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タイトル: | Herd Behavior in Accounting Policies : Write-off policy of UPBO in Japan |
著者: | Tokuga, Yoshihiro Miyauchi, Toshitake |
著者名の別形: | 徳賀, 芳弘 |
発行日: | Mar-2011 |
出版者: | 京都大学大学院経済学研究科 |
引用: | Yoshihiro Tokuga, Toshitake Miyauchi. Herd Behavior in Accounting Policies -Write-off policy of UPBO in Japan.京都大学大学院経済学研究科Working Paper. 2011-05, 121 |
誌名: | 京都大学大学院経済学研究科Working Paper |
号: | 121 |
抄録: | This paper investigates rationality of herd behavior in the accounting policy decisions by using a write-off policy of unfunded pension benefit obligation (UPBO) as a research material. Although the accounting standard for retirement benefits in Japan in 2000 allowed the companies to choose the write-off period between one year and fifteen years depending on their write-off abilities, more than 60% of the companies disclosed the period within 3 years, especially one year before the balance sheet date. There might have been herd behavior in policy selections with the companies that currently reported poor income and nonetheless chose a short period of write-off policy. We found that many of these companies did not unreasonably write–off UPBO and that the capital market saw through whether their write-off policies were concomitant with their capabilities or not. If a market is efficient and participants are aware of it, accounting regulator’s policy for giving the companies the room for choice does not cause an irrational herd behavior in accounting policy. |
URI: | http://hdl.handle.net/2433/141778 |
出現コレクション: | Working Paper (外国語論文) |
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