| Budget Amount *help |
¥4,550,000 (Direct Cost: ¥3,500,000、Indirect Cost: ¥1,050,000)
Fiscal Year 2017: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2016: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
Fiscal Year 2015: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
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| Outline of Final Research Achievements |
In this research, we conducted an empirical analysis on the effect of liabilities on retirement benefits on research and development activities, M & A, dividend policy, cash holdings, etc. In recent years, empirical analyzes are accumulating mainly in the United States as one of internal liabilities for liabilities related to retirement benefits. Therefore, after extending the theoretical research and empirical research on internal liabilities, we have constructed hypotheses and made various empirical analyzes. As a result, it was confirmed that the liability related to retirement benefits has exerted extremely great influence on various aspects such as conservative risk taking, characteristic of Japanese companies, dividend policy, M & A and cash holding. That is, as a logic that Japanese companies can not necessarily shift to emphasis on shareholders, we clarified that there is a liability related to retirement benefits which is an employee's share.
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