RIEBセミナー(TJAR Workshop共催) RIEB Seminar (Jointly supported by: TJAR Workshop)

日時 2012年10月13日(土)午後3時30分から
会場 神戸大学経済経営研究所 会議室(新館2階)
対象 教員、院生、および同等の知識をお持ちの方
使用言語 日本語
備考 論文のコピーは共同研究推進室にご用意いたします。

3:30pm~

報告者 武田 史子
所属 東京大学大学院工学系研究科
論題 Information Content of Internal Control Weaknesses: The Evidence from Japan
概要 This paper investigateshow capital markets in a code-law country, Japan, react to the disclosure of internal control weaknesses (ICW). The Japanese government attempted to implement a more concise, efficient, and, thus, less strict internal control reporting system than Section 404 of the US-SOX. In fact, for the first two years, the disclosure rate of ICW has been much lower in Japan than in the U.S. Our event study analysis shows that the disclosure of ICW does not generate significantly negative market reactions. However, when we focus on large firms, negative market reactions are observed even after controlling for other information released around the disclosure date, audit quality, and other firm attributes.