| Budget Amount *help |
¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000)
Fiscal Year 2021: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2020: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2019: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2018: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2017: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
|
|---|
| Outline of Final Research Achievements |
Japan's Corporate Governance Code implemented in 2015 required the listed firms to appoint two or more outside directors, leading most companies to comply, resulting in a significant increase in outside directors. While outside directors are expected to contribute to governance improvement through monitoring of top management, it is also suggested that they are not adequately incentivized. Therefore, this study empirically examined whether the increased number of outside directors is adequately incentivized and whether it affects corporate behavior and performance. The findings did not indicate a significant trend of increased outside directors associated with the coositively impacting performance. However, they have an impact on certain aspects such as the sale of cross-shareholdings, indicating their contribution to governance improvement.
|
