1 Overview (Kunio Ito). Part 1 Earnings Attributes and Corporate Behavior -- 2 What do Smoothed Earnings Tell Us about the Future? (Yusuke Takasu and Makoto Nakano) -- 3 The Effect of Accounting Conservatism on Corporate Investment Behavior (Souhei Ishida and Kunio Ito) -- 4 Matching expenses...

We examine whether firm compliance with the corporate governance reforms is associated with enhanced effectiveness of corporate governance in practice. Past literature has cast doubts on the efficacy of the “one-size-fits-all” approach and pointed out the possibility of in-form compliance,...