メインバンク-企業関係と会計政策

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The main purpose of this researchprovides the strategic accounting policy choice under the Main Bank system. Most of Japanese large firms have closely connection with Main Bank. Main Bank is generally the largest loan share among lenders to the firm and provider to various services to the firm. Under the system, what kind of portfolio will Japanese firms select about accounting policy? To test above questions, eight hypotheses are specified. These hypotheses are designed on the level of commitment of Main Bank to firm.Unfortunately, the results of this research are not consistent with eight hypotheses. However, I found that firms committed by Main Bank are selecting the liberal portfolio of accountiong policy. So I called this policy choice the Commitment effect. Given that the existence of the commitment effect, I think that the control system by Main Bank has two implications. One is that this system gives the discretion of management based long-term perspective to the existing management teams. Such a supports are important and useful when managers intend dynamic changes in management style. The other is that this system doesn't require tough management to the effect that the needs of rapidly restrucharing about financial structure. Anyway, deep analyzes about commitment effect are a significant subject.