International Perspectives on Accounting and Corporate by Kunio Ito, Makoto Nakano

By Kunio Ito, Makoto Nakano

Despite the globalization of accounting criteria happening via convergence to foreign monetary Reporting criteria, neighborhood accounting structures are deeply intertwined with every one country’s particular associations resembling its company process, disclosure practices and enforcement mechanisms. First, this ebook empirically analyzes the consequences of globalization and localization of accounting ideas on company habit resembling gains administration, signaling, funding habit and dividend payout coverage. moment, the ebook unravels the industrial results of disclosure in line with the concept that of self-disciplining enforcement akin to administration forecasts, environmental disclosures and chance disclosures via jap enterprises. This quantity is a leap forward in knowing the hyperlink among accounting and company habit in keeping with a brand new institutional accounting approach.

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These variables are ranked in ascending order within its industry-year and divided by the number of observations in each industry-year. 14 Moreover, to control other year effects, we include year dummies in the model. In this study, all t-statistics and z-statistics are corrected for heteroskedasticity, and cross-sectional and time-series dependence using a two-way cluster at the firm and year level proposed by Petersen (2009) and Cameron et al. 3 Sample The empirical analysis is based on Japanese non-financial firms over the 1990–2010 period.

The results, however, remain unchanged even when we use alternative models, in particular Jones (1991) model and Dechow et al. (1995) model to calculate discretionary accruals. 38 Y. Takasu and M. Nakano however, we could not include other items such as gains/losses from the sale of fixed assets. Furthermore, in our sample, over 50 % of firm-years report that the gain/loss on the sale of marketable securities in extraordinary items is zero. This might imply that there is a low possibility that a firm’s sale of marketable securities is affected by the trend of the same industry-year firms.

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