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The Effect of Controlling Shareholders on the Properties of Earnings

Research Project

Project/Area Number 23730448
Research Category

Grant-in-Aid for Young Scientists (B)

Allocation TypeMulti-year Fund
Research Field Accounting
Research InstitutionSeijo University (2012-2013)
Nagoya University of Commerce & Business (2011)

Principal Investigator

AOKI Yasuharu  成城大学, 経済学部, 准教授 (50553137)

Project Period (FY) 2011 – 2013
Project Status Completed (Fiscal Year 2013)
Budget Amount *help
¥3,510,000 (Direct Cost: ¥2,700,000、Indirect Cost: ¥810,000)
Fiscal Year 2013: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2012: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2011: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Keywords支配株主 / コーポレートガバナンス / 利益情報の有用性 / 保守主義 / 配当政策 / 最大株主 / 少数株主 / ペイアウト / 利益の質 / 利益調整 / 裁量的会計発生高
Research Abstract

This research examines the effect of controlling shareholders on (1) earnings informativeness, (2) accounting conservatism, and (3) dividend policy. The first study suggests that earnings informativeness is positively associated with ownership by the largest shareholder on the whole, but an inverted U-shaped relationship is observed for the firms whose largest shareholder is an outsider. The second paper reveals a negative relationship between ownership by the largest shareholder and accounting conservatism, whose strength increases with the existence of director overlap and the relative size of the investee firm to the largest shareholder firm. The third paper finds that the level of dividend payments and the relationship between ownership concentration and dividends depend on whether the largest shareholder is a company manager or another corporation.

Report

(4 results)
  • 2013 Annual Research Report   Final Research Report ( PDF )
  • 2012 Research-status Report
  • 2011 Research-status Report
  • Research Products

    (6 results)

All 2012

All Presentation (4 results) Book (2 results)

  • [Presentation] Accounting Conservatism and Corporate Shareholders : Evidence from Japan2012

    • Author(s)
      青木康晴
    • Organizer
      日本会計研究学会第71回大会
    • Place of Presentation
      一橋大学国立キャンパス
    • Year and Date
      2012-08-31
    • Related Report
      2013 Final Research Report
  • [Presentation] Controlling Shareholders and Dividends : Evidence from Japan2012

    • Author(s)
      青木康晴
    • Organizer
      日本ファイナンス学会第20回大会
    • Place of Presentation
      一橋大学大学院ICS 一ツ橋キャンパス
    • Year and Date
      2012-05-27
    • Related Report
      2013 Final Research Report
  • [Presentation] Controlling Shareholders and Dividends: Evidence from Japan2012

    • Author(s)
      青木 康晴
    • Organizer
      日本ファイナンス学会 第20回大会
    • Place of Presentation
      一橋大学大学院ICS一ツ橋キャンパス
    • Related Report
      2012 Research-status Report
  • [Presentation] Corporate Shareholders and Accounting Conservatism: Evidence from Japan2012

    • Author(s)
      青木 康晴
    • Organizer
      日本会計研究学会 第71回大会
    • Place of Presentation
      一橋大学国立キャンパス
    • Related Report
      2012 Research-status Report
  • [Book] 企業会計研究のダイナミズム 支配株主と利益情報の有用性 (第20章)2012

    • Author(s)
      伊藤邦雄(編著)、青木康晴
    • Publisher
      中央経済社
    • Related Report
      2013 Final Research Report
  • [Book] 企業会計研究のダイナミズム2012

    • Author(s)
      伊藤邦雄(編著)
    • Total Pages
      468
    • Publisher
      中央経済社
    • Related Report
      2012 Research-status Report

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Published: 2011-08-05   Modified: 2019-07-29  

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