2019 Fiscal Year Final Research Report
Comprehensive Study on Legal Enforcement for Deterring Misrepresentation of Issuer
| Project/Area Number |
16K17037
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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 |
Civil law
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| Research Institution | Seinan Gakuin University |
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Principal Investigator |
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| Project Period (FY) |
2016-04-01 – 2020-03-31
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| Keywords | 不実開示 / 虚偽記載 / 情報開示 / 民事責任 / 相当な注意 / 有価証券 |
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| Outline of Final Research Achievements |
In this study, we discussed legal enforcement to deter issuers from making misrepresentations. The study focused on the pursuit of civil liability of the issuer and its directors. As a result of my research, we published papers on the insurability of the civil liability of issuers for false statements in securities filings, the interpretation of the negligence for each responsible entity, such as directors, the damage theory of misrepresentation, and the liability for misrepresentation of information about corporate governance.
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| Free Research Field |
金融商品取引法
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| Academic Significance and Societal Importance of the Research Achievements |
不実開示は、投資者の投資判断をゆがめて損害を被らせるとともに、有価証券の市場価格をゆがめて資源の効率的な配分を阻害するものであり、その抑止を図ることが必要となる。他方、不実開示に対する法的エンフォース面が過剰な内容・水準で行われる場合、有益な情報の開示が阻害されることになる。本研究では、不実開示に関する法的エンフォースメントをめぐる幾つかの問題を取り上げて、不実開示の効率的な抑止のための法制度の設計について検討を行った。
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