edited by Yasuyoshi Kurokawa (Senshu University, Japan)

Table of Contents (54k)
Chapter 1: Accounting Problems Encountered in M&As (98k)

About the Editor

Yasuyoshi Kurokawa is Professor from the Faculty of Commerce at Senshu University, Japan. He was Treasurer (1993–1994) and Secretary (1995–1996) at the International Federation of Scholarly Associations of Management (IFSAM), and served as President (2005–2007) for the Japan-France Society of Business Association. Majoring in Financial Accounting, he obtained his BA from Meiji University, MBA from Waseda University, and his PhD from Keio University, Japan. His main publication areas include Societal Accounting in Moriyama-Shoten (1991), International Accounting Standards (edited) in Nihonkeizai-Shinbunsha (1999), Management Accounting for Non-Profit Organization (co-edited with K Nomura and T Kinosita) in Souseisha (2000), and Public Accounting (co-edited with T Ishizaki) in Chuokeizai-Sha (2009).

The design or reorganization of a corporate organization should be discussed from the perspective of the supply and demand equilibrium in the market. But it is quite difficult to balance supply and demand by relying on the price mechanism of the market. The book investigates the impact of a takeover on a management's incentives to increase reported earnings. The book also analyzes the type of effects reorganizations have on the laws and regulations, while weighing the company law, accounting standards for financial instruments, tax law, other accounting principles and international standards such as the Financial Accounting Standards Board (FASB) and International Financial Reporting System (IFRS).

Proposing a new institutional fundamentalism based on the merits of market competition, the book clarifies the features of public-to-private buyout in Japan, explaining the advantage of going-private transactions. The trend of public-to-private buyouts in Japan and the theoretical framework of public-to-private buyout deals are also dealt with in detail.

• Accounting Problems with Encountered in M&As (Y Kurokawa)
• A Study of Goodwill and Intangible Fixed Asset on Business Combination: Pharmaceutical Companies in Japan (Y Okura)
• The Method of Payment in Takeovers and Earnings Management (K Takahashi)
• Income Smoothing and the Just-in-Time System in the Japanese Automobile Industry (M Kunimura)
• M&A and Its Incentive System for the Inter-Firm Organization (Y Monden)
• The Impact of Market Inefficiency on TOB in Japan (T Yamamoto)
• A Survey of Public-to-Private Buy-Out Transactions in Japan (K Sugiura)
• Do M&As in Japan Increase Shareholder Value? (K Inoue)