Corporate Governance and Corporate Behavior in Japan The Consequenc
This book carefully examines the effects of changes in the corporate governance structure on corporate behavior or company performance, using micro-data from listed companies in Japan. The author found that in Japan the introduction of stock options had n
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Masaharu Hanazaki
Corporate Governance and Corporate Behavior in Japan The Consequences of Stock Options and Corporate Diversification
SpringerBriefs in Economics Development Bank of Japan Research Series
Series Editor Keimei Kaizuka Editorial Board Members Akiyoshi Horiuchi Toshihiro Ihori Eiji Ogawa Masayuki Otaki Masaharu Hanazaki Masaaki Komiya Jun-ichi Nakamura Akihiko Mori
This series is characterized by the close academic cohesion of financial economics, environmental economics, and accounting, which are the three major fields of research of the Research Institute of Capital Formation (RICF) at the Development Bank of Japan (DBJ). Readers can acquaint themselves with how a financial intermediary efficiently restructuring firms in financial distress, can contribute to economic development. The aforementioned three research fields are closely connected with one another in the following ways. DBJ has already developed several corporation-rating methods, including the environmental rating by which DBJ decides whether or not to make concessions to the candidate firm. To evaluate the relevance of this rating, research, which deploys not only financial economics but also environmental economics, is necessary. The accounting section intensively studies the structure of IFRS and Integrated Reporting to predict their effects on Japanese corporate governance. Although the discipline of accounting is usually isolated from financial economics, structural and reliable prediction is never achieved without sufficient and integrated knowledge in both fields. Finally, the environmental economics section is linked to the accounting section in the following manner. To establish green accounting (environmental accounting), it is indispensable to explore what the crucial factors for the preservation of environment (e.g. emission control) are. RICF is well-equipped to address the acute necessity for discourse among researchers who belong to these three different fields.
More information about this series at http://www.springer.com/series/13542
Masaharu Hanazaki
Corporate Governance and Corporate Behavior in Japan The Consequences of Stock Options and Corporate Diversification
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Masaharu Hanazaki Graduate School of Commerce and Management Hitotsubashi University Tokyo Japan and Research Institute of Capital Formation Development Bank of Japan Tokyo Japan
ISSN 2191-5504 ISSN 2191-5512 (electronic) SpringerBriefs in Economics ISSN 2367-0967 ISSN 2367-0975 (electronic) Development Bank of Japan Research Series ISBN 978-4-431-56004-3 ISBN 978-4-431-56006-7 (eBook) DOI 10.1007/978-4-431-56006-7 Library of Congress Control Number: 2016943876 © Development Bank of Japan 2016 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation,
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