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Income Smoothing and the Just-in-Time System in the Japanese Automobile Industry

In: M&A For Value Creation In Japan

Author

Listed:
  • Michio Kunimura

    (Department of Business and Management, Meijo University, Japan)

Abstract

The following sections are included:Potential Inventory ManipulationDiscretionary Models and HypothesesDiscretionary accruals: the modified DJ modelDiscretionary day's inventoryAssumptions and HypothesesAssumptionsHypothesis 1: discretionary accruals (DA/S)Null hypothesis 1Hypothesis 2: discretionary day's inventory change (DΔINV/S or DΔINV/C)Null hypothesis 2Data and Day's InventoryDataDay's inventory: descriptive statisticsResultsComparison of the positive ΔCFO Group with the negative ΔCFO Group in the discretionary accrualsComparison of the positive ΔCFO Group with the negative ΔCFO Group in the discretionary day's inventory change based on salesComparison of a positive ΔCFO Group with a negative ΔCFO Group in the discretionary day's inventory change based on cost of goods soldConclusionAcknowledgmentReferences

Suggested Citation

  • Michio Kunimura, 2009. "Income Smoothing and the Just-in-Time System in the Japanese Automobile Industry," World Scientific Book Chapters, in: Yasuyoshi Kurokawa (ed.), M&A For Value Creation In Japan, chapter 4, pages 53-65, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814287470_0004
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    More about this item

    Keywords

    M&A for Value Creation; Business Combination; Hostile Takeover; Corporate Governance; Target Firms; Merger and Acquisition; Earnings Management;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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