| Project/Area Number |
17K03820
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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 |
Money/ Finance
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| Research Institution | Waseda University |
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Principal Investigator |
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| Project Period (FY) |
2017-04-01 – 2023-03-31
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| Project Status |
Completed (Fiscal Year 2022)
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| Budget Amount *help |
¥2,600,000 (Direct Cost: ¥2,000,000、Indirect Cost: ¥600,000)
Fiscal Year 2019: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2018: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2017: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
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| Keywords | コーポレートガバナンス / パフォーマンス / ステークホルダー / グローバル企業 / 経営理念 / 資本市場の効率性 / 株価 / 資産価格 |
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| Outline of Final Research Achievements |
This study shows that a modern corporation’s purpose, behavior, and performance differ from country to country. For example, some countries consider the corporation's role to be "maximizing shareholder profits," while others consider it to be "maximizing the profits and satisfaction of several stakeholders." Therefore, corporate performance differs from country to country as well. It also indicates that these country-specific corporate differences stem from country-specific institutional factors (e.g., laws, national culture, etc.) that reflect the history and society of each country. Furthermore, the study suggests that we need multiple dimensions of corporate performance measures, including not only shareholder interest measures but also other stakeholders' welfare measures and the corporate longevity measures.
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| Academic Significance and Societal Importance of the Research Achievements |
本研究の結果は、現代の資本主義社会において企業が多様化しており、企業の役割を単に「株主の利益を最大化する存在」としては捉えられないことを示している。そして、企業に期待される役割は国ごとに異なっており、それはその国の歴史・社会・法律・文化等を反映したものである。また、国によって企業に期待される役割が異なれば、当然企業のパフォーマンスも国によって変わってくる。このことは、現代の企業を「株価」や「利益」等で評価することに疑問を投げかけるものである。
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