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2011 Fiscal Year Final Research Report

Empirical Study of Corporate Governance from Diversified Viewpoint

Research Project

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Project/Area Number 21330088
Research Category

Grant-in-Aid for Scientific Research (B)

Allocation TypeSingle-year Grants
Section一般
Research Field Business administration
Research InstitutionHitotsubashi University

Principal Investigator

HACHIYA Toyohiko  一橋大学, 大学院・商学研究科, 教授 (00251645)

Research Collaborator YAMAMOTO Osamu  ユニゾン・キャピタル株式会社
RAMIREZ Pablo gonzalo  東京工業大学, COE研究員
ICHIKAWA Tomoharu  株式会社あおぞら銀行
MITSUSADA Yousuke  あすかアセットマネジメント株式会社
SHIGEMI Yousuke  日本銀行金融研究所
IRIE Kazuhiko  三菱商事株式会社
MIZUTANI Kensaku  GCAサヴィアングループ株式会社
YAMADA Michitoshi  旭硝子株式会社
YAMADA Takashi  新光投信株式会社
Project Period (FY) 2009 – 2011
Keywords経営財務 / コーポレート・ガバナンス / 株主構造 / 自己株式取得 / 金庫株
Research Abstract

We studied some subjects including the effect of ownership structure on firms' financial behavior ; the effect of board structure on corporate performance ; the effect of block-holding on equity return. Our studies show that internal and external governance mechanisms have statistically significant impact on corporate behavior and performance.

  • Research Products

    (14 results)

All 2011 2010 2009 2007

All Journal Article (10 results) (of which Peer Reviewed: 9 results) Presentation (4 results)

  • [Journal Article] 企業はどういう動機で金庫株消却を行うか-企業行動に関する実証分析-2011

    • Author(s)
      光定洋介・蜂谷豊彦
    • Journal Title

      経営財務研究日本経営財務研究学会

      Volume: 第30巻 Pages: 61-82

    • Peer Reviewed
  • [Journal Article] 自己株式取得の動機と株式所有構造-過小評価シグナリング動機からみた株主の影響-2011

    • Author(s)
      蜂谷豊彦・滕敏
    • Journal Title

      証券経済研究

      Volume: 第76号 Pages: 129-146

    • Peer Reviewed
  • [Journal Article] Ownership Structure, Managerial Decision, and Stock Repurchase in Japan2011

    • Author(s)
      Teng, Min, and Toyohiko Hachiya
    • Journal Title

      Middle Eastern Finance and Economics

      Volume: Issue 12 Pages: 25-41

    • Peer Reviewed
  • [Journal Article] The Impact of Regulatory Reform on Stock Repurchases : Evidence from Japan2011

    • Author(s)
      Teng, Min, and Toyohiko Hachiya
    • Journal Title

      Journal of Applied Finance & Banking

      Volume: Vol.1 No.3 Pages: 159-187

    • Peer Reviewed
  • [Journal Article] 株主の圧力と経営者の判断2011

    • Author(s)
      蜂谷豊彦・滕敏
    • Journal Title

      日本企業研究のフロンティア7

      Volume: 第5章 Pages: 49-61

  • [Journal Article] 取締役会改革と企業価値の変化2010

    • Author(s)
      入江和彦・蜂谷豊彦
    • Journal Title

      現代ファイナンス

      Volume: No.28 Pages: 45-67

    • Peer Reviewed
  • [Journal Article] 株式所有構造と株式リターン-大口株主による所有の影響-2010

    • Author(s)
      山田隆・蜂谷豊彦
    • Journal Title

      証券経済研究

      Volume: 72号 Pages: 141-153

    • Peer Reviewed
  • [Journal Article] 投資家はなぜ消却を求めるか:金庫株消却からみるエージェンシー・コスト2009

    • Author(s)
      光定洋介・蜂谷豊彦
    • Journal Title

      証券アナリストジャーナル

      Volume: 第47巻第5号 Pages: 89-102

    • Peer Reviewed
  • [Journal Article] 内部資本市場の効率性からみたM & Aのパフォーマンス2009

    • Author(s)
      山田方敏・蜂谷豊彦
    • Journal Title

      管理会計学

      Volume: 第18巻第1号 Pages: 33-48

    • Peer Reviewed
  • [Journal Article] Assessing the intangible sources of profitability in Japan2009

    • Author(s)
      Ramirez, G. Pablo, and Toyohiko Hachiya
    • Journal Title

      International Journal of Business Performance Management

      Volume: Vol.11 No.4 Pages: 259-276

    • URL

      http://hermes-ir.lib.hit-u.ac.jp/ir/index.html

    • Peer Reviewed
  • [Presentation] Regulatory Reform and Corporate Financial Behavior : Evidence from Lifting the Ban on Treasury Stocks in Japan2010

    • Author(s)
      Teng, Min, and Toyohiko Hachiya
    • Organizer
      Twenty Second Asian-Pacific Conference on International Accounting Issues
    • Place of Presentation
      Gold Coast, Australia
    • Year and Date
      20100100
  • [Presentation] Agency Problems and Stock Repurchases : Evidence from Japan2010

    • Author(s)
      滕敏・蜂谷豊彦
    • Organizer
      日本ファイナンス学会第18回大会
    • Place of Presentation
      上智大学
    • Year and Date
      2010-05-23
  • [Presentation] Ownership structure and incentives to stock repurchase2009

    • Author(s)
      滕敏・蜂谷豊彦
    • Organizer
      日本経営財務研究学会第33回全国大会
    • Place of Presentation
      山口大学
    • Year and Date
      2009-09-25
  • [Presentation] Stock Repurchase as a Leverage Adjustment Device2007

    • Author(s)
      Teng, Min, and Toyohiko Hachiya
    • Organizer
      Asian Financial Association 2009 International Conferences
    • Place of Presentation
      UQ Business School, Brisbane, Australia
    • Year and Date
      20070700

URL: 

Published: 2013-07-31  

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