M & A for value creation in Japan / [edited by] Yasuyoshi Kurokawa.

Format:

Book

Contributor:

Kurokawa, Yasuyoshi.

Monden Institute of Management and Accounting.

Series:

Monden Institute of Management and Accounting (Series) ; v. 6.

Monden Institute of Management: Japanese management and international studies, 1793-2874 ; v. 6

Language:

English

Subjects (All):

Consolidation and merger of corporations--Japan.

Consolidation and merger of corporations.

Corporations--Valuation--Japan.

Corporations.

Physical Description:

1 online resource (152 p.)

Edition:

1st ed.

Other Title:

M and A for value creation in Japan

M&A for value creation in Japan

Place of Publication:

Singapore ; Hackensack, NJ : World Scientific, c2010.

Language Note:

English

Summary:

The design or reorganization of a corporate organization should be discussed from the perspective of the supply and demand equilibrium in the market. But it is quite difficult to balance supply and demand by relying on the price mechanism of the market. The book investigates the impact of a takeover on a management's incentives to increase reported earnings. The book also analyzes the type of effects reorganizations have on the laws and regulations, while weighing the company law, accounting standards for financial instruments, tax law, other accounting principles and international standards

Contents:

Contents; Japan Society of Organization and Accounting; Editorial Board; List of Contributors; 1. Accounting Problems Encountered in M&As Yasuyoshi Kurokawa; 1 Introduction; 2 The Present Conditions of M&A Accounting in Japan: Stepping toward International Harmonization; 3 The Revision of the Accounting Standards for Business Combinations: Toward Convergence; 3.1 M&A accounting standards (established in 2003, enforced in 2006); 3.2 Revised M&A accounting standards (established in 2009, will be enforced in 2010); 4 Reexamination of Governance Based on Stockholder Dominance; 5 Conclusion

References2. A Study of Goodwill and Intangible Fixed Asset on Business Combination: Pharmaceutical Companies in Japan Yujiro Okura; 1 Prior Studies Concerning the Reasonability of the Adoption of the Free Cash Flow Method; 2 Corporate Evaluation of Business Combination Accounting and PPA; 3 Revaluation in the Case of Share Transfer of Daiichi Sankyo Company Limited; 4 Verification of Reasonability of Accounting for Goodwill; 5 Details of R&D Expenditures and Revaluation of Intangible Assets; 5.1 M&A and motive for innovation; 5.2 Examination of reasonability of appropriation

6 In-Process R&D Expenses6.1 What are in-process R&D expenses?; 6.2 M&A of Eisai Co. Ltd. and Takeda Pharmaceutical Co. Ltd.; 6.3 Direction of in-process R&D expenses; 7 Conclusion; Notes; References; 3. The Method of Payment in Takeovers and Earnings Management Kunimaru Takahashi; 1 Introduction; 2 Earnings Management and Takeovers; 3 Research Design and Sample Selection; 3.1 Measurement of earnings management; 3.2 Sample; 4 Results; 4.1 Descriptive statistics; 4.2 Abnormal accruals for acquiring firms around the agreed-on exchange ratio of the merger

4.3 Abnormal accruals for target firms around the agreed-on exchange ratio of the merger5 Conclusion; References; 4. Income Smoothing and the Just-in-Time System in the Japanese Automobile Industry Michio Kunimura; 1 Potential Inventory Manipulation; 2 Discretionary Models and Hypotheses; 2.1 Discretionary accruals: the modified DJmodel; 2.2 Discretionary day's inventory; 3 Assumptions and Hypotheses; 3.1 Assumptions; 3.2 Hypothesis 1: discretionary accruals (DA/S); 3.2.1 Null hypothesis 1; 3.3 Hypothesis 2: discretionary day's inventory change (DINV/S or DINV/C); 3.3.1 Null hypothesis 2

4 Data and Day's Inventory4.1 Data; 4.2 Day's inventory: descriptive statistics; 5 Results; 5.1 Comparison of the positive CFO Group with the negative CFO Group in the discretionary accruals; 5.2 Comparison of the positive CFO Group with the negative CFO Group in the discretionary day's inventory change based on sales; 5.3 Comparison of a positive CFO Group with a negative CFO Group in the discretionary day's inventory change based on cost of goods sold; 6 Conclusion; Acknowledgment; References; 5. M&A and Its Incentive System for the Inter-Firm Organization Yasuhiro Monden

1 Research Purpose

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

ISBN:

9786612761522

9781282761520

1282761528

9789814287470

9814287474

OCLC:

670429013