| Budget Amount *help |
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2015: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2014: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
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| Outline of Final Research Achievements |
The purpose of this study is to examine whether the balance sheet approach improves the usefulness of accounting information by focusing on recognition versus disclosure of accounting information. The main results of this study are as follows. (1) When capitalization of finance leases is required, firm managers engage in both accounting-based and real-based balance sheet management. (2) A credit rating agency considers operating lease information in determining credit ratings to the extent that this information is reliable. (3) The risk relevance of finance leases is substantially different between recognition in financial statements and disclosure in the notes when using bond yield spread; however, recognized and disclosed finance leases are treated similarly when determining credit ratings. These results suggest that capital market participants' information processing and firms' information environment have significant effects on the usefulness of accounting information.
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