持股对会计质量与贸易信贷之间关系的影响:来自日本的证据

IF 0.9 Q3 BUSINESS, FINANCE
M. Enomoto
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引用次数: 0

摘要

本研究探讨了交叉持股和稳定持股对日本会计质量与贸易信贷之间关系的影响。作为一种私人信息共享制度,交叉持股和稳定持股是日本公司治理的著名特征。研究结果表明,没有交叉持股或稳定持股的客户的贸易信贷会随着会计质量的提高而增加,而且在大多数情况下,这种持股会削弱会计质量与贸易信贷之间的关系。这些研究结果表明,与交叉持股和稳定持股股东的紧密联系会通过共享私人信息降低会计信息的重要性。这些发现将加深人们对所有权结构潜在影响的理解。总之,本研究通过证明会计质量在融资中的作用以及降低这种作用的因素,为相关文献做出了贡献。此外,本研究还强调了监管措施对解除交叉持股的政策影响,因为交叉持股可能会影响私人信息共享。数据可用性:数据可从文本中指明的来源获取。JEL 分类:G34;M41。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Effects of Shareholdings on the Relationship between Accounting Quality and Trade Credit: Evidence from Japan
This study investigates the effects of cross- and stable shareholdings on the relationship between accounting quality and trade credit in Japan. Cross- and stable shareholdings are well-known features of Japanese corporate governance, as a private information-sharing system. The results indicate that the trade credit of customers without either cross- or stable shareholdings increases with accounting quality, and in most cases, such shareholdings weaken the relationship between accounting quality and trade credit. These findings suggest that close ties to cross- and stable shareholders reduce the importance of accounting information through sharing private information. The findings will enhance the understanding of ownership structure’s potential impact. Overall, this study contributes to the literature by demonstrating the role of accounting quality in financing and the factors that reduce this role. In addition, this study highlights policy implications for the regulatory initiatives to unwind cross-shareholdings, which may affect private information sharing. Data Availability: Data are available from sources indicated in the text. JEL Classifications: G34; M41.
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来源期刊
CiteScore
1.40
自引率
16.70%
发文量
19
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