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Corporate governance and transparency in Japan

Research output: Working paper

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Corporate governance and transparency in Japan. / Aman, Hiroyuki; Beekes, Wendy Anne; Brown, Philip Ronald.
2016.

Research output: Working paper

Harvard

Aman, H, Beekes, WA & Brown, PR 2016 'Corporate governance and transparency in Japan'.

APA

Aman, H., Beekes, W. A., & Brown, P. R. (2016). Corporate governance and transparency in Japan.

Vancouver

Aman H, Beekes WA, Brown PR. Corporate governance and transparency in Japan. 2016 Dec 7.

Author

Aman, Hiroyuki ; Beekes, Wendy Anne ; Brown, Philip Ronald. / Corporate governance and transparency in Japan. 2016.

Bibtex

@techreport{35477e3ca6954de29a6d5f199f43a7f1,
title = "Corporate governance and transparency in Japan",
abstract = "Corporate governance (CG) reformists typically presume better-governed companies are more transparent to investors. We focus on CG and transparency in Japan, where CG has been an ongoing issue. Using local ratings of Japanese companies{\textquoteright} CG, and data on corporate disclosures and their associated stock returns, we do find better-governed Japanese companies have made more frequent and timelier disclosures, and that their share prices have reflected value-relevant information earlier. While these results hold for good news, they do not hold for bad. Consequently, governance guidance in Japan may not have resulted in both timelier and more balanced release of newsworthy information.",
author = "Hiroyuki Aman and Beekes, {Wendy Anne} and Brown, {Philip Ronald}",
year = "2016",
month = dec,
day = "7",
language = "English",
type = "WorkingPaper",

}

RIS

TY - UNPB

T1 - Corporate governance and transparency in Japan

AU - Aman, Hiroyuki

AU - Beekes, Wendy Anne

AU - Brown, Philip Ronald

PY - 2016/12/7

Y1 - 2016/12/7

N2 - Corporate governance (CG) reformists typically presume better-governed companies are more transparent to investors. We focus on CG and transparency in Japan, where CG has been an ongoing issue. Using local ratings of Japanese companies’ CG, and data on corporate disclosures and their associated stock returns, we do find better-governed Japanese companies have made more frequent and timelier disclosures, and that their share prices have reflected value-relevant information earlier. While these results hold for good news, they do not hold for bad. Consequently, governance guidance in Japan may not have resulted in both timelier and more balanced release of newsworthy information.

AB - Corporate governance (CG) reformists typically presume better-governed companies are more transparent to investors. We focus on CG and transparency in Japan, where CG has been an ongoing issue. Using local ratings of Japanese companies’ CG, and data on corporate disclosures and their associated stock returns, we do find better-governed Japanese companies have made more frequent and timelier disclosures, and that their share prices have reflected value-relevant information earlier. While these results hold for good news, they do not hold for bad. Consequently, governance guidance in Japan may not have resulted in both timelier and more balanced release of newsworthy information.

M3 - Working paper

BT - Corporate governance and transparency in Japan

ER -