| 研究課題/領域番号 |
21K01780
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| 研究機関 | 一橋大学 |
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研究代表者 |
Routledge J. 一橋大学, 大学院経営管理研究科, 教授 (50771268)
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| 研究期間 (年度) |
2021-04-01 – 2024-03-31
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| キーワード | Stewardship Code / Institutional Investors / Governance |
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| 研究実績の概要 |
The first stage of the study focuses on documenting Stewardship Code disclosures by institutional investors and developing a reliable governance quality measure. Data collection from primary sources is complete. Research assistants have hand-collected information from the Stewardship Code disclosures for Code compliant institutional investors. Content analysis of disclosures is currently underway. Nikkei CGES Database CD purchase has made available data to be included in statistical models.
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| 現在までの達成度 (区分) |
現在までの達成度 (区分)
2: おおむね順調に進展している
理由
Progress is consistent with the research plan outlined in the grant application. In particular, the 2021 milestone of finalizing data collection from investor Stewardship Code disclosures has been reached. Data collection is a significant component of the research project, and its completion means the subsequent empirical analysis phase of the project can proceed according to the original schedule. There have been no significant unforeseen obstacles that have affected the originally planned progress.
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| 今後の研究の推進方策 |
The next major steps for the study are to: (1) complete content analysis of a Code disclosure data and develop a governance quality index; and (2) examine the relation between investee company outcomes and the extent and quality of governance provided by institutional investors as measured from their Code disclosures. Outcomes to be tested will focus on the quality of invest company financial reporting, audit quality and pricing, and corporate governance quality. Once empirical analysis is complete, working papers will be written. Submissions to conferences of The Japanese Accounting Review and the Accounting and Finance Association of Australia and New Zealand are planned for 2022-2023, followed by the development of papers for journal submission.
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| 次年度使用額が生じた理由 |
Minor amount carried to the next fiscal year will be used for research assistant costs.
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