Reexamination of the consequences of managerial turnover in Japanese firms: From the perspective of their influence on and responsibility for decision-making

2023 Fiscal Year Final Research Report

• Project/Area Number: 20K13553
• Research Category: Grant-in-Aid for Early-Career Scientists
• Allocation Type: Multi-year Fund
• Review Section: Basic Section 07080:Business administration-related
• Research Institution: Osaka University (2022-2023); Tokyo University of Foreign Studies (2020-2021)
• Principal Investigator: Watanabe Shu 大阪大学, 大学院経済学研究科, 准教授 (90754408)
• Project Period (FY): 2020-04-01 – 2024-03-31
• Keywords: 経営戦略論 / 経営組織論 / 経営者 / 事業の再構築 / 経営者交代 / 撤退

Outline of Final Research Achievements

The purpose of this study was to examine the relationship between managerial turnover and business restructuring, both theoretically and empirically.The study focused on various aspects of business restructuring, such as strategic change, entry into new markets and withdrawal from existing businesses, and the impairment losses associated with business restructuring. The following three main research findings emerged from the study. First, the impact of management on business restructuring was theoretically examined from the perspective of corporate governance. Second, among the above, entry into new markets was empirically examined. Third, business restructuring (launching new businesses and withdrawing from existing product categories) was also analysed using data from a questionnaire survey.

Free Research Field

経営学

Academic Significance and Societal Importance of the Research Achievements

本研究の主たる貢献は，経営者が事業の再構築に与える影響を理論的・実証的に明らかにしたことである．理論的な検討では，社外取締役と経営者，企業の意思決定に関連した広範な研究の整理・統合を行った．そこでは，エージェンシー理論にもとづく標準的な企業統治論や，新制度派組織論，アッパー・エシュロンズ・パースペクティブの既存研究を丹念に読み解き，それぞれの前提を明らかにした上で，社外取締役と経営者が相互作用し，企業の意思決定に影響を与える過程に関する新たな分析視角を提供した．実証的には，事業の再構築として，新市場への参入と，新規事業立ち上げと既存製品カテゴリーからの撤退に関して，その要因を明らかにした．