Empirical Studies about the Information Properties and the Economic Effect of the Mid-term Management Plan

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The purpose of this research is to consider unsolved problems regarding the disclosure of the mid-term management plan information in Japanese firms. As key results of the research, firstly, I clarified actual situation about the disclosure of the mid-term management plan information in Japanese firms. Secondly, I documented the characteristics of the firms to report externally their mid-term management plan information. Thirdly, I documented an information effect by the disclosure of the mid -term management plan information. And lastly, I examined the relationship between financial targets accomplishment of the mid-term management plan and the accounting policy choice.