The Study of the Regulatory Framework of Investment Company Act of 1940 and Its Significance in the U.S. Capital Market
| Project/Area Number |
25380106
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Civil law
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| Research Institution | The University of Tokushima |
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Principal Investigator |
SHIMIZU Masato 徳島大学, 大学院ソシオ・アーツ・アンド・サイエンス研究部, 准教授 (30434228)
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| Project Period (FY) |
2013-04-01 – 2016-03-31
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| Project Status |
Completed (Fiscal Year 2015)
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| Budget Amount *help |
¥4,680,000 (Direct Cost: ¥3,600,000、Indirect Cost: ¥1,080,000)
Fiscal Year 2015: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2014: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2013: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
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| Keywords | 米国投資会社法 / 組織再編 / ベンチャーキャピタル規制 / ファンド・アクティビズム / 機関投資家の議決権行使 / アクティビズム / ベンチャーキャピタル / ファンド・ガバナンス / 独立取締役 / ミューチュアル・ファンド / 投資信託 |
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| Outline of Final Research Achievements |
This study examined the regulatory framework of Investment Company Act of 1940 and its significance in the U.S. capital market. The Act has its unique regulatory provisions amending state's corporate law. These include the provisions regulating transactions of certain affiliated persons, capital structure, dividends, proxies; voting trusts; circular ownership, loans, distribution and repurchase of securities issued by closed-end companies, plans of reorganization. In this study, I examined the origin of these provisions at first in order to understand the historical reasons why these provisions were introduced in 1940. Next I focused on the functions of these provisions in specific scenes; reorganization of investment companies, regulating venture capital companies, and the activism of investment companies. I examined what problems arise when the 1940s act apply in these scenes and how the SEC cope with these problems by issuing rules, regulations and exemptive orders.
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Report
(4 results)
Research Products
(9 results)
