Empirical Study for Analysis and Evaluation of Management Forecasts in Japan

2015 Fiscal Year Final Research Report

• Project/Area Number: 25380613
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Accounting
• Research Institution: Aoyama Gakuin University
• Principal Investigator: OGURA Noboru 青山学院大学, 会計プロフェッション研究科, 教授 (10145352)
• Co-Investigator(Kenkyū-buntansha): FENG Ling 東京理科大学, 理工学部, 准教授 (40339114) ; HISAMOCHI Eiji 青山学院大学, 大学院会計プロフェッション研究科, 准教授 (00308173)
• Project Period (FY): 2013-04-01 – 2016-03-31
• Keywords: 会計学 / 情報開示 / 資本市場 / 予想情報精度 / 業績予想誤差 / 会計制度 / 情報有用性

Outline of Final Research Achievements

We conducted a comprehensive empirical study for describing and evaluating management forecasts (MF) which Japanese listed companies periodically disclose to investors. This study consists of three research programs as (a) evaluation of management forecasts in the Japanese capital market, (b) impacts from accounting change, (c) robustness of information. As results of those research programs, we observed the changes had occurred in MF after accounting evolutions in Japan, and verified MF still remains some usefulness for the investors in the Japanese capital market.

Free Research Field

会計学