We investigate the economic consequences of both conditional conservatism and unconditional conservatism from the perspective of stock market investors. Specifically, we empirically analyze how these two types of conservatism affect corporate investment levels, risk taking, and shareholder value...

In this paper, we consider the problems associated with the development and management of an educational program for manufacturing managers in leadership roles who are making contributions towards the creation of customer delight as well as customer satisfaction using manufacturing technology....

Foreign investors have in recent years increased their ownership of Japanese firms. Has this greater involvement contributed to improve firm performance? We show that the answer depends on the assumptions regarding the unobservable firm effects. If the latter are assumed to be time invariant, as...

Evidence based on US firms suggests that large boards restrain risk taking. We investigate whether a similar effect exists in Japan. Our results confirm that firms with larger boards exhibit lower performance variability relative to firms with smaller boards. However, this effect is less...