本研究の目的は，企業による戦略的情報開示の実態を調査し，それが資本市場に与える影響を広く検証することである．近年，企業と投資家との建設的な対話を促進するため，わが国のディスクロージャー制度を巡り改革が進められている．いくつかある論点のうち，本研究は決算短信による情報開示のタイミングに着目し，４つの研究課題に取り組む．そのうち，２０２１年度は企業の情報開示タイミングに関するアーカイバル研究を実施実施した（調書の研究課題④）．
研究成果についてはワーキングペーパーにまとめ，２０２２年度の学術誌掲載を目指している．本ワーキングペーパーの要旨は以下のとおりである．
「証券取引所の取組みや政府主導のディスクロージャー制度改革のもと、日本企業には決算発表タイミングの早期化が要求されてきた。しかしながら、海外の先行研究によれば、決算発表タイミングに関して固有の戦略を有して行動する企業が一定割合いることが報告されている。本研究は日本企業の決算発表タイミングを対象に、(1)複数の指標（日数や曜日など）から企業のディスクロージャー戦略の有無やパターンを識別特定し、(2)企業が戦略パターンを変更する場合には決算発表タイミングがどのように変化するのかを実態分析した。決算発表タイミングの長短を日数だけでなく、複数の戦略パターンから識別特定しようとする本稿の試みは将来、早期化に対する市場反応を検証する際、さらには早期化と簡素化、情報の質、正確性といった各要素との間で生じるトレードオフの問題を検証する際に、重要な基礎を与えるものであると考える。」

I tried to establish the accounting research method by combining the conclusions of examination about each of normative research and empirical research. Specifically, I summarized a unified research method of accounting that transcends the normative theory and the empirical theory. In the process, I examined each point so that it became clear that there was a major deficiencies in existing research. Some of the research results have been published in academic journals and journals.

We extensively investigated various issues of evaluating firm value based on accounting information. We then obtained many valuable results about (i) whether accounting-based firm valuation has actual usefulness in the context of highly efficient stock markets, (ii) whether one accounting-based firm valuation has more advantages than other valuation models, and (iii) what are characteristics of financial/capital cost data necessary as inputs of firm valuation models and how to predict them in the future periods.

The purpose of this study is to perform comparison of the net income and comprehensive income as a performance measure from a viewpoint of a predictive value. This study focuses on comprehensive income that the IASB and FASB are going to introduce through their'Reporting Financial Performance Project,'net income, and their difference that is often called'Other Comprehensive Income.'This study compares these two income numbers from the perspective that aims at estimating firms' intrinsic values.
In performing simulations, I used the predictive ability of each performance measure as the measure of the usefulness. In order to compare the predictive ability of net income and comprehensive income, the future cash flow of the company was generated at random, and I compared the prediction ability of net income and comprehensive income calculated from there. Next, in order to compare net income, comprehensive income, and the pseudo net income that does not include recycle, financial assets were introduced into the above-mentioned model, and it was verified whether the usefulness of predictive ability would be influenced by the existence of recycling.
The result showed that it was the easiest to predict net income about future performance prediction. This result means that the usefulness of net income is higher than others for an investor. That is, it became obvious from a viewpoint of investment decision-making usefulness to abolish net income which International Accounting Standards Board asserts, and to display comprehensive income(and false net income) is unjustifiable.

In Japan, auditors have mentioned in their audit report the financially distressed condition if the client's company loses its ability as a going concern. It is said that the default company generally has been in a financially distressed condition before bankrupt and that the auditor is required to investigate such condition and management plan to resolve the financially distressed condition. This type of investigation is generally called Going Concern Audit or Financially Distressed Company Audit. Japanese Audit Standard has adopted an indirect reporting system of Going Concern Audit but the auditors must evaluate the ability of the client company as a going concern. Our research is oriented to the evaluation process of the auditors.
The objectives of our research are following.
1.We reported the state of audit of the ability of the client company as a going concern in Japan.
2.We made an scrutiny check on a linear disriminat model. Altman Model is very famous and we checked some other models
3.We proposed two new models, one is a proportional Hazard Model and the other is Artificial Intelligence Model
We have made presentations at the annual meeting both domestic association and foreign association, Japan Accounting Association, American Accounting Association, and Asia Pacific Conference on International Accounting Issues. We are planning to publish our research in the near future

This study aims at identifying the appropriate approach to measure the brand values that arises from geographical identification (hereafter GI).  This study was motivated by the introduction of GI by the Japanese government in 2015.  This study demonstrates the foundation for evaluating the potential economic benefit of GI through the measurement of its brand value.  The foundation can be used to help evaluate the effectiveness of GI policy in Japan in the near future.  The extant literature on the value of GI is restricted to the analyses of price premium.  While the price premium is certainly an important component of brand value and hence corporate value, the cost of generating and maintaining the GI has not been considered so far.The key issue is that it is not sufficient to measure the price premium and volume increase due to GI.  One must also estimate the cost incurred to maintain GI, which could be significant.