2023 Fiscal Year Research-status Report
Cash holding and acquisition performance of public and private Japanese corporations
| Project/Area Number |
21K01570
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| Research Institution | Waseda University |
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Principal Investigator |
グエン・ティ・フォン タン 早稲田大学, 産業経営研究所, その他(招聘研究員) (60791928)
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| Co-Investigator(Kenkyū-buntansha) |
NGUYEN GIANG 早稲田大学, 政治経済学術院, その他(招聘研究員) (70835462)
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| Project Period (FY) |
2021-04-01 – 2025-03-31
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| Keywords | Cash reserves / Public vs listed firms / Firm behavior / Firm performance / Corporate governance / Japan |
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| Outline of Annual Research Achievements |
Our research aims to investigate the impact of firm behavior on firm performance. We focus on examining the practice of huge cash holding by Japanese firms and compare the cash use and investment efficiency between listed firms and private firms. In addition, we expand the research to examine the effects of recent
corporate governance changes in Japan on the firm behavior and firm performance, whether the increase on institutional ownership or the appointment of more outside directors can change the cash holding practices of Japanese firms or bring in any improvement on firm investment results and firm performance. This year, we expanded the research to examine recent firms' sustainable investment and reporting.
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| Current Status of Research Progress |
Current Status of Research Progress
2: Research has progressed on the whole more than it was originally planned.
Reason
The research is being carried out smoothly. We finished data collection, data treatment, main analysis and draft writing. We are submitting the written
manuscript to international workshops and conferences in order to receive the comments from discussants and conference reviewers.
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| Strategy for Future Research Activity |
Our plans for this year include:
1/ Present results at workshops and conferences: the European Financial Management Association 2024 Annual Meeting; the 9th International Conference on Accounting and Finance (ICOAF-2024); the 12th International Conference on Emerging Challenges: Sustainable Strategies in the Data driven Economy.
2/ Revise the manuscript based on responses from conference referees and participants.
3/ Finalize the manuscript and submit to targeted journals.
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