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

Michio Kunimura
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Michio Kunimura: Department of Business and Management, Meijo University, Japan

Chapter 4 in M&A for Value Creation in Japan, 2009, pp 53-65 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe 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

Keywords: M&A for Value Creation; Business Combination; Hostile Takeover; Corporate Governance; Target Firms; Merger and Acquisition; Earnings Management (search for similar items in EconPapers)
JEL-codes: G34 (search for similar items in EconPapers)
Date: 2009
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