Board reform and corporate scandal: Empirical analysis on the executive officer system and outside directors

2017 Fiscal Year Final Research Report

• Project/Area Number: 26380473
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Management
• Research Institution: Chuo University
• Principal Investigator: Aoki Hidetaka 中央大学, 総合政策学部, 教授 (90318759)
• Co-Investigator(Kenkyū-buntansha): 山野井 順一 早稲田大学, 商学学術院, 准教授 (20386543)
• Project Period (FY): 2014-04-01 – 2018-03-31
• Keywords: 企業不祥事 / 取締役会改革 / 会計不正 / 粉飾決算 / コーポレート・ガバナンス / 社外取締役 / 執行役員制度

Outline of Final Research Achievements

This project aimed at academic and pragmatic contribution for corporate governance reforms in Japan by statistically analyzing the mutual relationship between the characteristics of board of directors and corporate scandals.
The first task was to confirm whether corporate governance reforms would progress after the corporate scandal. The second task was to examine whether the introduction of the executive officer system and outside directors contribute to strengthen the monitoring function of board of directors and prevent corporate scandal. As a result, we confirmed that (1) corporate scandal facilitate corporate governance reforms, and (2) corporate governance characteristics affect financial misconduct.
Finally, our efforts resulted in 1 book, 2 papers and 13 conference presentations (including international conference).

Free Research Field

経営学