The Information Content of Corporate Pension Funding Status in Japan

Shingo Goto, Noriyoshi Yanase

研究成果: Article査読

4 被引用数 (Scopus)

抄録

This paper tests if a firm's pension funding ratio (pension assets/PBO) reveals the management's private information about the firm's operation when the firm can exercise discretion in pension funding. The lax enforcement of pension funding rules and the prevalence of management forecasts make Japanese firms an ideal testing ground. We show that, among firms with large business uncertainty, large accruals, or high effective tax rates, the pension funding ratio predicts the firm's management forecast errors significantly beyond conventional control variable and the effects of pension accounting management. However, the stock market does not appear to incorporate this information immediately.

本文言語English
ページ(範囲)903-949
ページ数47
ジャーナルJournal of Business Finance and Accounting
43
7-8
DOI
出版ステータスPublished - 2016 7 1
外部発表はい

ASJC Scopus subject areas

  • Accounting
  • Business, Management and Accounting (miscellaneous)
  • Finance

フィンガープリント 「The Information Content of Corporate Pension Funding Status in Japan」の研究トピックを掘り下げます。これらがまとまってユニークなフィンガープリントを構成します。

引用スタイル