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2020 Fiscal Year Annual Research Report

Earnings Management Behavior of Family and Non-Family Firms in Japan: Further

Research Project

Project/Area Number 20H01558
Research InstitutionDoshisha University

Principal Investigator

ADHIKARY B.K.  同志社大学, ビジネス研究科, 准教授 (40512976)

Co-Investigator(Kenkyū-buntansha) 忽那 憲治  神戸大学, 経営学研究科, 教授 (00275273)
児島 幸治  関西学院大学, 国際学部, 教授 (80388727)
Project Period (FY) 2020-04-01 – 2023-03-31
Keywordsearnings management / family firms / Japan / developing countries
Outline of Annual Research Achievements

The purpose of the research was to check whether family firms manage earnings than non-family firms to show superior performance. Also, the research was aimed to clarify what kind of financial and accounting strategies family firms adopt to achieve superior performance over the non-family firms. Finally, it was intended to check whether the governance elements such as ownership structure, board composition, and audit quality moderate the earnings management behavior of both family and non-family firms in Japan. To answer the above research questions, The researchers were needed to conduct interviews with family firms in both Japan and outside Japan and to collect necessary information on family firms' governance structure and management strategies. However, the COVID-19 related restrictions limited us from conducting field study in Japan and impeded us to visit foreign countries to have interviews and to share our research results at academic conferences. However, we managed to visit some family firms in Japan for field study. Therefore, We hired research assistants to compile necessary data on the listed firms in Japan and to classify them as family and non-family firms using secondary sources such as Japan Exchange Group database, EDINET, Bloomberg, and Bureau Van Dijk (Osiris) database. This means that we have updated our database in the mean time. Side by side, we have finished literature review and written two papers which were published in the refereed journals.

Current Status of Research Progress
Current Status of Research Progress

3: Progress in research has been slightly delayed.

Reason

Due to the negative impact of COVID-19 on international traveling, we were not able to visit countries outside Japan to interview family firms and attend international conferences. However, we have managed to collect data on listed family and non-family firms in Japan with the help of research assistants. In the meantime, we have published two papers. Thus, we progressing steadily although a little late.

Strategy for Future Research Activity

As the COVID-19 situation is weakening, We plan to attend international conferences and visit family firms in Japan and in other countries. Also, we plan to include additional variables such as types of family firms by generation to update our dataset. We plan to hire research assistants to complete this job. Also, we have planned to draft another paper titled "Does Foreign Ownership Promote the Performance of Family Firms? Empirical Evidence from Japan". We are planning to send this paper to an international journal.

  • Research Products

    (2 results)

All 2021 2020

All Journal Article (2 results) (of which Int'l Joint Research: 1 results,  Peer Reviewed: 2 results,  Open Access: 2 results)

  • [Journal Article] Do Manufacturing Firms in Bangladesh Engage in Earnings Management to Avoid Losses? Further Evidence Using Governance Elements as Monitors2021

    • Author(s)
      Adhikary, Bishnu Kumar, Ranjan K. Mitra, and Mohammad R. Meah
    • Journal Title

      Journal of Financial Reporting and Accounting

      Volume: 19 (5) Pages: 839-860

    • DOI

      10.1108/JFRA-05-2020-0131

    • Peer Reviewed / Open Access / Int'l Joint Research
  • [Journal Article] Corporate Governance and Firm Performance: A Comparative Analysis between Listed family and non-family firms in Japan2020

    • Author(s)
      Kojima, Koji, Bishnu Kumar Adhikary, and Le Tram
    • Journal Title

      Journal of Financial Risk and Management

      Volume: 13 Pages: 1-20

    • DOI

      10.3390/jrfm13090215

    • Peer Reviewed / Open Access

URL: 

Published: 2022-12-28  

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