The Impact of Huge Disasters on Capital Markets and Accounting Disclosure: Theory and Empirical Evidence
| Project/Area Number |
15H03402
|
|---|
| Research Category |
Grant-in-Aid for Scientific Research (B)
|
| Allocation Type | Single-year Grants |
|---|
| Section | 一般 |
|---|
| Research Field |
Accounting
|
|---|
| Research Institution | Waseda University |
|---|
Principal Investigator |
USUI Akira 早稲田大学, 商学学術院(経営管理研究科), 教授 (90193870)
|
|---|
| Co-Investigator(Kenkyū-buntansha) |
池田 昌幸 早稲田大学, 商学学術院, 教授 (20222903)
奥村 雅史 早稲田大学, 商学学術院, 教授 (30247241)
大鹿 智基 早稲田大学, 商学学術院, 教授 (90329160)
浅野 敬志 首都大学東京, 社会科学研究科, 教授 (30329833)
海老原 崇 武蔵大学, 経済学部, 教授 (00367129)
坂上 学 法政大学, 経営学部, 教授 (50264792)
吉田 靖 東京経済大学, 経営学部, 教授 (10383192)
|
|---|
| Project Period (FY) |
2015-04-01 – 2018-03-31
|
| Project Status |
Completed (Fiscal Year 2017)
|
| Budget Amount *help |
¥13,910,000 (Direct Cost: ¥10,700,000、Indirect Cost: ¥3,210,000)
Fiscal Year 2017: ¥4,680,000 (Direct Cost: ¥3,600,000、Indirect Cost: ¥1,080,000)
Fiscal Year 2016: ¥5,460,000 (Direct Cost: ¥4,200,000、Indirect Cost: ¥1,260,000)
Fiscal Year 2015: ¥3,770,000 (Direct Cost: ¥2,900,000、Indirect Cost: ¥870,000)
|
|---|
| Keywords | 会計学 |
|---|
| Outline of Final Research Achievements |
This study explains the impact of the Great East Japan Earthquake and the subsequent Fukushima-Daiichi Nuclear Power Plant accident, which occurred on March 11, 2011, on asset pricing and firm’s disclosure behavior in Japan. We investigate stock returns after the disasters, and post-earnings-announcement drift. Moreover, we also analyze the properties of management earnings forecasts and timely information disclosure after the disasters. Furthermore, we derive the pricing kernel, assuming that the probability of huge disasters occurring follows an extreme value distribution.
|
Report
(4 results)
Research Products
(53 results)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
[Presentation] 同族企業の配当政策2016
Author(s)
海老原崇・高橋孝輔
Organizer
日本ディスクロージャー研究学会
Place of Presentation
大阪市立大学（大阪府大阪市）
Year and Date
2016-12-08
Related Report
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
