASB has a large impact on Japanese corporation law in two aspects. One is how its provisions concerning accounting should be amended in harmony with the international movements. The other is how it should cope with the changes of business conducts of companies brought about by the new accounting standards.
Concerning the first point, we published several articles on the recent amendments of Japanese corporation law with regard to capital reserves and limitations on sources of dividends. The most important issue in the fixture is the Accounting Standard of Share-based Payment. Our conclusions on the issue are as follows. If Japanese corporation law is amended in harmony with the Exposure Draft on Share-based Payment of IASB, it must introduce the new idea which has not existed in Japan that the corporation may issue stock purchase/subscription warrants in exchange for servic … More es. There would be no serious problems in publicly-held corporations, if services are permitted as consideration for shares. However, some abuses might occur in the case of closely-held corporations which do not disclose any financial statements. Since there is a risk of overvaluation in services which have no market prices, the possibility should not be excluded that the corporation law requires the special resolution of shareholders meeting in case the corporations accept services as consideration of shares. Since services may be provided for a period of time, such amendment of corporation law is needed that payment by installment to stock purchase/subscription warrants is permitted. The principle of labor law that the wages shall always be paid in cash must be abolished.
Concerning the second point, the most serious problem to Japanese corporations was so-called "legend" of the financial statements written in English in 2001. However, the auditor system and the new type of corporation (corporation with committees) have become the most important issue after the Enron scandal in autumn of 2001. The Accounting Standard of Impairment of Assets which is to be applied in Japan from 2005 has a great influence on he conducts of business of Japanese corporations by giving rise to a great number of M&A and restructuring activities today. Less

  • Research Products

    (18 results)

All Other

All Publications (18 results)

  • [Publications] 江頭憲治郎: "法定準備金制度の規制緩和"ジュリスト. 1206号. 117-121 (2001)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] 神田秀樹: "商法上の資本および法定準備金と関連問題"税研. 107号. 31-36 (2003)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] 増井良啓: "租税制度の国際的調和"社会科学研究. 53巻4号. 43-68 (2002)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] 増井良啓: "組織形態の多様化と所得税制"租税法研究. 30号. 1-27 (2002)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] 藤田友敬: "オプションの発行と会社法-新株予約権の創設とその問題点(上)(下)"商事法務. 1622号・1623号. 18-27, 30-37 (2002)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] 神田秀樹: "会社形態・設立・計算・組織再編関係"商事法務. 1686号. 4-11 (2004)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] 江頭憲治郎: "日本の公開会社における取締役の義務"商事法務. 1693号. 4-10 (2004)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] 神田秀樹: "『検証・アメリカ経済』(伊藤隆敏・財務省財務総合政策研究所編)のうち論文名「エンロン事件とアメリカのコーポレート・ガバナンス改革」"日本評論社. 18 (2004)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] 江頭憲治郎: "書名『商事法への提言-落合誠一先生還暦記念』のうち論文名「ストック・オプションの費用計上と商法」"商事法務(2004年5月刊行予定). 24 (2004)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] Kenjiro EGASHIRA: "Reform to Facilitate the Distributions from Capital Reserves"Jurist. Vol.1206. 117-121 (2001)

    • Description
      「研究成果報告書概要(欧文)」より
  • [Publications] Hideki KANDA: "Capital, Capital Reserves and Related Issues in Commercial Law"Zeiken. Vol.107. 31-36 (2003)

    • Description
      「研究成果報告書概要(欧文)」より
  • [Publications] Yoshihiro MASUI: "Tax Harmonization : Why and How"The Journal of Social Science. Vol.63. 43-68 (2002)

    • Description
      「研究成果報告書概要(欧文)」より
  • [Publications] Yoshihiro MASUI: "Income Taxation of Various Entities"Japan Tax Law Review. Vol.30. 1-27 (2002)

    • Description
      「研究成果報告書概要(欧文)」より
  • [Publications] Tomotaka FUJITA: "Issuing Call Options and Corporation Law : Introduction of Stock Purchase/Subscription Warrants System and Related Problems"Commercial Law Review. Vol.1622,Vol.1623. 18-27, 30-37 (2002)

    • Description
      「研究成果報告書概要(欧文)」より
  • [Publications] Hideki KANDA: "Issues concerning Selection of Form of Enterprise, Incorporation, Accounting and Fundamental Changes"Commercial Law Review. Vol.1686. 4-11 (2004)

    • Description
      「研究成果報告書概要(欧文)」より
  • [Publications] Kenjiro EGASHIRA: "Duties of Directors in Japanese Publicly-Held Corporations"Commercial Law Review. Vol.1693. 4-10 (2004)

    • Description
      「研究成果報告書概要(欧文)」より
  • [Publications] Hideki, KANDA: "Enron Scandal and Reform of Corporate Governance in the United States"Reexamination of U.S. Economy (Takatoshi ITO et al (ed.)) (Nippon Hyoronsha). (2004)

    • Description
      「研究成果報告書概要(欧文)」より
  • [Publications] Kenjiro EGASHIRA: "Recognition of an Expense of Share-Based Payment and Commercial Law Issues"Proposals to Commercial Law, (Soichiro KOZUKA et al (ed.)) (Shoji Homu). (2004)

    • Description
      「研究成果報告書概要(欧文)」より

URL: 

Published: 2005-04-19  

Information User Guide FAQ News Terms of Use Attribution of KAKENHI

Powered by NII kakenhi