Nakano, Makoto; Otsubo, Fumitaka; Takasu, Yusuke - Institute for Monetary and Economic Studies, Bank of Japan - 2014
investment levels, risk taking, and shareholder value (stock return) in Japan. The main results of the study are as follows … effect is observed. Third, analysis of the effect of conservatism on shareholder value suggests that both conditional … conservatism and unconditional conservatism improve the relationship between investment and shareholder value; in other words …