Elucidation of mechanism of firm behavior in stochastic models
| Project/Area Number |
17K01254
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Social systems engineering/Safety system
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| Research Institution | Osaka University |
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Principal Investigator |
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| Project Period (FY) |
2017-04-01 – 2020-03-31
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| Project Status |
Completed (Fiscal Year 2019)
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| Budget Amount *help |
¥4,550,000 (Direct Cost: ¥3,500,000、Indirect Cost: ¥1,050,000)
Fiscal Year 2019: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2018: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2017: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
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| Keywords | ファイナンス / 金融工学 / コーポレートファイナンス |
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| Outline of Final Research Achievements |
In this research project, I have developed the stochastic and dynamic models of firm behavior in the three stages, namely, venture, expansion, and contraction stages and analyzed them mathematically. In this approach, I have elucidated many theoretical mechanisms, which were not shown in previous researches. For instance, I have revealed the effects of asymmetric information on the asset sale and bankruptcy process, as well as the effects of technology, market, and competition uncertainty on the research and development process. I have presented these results at many international and domestic conferences and published nine papers in peer-reviewed international journals. These papers have been judged to be important results and greatly impact the research area, and then, they have been published in high-quality and prominent journals.
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| Academic Significance and Societal Importance of the Research Achievements |
企業の実物投資・資金調達行動等の理論に関して、以前は静学的なモデルで分析されてきたが、近年では動学的な確率モデルによる分析が主流になりつつある。本研究で行った動学的な確率モデルによる企業活動の理論の研究は、近年の経済・金融分野の最先端の研究テーマの一つであり、学術的意義が非常に大きい。実際、多くの研究成果が、国際的にレベルの高い著名なジャーナルに掲載された。また、現代社会は、急速に変化し、将来の不確実性も増している。このような変化に対応する企業のダイナミックな行動に関する理論メカニズムを明らかにすることは、社会的意義も大きい。
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Report
(4 results)
Research Products
(39 results)
