2021 Fiscal Year Final Research Report
Effect of non-financial information disclosure on stock price discovery and corporate financial performance
| Project/Area Number |
18K01711
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Review Section |
Basic Section 07060:Money and finance-related
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| Research Institution | Waseda University |
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Principal Investigator |
TAKEHARA Hitoshi 早稲田大学, 商学学術院(経営管理研究科), 教授 (70261782)
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| Co-Investigator(Kenkyū-buntansha) |
海老原 崇 武蔵大学, 経済学部, 教授 (00367129)
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| Project Period (FY) |
2018-04-01 – 2022-03-31
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| Keywords | 特許権 / 商標権 / 無形資産 / 非財務情報開示 / CSR / 企業価値評価 |
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| Outline of Final Research Achievements |
In this research project, we examined the impact of intangible assets such as patents and trademarks owned by Japanese firms on firm value. We also empirically clarified the interrelationship between CSR activities, technological competitiveness, and firm value. The empirical results show that both intangible assets and CSR activities reduce the financial risks faced by the firms.
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| Free Research Field |
経営学
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| Academic Significance and Societal Importance of the Research Achievements |
我が国においては, これまで研究の蓄積が極めて少なかった, 無形資産, 非財務情報開示と企業価値との関係について実証分析を実施して, 企業のリスク/リターン特性への影響を明らかにした点は大きな貢献であると考える.
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