The effect of the quarterly disclosure system on Japanese firms
Abstract
Research leader:
Yukinori, FUJIHARA, Professor, Osaka University of Economics and Law
Research outline:
A revision of the quarterly disclosure system, aimed at encouraging short-term profit orientation, is an important part of Japan’s “New Capitalism” policy. The Financial System Council announced its intention to unify the quarterly disclosure system with the financial statements, and is planning to compile concrete items to be revised within this year. Such a revision necessitates thorough discussions based on sufficient empirical evidence, as well as weighing the pros and cons of abolishing mandatory disclosure. We conduct an empirical analysis using data on Japanese listed companies, and we provide evidence on the impact of the revision of the quarterly disclosure system.
関連論文
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Typhoon No. 21 influence on the Kansai economy
Insight
Insight » Trend Watch
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ABSTRACT
Typhoon No. 21 has caused severe damage to the Kansai region. Kansai International Airport (KIX) has suffered from unforeseen flooding of Runway A (Terminal 1 side) and Apron, a tanker colliding into the airport access bridge, etc. It is necessary to show respect to those working hard day and night in order to speed up the reopening process of the airport.
The Kansai economy is benefitting from 2 types of export: the so-called service export of inbound tourism (inbound consumption is classified as service export in statistics), and the export of electronic components and devices, both of which go through the KIX, which is an arterial infrastructure of the Kansai and the Japanese economy.
Even a 1-day early recovery will help to keep these benefits. Considering all the caused damage, it still remains unknown as to when the airport will function as per usual again. Currently, it is crucial to gather all the information about what effect the damage will have on the Kansai economy and how important it is to reopen the early at full scale.