International Perspectives on Accounting and Corporate Behavior

1. Front Matter

   Pages i-ix

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2. Framework and Overview

   • Kunio Ito

   Pages 1-25

3. Earnings Attributes and Corporate Behavior

   1. Front Matter

      Pages 27-27

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   2. What Do Smoothed Earnings Tell Us About the Future?

      • Yusuke Takasu, Makoto Nakano

      Pages 29-57

   3. The Effect of Accounting Conservatism on Corporate Investment Behavior

      • Souhei Ishida, Kunio Ito

      Pages 59-80

   4. Matching Expenses with Revenues Around the World

      • Tetsuyuki Kagaya

      Pages 81-106

   5. Does Comprehensive Income Influence Dividends? Empirical Evidence from Japan

      • Kunio Ito, Takuma Kochiyama

      Pages 107-125

   6. Accounting Policy Choice for Negative Goodwill

      • Yukari Takahashi

      Pages 127-142

   7. Fair Value Accounting of Pension Liabilities and Discretionary Behavior

      • Shigeaki Sawada

      Pages 143-160

   8. The Influence of Informal Institutions on Impaired Asset Write-Offs: Securing Future and Current Pies for Payouts in Japan

      • Keishi Fujiyama

      Pages 161-186

4. Disclosure and Enforcement

   1. Front Matter

      Pages 187-187

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   2. Ex-post Information Value of Risk Disclosure

      • Kunio Ito, Tetsuyuki Kagaya, Hyonok Kim

      Pages 189-222

   3. The Effects of Risk Disclosure on Evaluation of Management Forecast Revisions

      • Hyonok Kim

      Pages 223-246

   4. The Effect of Continuous Disclosure of Environmental Report

      • Yuki Tanaka

      Pages 247-259

   5. Analyst Herding Around Management Forecasts

      • Mikiharu Noma

      Pages 261-283

   6. Management Incentives to Publish Aggressive or Conservative Earnings Forecasts and Disclosure Policy Change

      • Tomohiro Suzuki

      Pages 285-309

   7. Effects of Biased Earnings Forecasts: Comparative Study of Earnings Forecasts Disclosures by US and Japanese Firms

      • Shoichi Tsumuraya

      Pages 311-330

5. Back Matter

   Pages 331-335

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Despite the globalization of accounting standards occurring through convergence to International Financial Reporting Standards, local accounting systems are deeply intertwined with each country’s unique institutions such as its corporate system, disclosure practices and enforcement mechanisms. First, this book empirically analyzes the effects of globalization and localization of accounting rules on corporate behavior such as earnings management, signaling, investment behavior and dividend payout policy. Second, the book unravels the economic consequences of disclosure based on the concept of self-disciplining enforcement such as management forecasts, environmental disclosures and risk disclosures by Japanese firms. This volume is a step forward in understanding the link between accounting and corporate behavior based on a new institutional accounting approach.

• Accounting conservatism
• Accounting standards
• Earnings property
• Management forecast
• New institutional accounting
• Voluntary disclosure

The book provides a wealth of detail on the Japanese model of capitalism and its implications for corporate governance and accounting policy. […] Scholars and practitioners in the IFRS harmonization space will be well served by obtaining a copy of the Ito-Nakano book for their institutional libraries.

 

Karthik Ramanna, Associate Professor of Business Administration, Harvard University

In The Accounting Review, Vo.90, No.3 2015, pp.1244-1247

 

 

 

Overall, the book is valuable not only for academics but also for business practitioners and policy makers. […] The implications derived from the empirical evidence of this book may be useful to create a better system. Therefore, this book contributions to the discussion of the field of international accounting.

 

Fumiko Takeda, Associate Professor, Department of Technology Management, The University of Tokyo

In The International Journal of Accounting, Volume 50, Issue 2, June 2015, pp. 242–245

• Graduate School of Commerce and Management, Hitotsubashi University, Kunitachi, Japan

  Kunio Ito, Makoto Nakano

Editors

Kunio Ito is a professor and a director of MBA program at the Graduate School of Commerce and Management of Hitotsubashi University in Japan. He earned his Ph.D. from Hitotsubashi University. He is also the President of Japan Accounting Association (since 2012). During the last 15 years Ito has taught accounting, financial statement analysis and valuation in the school’s MBA and doctoral courses and senior executive program. He has served as outside director to several leading Japanese corporations and as advisor to the Tokyo Stock Exchange.

Makoto Nakano is a professor at the Graduate School of Commerce and Management of Hitotsubashi University in Japan, where he completed his Ph.D. in management and accounting in 1995. His research is related to financial reporting, corporate finance, corporate governance and equity valuation. Dr. Nakano has published on these subjects in Corporate Governance: An International Review (vol. 20; 2012), Applied Financial Economics (vol.23; 2013) and The Japanese Accounting Review (vol. 2; 2012). He is also the author of Reliance on Foreign Markets: Multinationality and Performance (Springer, 2013).

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