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An Empirical Study on Corporate Risk Management - Integration of Corporate Finance and Insurance Science

Research Project

Project/Area Number 16K03752
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Research Field Money/ Finance
Research InstitutionKeio University (2019-2020)
Tokyo University of Science (2017-2018)
Tokyo Keizai University (2016)

Principal Investigator

Noriyoshi Yanase  慶應義塾大学, 商学部(三田), 教授 (50366168)

Project Period (FY) 2016-04-01 – 2021-03-31
Project Status Completed (Fiscal Year 2020)
Budget Amount *help
¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000)
Fiscal Year 2019: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2018: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2017: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Keywords保険論 / 企業金融 / デリバティブ / リスクマネジメント / 企業価値 / メインバンク / リスクファイナンス / ERM / コーポレートガバナンス / 保険 / コーポレートファイナンス / 金融・ファイナンス
Outline of Final Research Achievements

This study constructed a panel data set using financial and market data, empirically examined Japanese companies' risk hedging strategies, and I published the results in a refereed foreign academic journal. In addition, as a survey of the actual situation regarding company-wide risk management, I continued to hold regular study meetings with corporate risk managers. I published the results as specific case studies in domestic academic journals. Also, I organized academic research trends on corporate risk management worldwide. Finally, I published a textbook on risk management and insurance covering the relevant research fields to bridge the gap between corporate finance and traditional insurance science.

Academic Significance and Societal Importance of the Research Achievements

近年高い関心を集める日本企業のリスクマネジメントという現象に対して、理論的な枠組みをベースに、日本企業に特徴的な資金調達環境を考慮し、多面的な実証研究を行うことで、その実態を定量的に把握することは,社会的意義が大きい。また,ファイナンス理論に基づいた企業リスクマネジメント研究を体系的に整理しつつ、具体的な研究成果を蓄積することによって、わが国の保険論研究にも一石を投じることができた。本研究の全体的成果は、個々の研究成果にとどまらない、ファイナンス理論と保険論の融合に関する研究分野全体に対しても、重要な学術的貢献があると考えられる。

Report

(6 results)
  • 2020 Annual Research Report   Final Research Report ( PDF )
  • 2019 Research-status Report
  • 2018 Research-status Report
  • 2017 Research-status Report
  • 2016 Research-status Report
  • Research Products

    (10 results)

All 2021 2019 2018 2017 2016 Other

All Int'l Joint Research (4 results) Journal Article (2 results) (of which Int'l Joint Research: 1 results,  Peer Reviewed: 1 results) Presentation (2 results) (of which Int'l Joint Research: 2 results) Book (1 results) Remarks (1 results)

  • [Int'l Joint Research] Portland State University/University of Rhode Island(米国)

    • Related Report
      2019 Research-status Report
  • [Int'l Joint Research] Portland State University(米国)

    • Related Report
      2018 Research-status Report
  • [Int'l Joint Research] Portland State University(米国)

    • Related Report
      2017 Research-status Report
  • [Int'l Joint Research] Portland State University(米国)

    • Related Report
      2016 Research-status Report
  • [Journal Article] 三菱重工の保険リスクマネジメント改革について2021

    • Author(s)
      柳瀬典由
    • Journal Title

      損害保険研究

      Volume: 82 (4) Pages: 139-160

    • NAID

      40022496933

    • Related Report
      2020 Annual Research Report
  • [Journal Article] Bank Equity Ownership and Corporate Hedging: Evidence from Japan2019

    • Author(s)
      Piman Limpaphayom, Daniel Rodgers, Noriyoshi Yanase
    • Journal Title

      Journal of Corporate Finance

      Volume: 58 Pages: 765-783

    • DOI

      10.1016/j.jcorpfin.2019.07.001

    • Related Report
      2019 Research-status Report
    • Peer Reviewed / Int'l Joint Research
  • [Presentation] Bank Equity Ownership and Corporate Hedging: Evidence from Japan2017

    • Author(s)
      Noriyoshi Yanase
    • Organizer
      World Finance & Banking Symposium 2017
    • Related Report
      2017 Research-status Report
    • Int'l Joint Research
  • [Presentation] Bank Equity Ownership and Corporate Hedging: Evidence from Japan2016

    • Author(s)
      Rodgers, Daniel
    • Organizer
      Financial Management Association
    • Place of Presentation
      Las Vegas, Nevada, USA
    • Year and Date
      2016-10-22
    • Related Report
      2016 Research-status Report
    • Int'l Joint Research
  • [Book] リスクマネジメント2018

    • Author(s)
      柳瀬 典由、石坂 元一、山﨑 尚志
    • Total Pages
      260
    • Publisher
      中央経済社
    • ISBN
      9784502256912
    • Related Report
      2017 Research-status Report
  • [Remarks] 慶應義塾研究者情報データベース

    • URL

      https://k-ris.keio.ac.jp/html/100014886_ja.html?k=%E6%9F%B3%E7%80%AC

    • Related Report
      2019 Research-status Report

URL: 

Published: 2016-04-21   Modified: 2022-02-21  

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