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A REEXAMINATION OF THE CONTROL ORGAN IN CORPORATIONSBASED ON PRINCIPAL-AGENT-THEORY

Research Project

Project/Area Number 04451112
Research Category

Grant-in-Aid for General Scientific Research (B)

Allocation TypeSingle-year Grants
Research Field 商学・経営学
Research InstitutionGAKUSHUIN UNIVERSITY

Principal Investigator

KOYAMA Akihiro  GAKUSHUIN UNIVERSITY,FACULTY OF ECONOMICS PROFESSOR, 経済学部, 教授 (50146320)

Co-Investigator(Kenkyū-buntansha) UEDA Yutaka  MEIJI UNIVERSITY,FACULTY OF COMMERCE ASSOCIATE-PROFESSOR, 商学部, 助教授 (70201952)
Project Period (FY) 1992 – 1993
Project Status Completed (Fiscal Year 1993)
Budget Amount *help
¥2,700,000 (Direct Cost: ¥2,700,000)
Fiscal Year 1993: ¥700,000 (Direct Cost: ¥700,000)
Fiscal Year 1992: ¥2,000,000 (Direct Cost: ¥2,000,000)
KeywordsAgency Cost / Corporate Governance / Aufsichtsrat / Corporate Groupings / Unternehmens-verfassung / Co-determination / Mainbank / Monitoring System / 裁量的経営主義 / 経営参加 / エージェンシー理論 / モニタリング / 銀行支配 / 企業資本主義 / 経営者支配 / 企業集団
Research Abstract

In the modem theory of Management, it is widely known that the role of the Top Management in Japan is not to represent the profit of shareholders but to protect the profit of the firm itself, without sharing it to the shareholders, as a matter of fact.We reconsider this theme from the historical viewpoint of management and based on the principal-agent-theory. It is very valuable to analyze this problem in comparison to the dispute on this theme in Germany, as the controversy on the structure of Top Management is one of the most important topics in the field of management theory in Germany. In the first section, we make a briefoverview of the mathematical handling of the problem based on the principal-agent-theory. Then we make an economic analysis of the Top Management organisation of German corporations. As a result of the analysis, it turned out to be clear that the structure of Top Management organisation (Spitzenorganisation) should be changed so that they might be effectively monitored by the stake-holders of the corporation. In Japan, it is also well known that big banks such as Mitsubishi, Sumitomo play a important role to monitor the corporations in the corporate groupings as the 'main bank'. Nowadays, it is said that the role of banks in the corporate groupings is not so important as before the breakdown of 'bubble economics'. But we believe that they must be still a good and effective organ which monitors the corporations and especially the top management. They must play this role, as the capital markets of both countries are not very competitive and we must try further, to find and to design the optimal structure of the Top Management organisation.

Report

(3 results)
  • 1993 Annual Research Report   Final Research Report Summary
  • 1992 Annual Research Report
  • Research Products

    (17 results)

All Other

All Publications (17 results)

  • [Publications] 小山明宏(ハラルド・ドレスと共同): "日独企業の比較分析のために(2)-「金融系列」の再検討(2)-" 学習院大学経済論集. 30. 181-194 (1993)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1993 Final Research Report Summary
  • [Publications] 小山明宏: "ドイツにおける「エージェンシーコスト論争」の展開とその意義" 学習院大学経済論集. 29. 249-261 (1993)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1993 Final Research Report Summary
  • [Publications] 小山明宏(ハラルド・ドレスと共同): "日独企業の比較分析のために(1)-「金融系列」の再検討(1)-" 学習院大学経済論集. 29. 113-126 (1992)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1993 Final Research Report Summary
  • [Publications] 小山明宏: "ドイツにおける実証的経営学研究の動向とその貢献-エージェンシー理論による実証的分析を中心として-" 現代ドイツ経営学研究(森山書店). 第3章. (1993)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1993 Final Research Report Summary
  • [Publications] Akihoro Koyama(Hendel,A.Fischer,C.と共同): "Die Bedeutung von Joint Vent Ventures fur den Eintritt in den japanischen Markt unter besonderer Berucksichtigung der deutschen klein und mitteistandischen Unternenmen" Bericht der Wirtschaftsabteilung der deutschen Botschaft,Tokio. (1992)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1993 Final Research Report Summary
  • [Publications] A.KOYAMA & H.DOLLES: "A COMPARATIVE ANALYSIS OF JAPANESE AND GERMAN COMPANIES (II)" GAKUSHUIN ECONOMIC PAPERS. VOL.30. 181-194 (1993)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1993 Final Research Report Summary
  • [Publications] A.KOYAMA: "ON THE 'AGENCY-COST CONTROVERSY' IN GERMANY" GAKUSHUIN ECONOMIC PAPERS. VOL.29. 249-261 (1993)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1993 Final Research Report Summary
  • [Publications] A.KOYAMA & H.DOLLES: "A COMPARATIVE ANALYSIS OF JAPANESE AND GERMAN COMPANIES (I)" GAKUSHUIN ECONOMIC PAPERS. VOL.29. 113-126 (1992)

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1993 Final Research Report Summary
  • [Publications] A.KOYAMA: ON THE EVOLUTION OF EMPIRICAL STUDIES OF MANAGEMENT IN GERMANY,IN : MODERN MANAGEMENT THEORY IN GERMANY,CHAPTER 3.MORIYAMA-SHOTEN, 1993

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1993 Final Research Report Summary
  • [Publications] A.KOYAMA A.HENDEL & C.FISCHER: DIE BEDEUTUNG VON JOINT VENTURES FUR DEN EINTRITT IN DEN JAPANISCHEN MARKT UNTER BESONDERER BERUCKSICHTIGUNG DER DEUTSCHEN KLEIN-UND MITTELSTANDISCHEN UNTERNEHMEN. BERICHT DER WIRTSCHAFTSABTEILUNG DER DEUTSCHEN BOTSCHAFT TOKIO, 1992

    • Description
      「研究成果報告書概要(欧文)」より
    • Related Report
      1993 Final Research Report Summary
  • [Publications] 小山明宏: "日独企業の比較分析のために(2)-「金融系列」の基本的再検討(2)-" 学習院大学経済論集. 30. 423-438 (1994)

    • Related Report
      1993 Annual Research Report
  • [Publications] 小山明宏: "ドイツにおける実証的経営学研究の動向とその貢献-エージェンシー理論による実証的分析を中心として-" 現在ドイツ経営学研究. 41-55 (1994)

    • Related Report
      1993 Annual Research Report
  • [Publications] 小山 明宏 ハラルド・ドレス: "日独企業の比較分析のために(1) ー「金融系列」の基本的再検討ー" 学習院大学経済論集. 29. 113-126 (1992)

    • Related Report
      1992 Annual Research Report
  • [Publications] 上田 泰: "集団意思決定プロセス序説 ー研究概観と企業内集団への含意" 明大商学論叢. 75. 29-53 (1992)

    • Related Report
      1992 Annual Research Report
  • [Publications] Akihiro Koyama,Andreas Hendel,Carsten Fischer,: "Die Bedeutung von Joint Ventures fur den Eintritt in den japanischen Markt unter besonderer Berucksichtigung der deutschen Klein und mittelstandischen Unternenmen" Bericht der Wirtschaftsabteilung der deutschen Botschaft. 1-39 (1992)

    • Related Report
      1992 Annual Research Report
  • [Publications] 小山 明宏,ハラルド ドレス: "日独企業の比較分析のために(2) ー「金融系列」の基本的再検討(2)ー" 学習院大学経済論集. 30. (1993)

    • Related Report
      1992 Annual Research Report
  • [Publications] 小山 明宏: "ドイツにおける実証的経営学研究の動向とその貢献 ーエージェンシー理論による実証的分析を中心としてー" ドイツ経営学研究70年. (1993)

    • Related Report
      1992 Annual Research Report

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Published: 1992-04-01   Modified: 2016-04-21  

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