2007 Fiscal Year Final Research Report Summary
Why such a low level of value relevance is existing in Japan capital market after the accounting Big Bang of 2000?
| Project/Area Number |
17530349
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Accounting
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| Research Institution | Meijo University |
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Principal Investigator |
KUNIMURA Michio Meijo University, Business Management, Professor (70089952)
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| Co-Investigator(Kenkyū-buntansha) |
MISAWA Tetsuya Nagoya City University, Economics, Professor (10190620)
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| Project Period (FY) |
2005 – 2007
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| Keywords | Disclosure / Tax Effect Accounting / Consolidated statements / Accounting Big Bang / Avoiding Small Losses / Earnings management / Accruals / Small Profit |
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| Research Abstract |
We tried to explain the question "Why such a low level of value relevance is existing in Japan capital market after the accounting Big Bang of 2000?"
We examined value relevance dividing earnings into core earnings and transitory earnings which include special items. After the accounting Big Bang, core earnings of financial statements had shown strong value relevance in Japan capital market.
We could not directly identified value relevance in the time of introduction of new each regulation. Then we tried new two analyses
The kinked distribution of the consolidated earnings among firms listed in Tokyo Securities Exchange was identified more clearly after the accounting big bang when the consolidated financial statements had took the main position in financial statements.
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