Souhei Ishida
Associate Professor
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About
Souhei Ishida is an Associate Professor at Hitotsubashi University in Japan. His research primarily focuses on budgetary participation, management forecasting ability, and the implications of corporate governance reforms. Recent publications include studies on top managers' earnings forecasts and the predictive ability of dividend changes for future earnings. His work contributes valuable insights into earnings management and the role of institutional shareholder services in Japan.
Articles (8)
Institutional shareholder services' proxy voting guidelines and ROE management
We examine the impact of the Institutional Shareholder Services (ISS) proxy voting guidelines on managers' opportunistic reporting behaviours. In February 2015, the ISS introduced a new advisory policy based on firms' return on equity (ROE) and started to issue negative recommendations for top executive election in firms whose past average and most recent ROE are lower than 5%. We find that managers are more likely to achieve the 5% ROE after implementing the policy, and they do so by discretionary activities. Our findings imply that accounting‐based guidelines issued by a proxy voting advisor can generate managers' incentives for opportunistic reporting.
Year:
2023
Collaborators (2)
Takuma Kochiyama
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Katsushi Suzuki
Professor
Hitotsubashi University
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