When companies are unlikely to achieve an earnings benchmark, it is said that managers are likely to do earnings management by cutting discretionary expenditure during an accounting period to achieve the benchmark. This paper focuses on the earnings forecasts issued by managers as a proxy for the earnings benchmark and examines a hypothesis that managers under pressure to attain the earnings benchmark reduce the discretionary expenditure during an accounting period to achieve it. Focusing on the R&D expenditure as typical discretionary expenditure, this paper provides empirical evidence that, only when the proportion of a R&D budget is over 5% of sales, managers who are faced with the pressure to attain the earnings benchmark are likely to cut the R&D expenditure.

In this paper I analyze whether or not it applies to the Japanese firms that the corporate management tend to adopt takeover defense measures for self-protection. First, I investigate the characteristics of firms that adopted takeover defense measures in fiscal years 2006 and 2008. Second, I analyze the evaluation of the stock market for firms adopting takeover defense measures in fiscal years 2008.

As a result, I clarify that in Japanese firms it cannot be seen to support the hypothesis of self-protection from above two experimental studies. And it is newly pointed out that in Japan firms which were positive to investor relation tended to adopt takeover defense measures. And it is pointed out that investors in the Japanese stock market do not think firms adopting takeover defense measures as a negative activity. These analyses are peculiarly Japanese features that we cannot confirm in previous studies abroad.

The purpose of this study is to investigate the effects of management control systems on product innovation by mail survey. Some prior studies have discussed about the relationship between management control systems and product innovation. But these studies have not assumed various type of management control or product innovation. So, this paper explores what kinds of management control create two different type of product innovation; radical innovation, incremental innovation. This study revealed that the radical innovation is created by beliefs systems, and the incremental innovation is created by beliefs systems and interactive control systems. The study also revealed the emerging companies have succeeded to create both radical and incremental innovation than other companies.

When explaining a relationship among BSC, strategy, and organization, some studies insist on the superiority of the relation with strategy, other studies insist on the superiority of the relation with organization. The purpose of this study is to integrally explain two relations through a moderator. The study is based on survey data collected from health-care staff in two large health-care organizations. The results of survey reveal that the influence over the relation from autonomy to learning consciousness is stronger than the influence over the relations from learning consciousness to financial consciousness and patient consciousness, if interactive control system relatively strongly works. On the other hand, the influence over the relations from learning consciousness to financial consciousness and patient consciousness is stronger than the influence over the relation from autonomy to learning consciousness, if diagnostic control system relatively strongly works.

The purpose of this article is to investigate managements which improve brand positions and effects which brands provide to companies. To this end, I carried out research on brand management by sending questionnaires to 3,803 Japanese companies listed in Tokyo Stock Exchange Market to new companies' Markets. There were 317 replies. I analyzed CB (Corporate Brand) and PB (Product Brand) respectively by testing if the population averages of high CB position companies and those of low CB position companies are significant. Regarding the management which improves the brand position, 15 out of the 16 items investigated are significant to the CB position, and 10 out of the 16 items are significant to the PB position. Quality improvement is said to be important for the brand position, but it is not significant statistically for the PB position, meaning that the quality improvement is a necessary condition, but not a sufficient condition. Regarding the effects of brand, all of the 10 items are significant for both the CB and PB positions