2021 Fiscal Year Annual Research Report
Earnings Management Behavior of Family and Non-Family Firms in Japan: Further
| Project/Area Number |
20H01558
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| Research Institution | Doshisha University |
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Principal Investigator |
ADHIKARY B.K. 同志社大学, ビジネス研究科, 准教授 (40512976)
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| 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)
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| Project Period (FY) |
2020-04-01 – 2023-03-31
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| Keywords | earnings management / family firms / Japan / developing countries |
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| Outline of Annual Research Achievements |
The principal purpose of the research was to investigate empirically whether family firms practice earnings management to exhibit superior performance compared to nonfamily firms. In addition, the research was expected to clarify financial and management strategies adopted by family firms to achieve superior performance over nonfamily firms. Finally, it aimed at understanding the impact of the governance elements such as ownership structure, board composition, and audit quality on the earnings management behavior of family and nonfamily firms in Japan. To answer the above research questions, the researchers needed to hand-collect necessary accounting and financial information by conducting interviews with family firms in both Japan and outside Japan and to procure data from secondary sources such as annual reports and other databases such as Osiris, Bloomberg, Financial Quest, Nikkei Needs. However, as the COVID-19 pandemic inhibited us from conducting the field study as planned, we managed to visit some family firms in Japan and abroad for field study. Side by side, we hired research assistants to collect relevant secondary data from the listed firms in Japan and to classify them as family and nonfamily firms. In the meantime, we have published one academic paper and a book on the family firms in Japan using the subsidy.
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| Current Status of Research Progress |
Current Status of Research Progress
3: Progress in research has been slightly delayed.
Reason
The COVID-19 pandemic restricted us to go for international traveling and conduct survey. However, we were able to interview some family firms in Japan and abroad. Simultaneously, 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 three papers and a book. Thus, we are advancing our research smoothly although a little behind as planned.
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| Strategy for Future Research Activity |
We plan to attend international conferences and present our research results. We also plan to publish two academic papers and draft a book on the “Secrets of Success of family firms in Japan: cases and Lessons.” Also, we plan to update our database by inputting the latest year’s information. Finally, we plan to conduct interviews with the family firms in Japan and abroad to finalize our expected book on family firms.
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