| Project/Area Number |
18H00874
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Review Section |
Basic Section 07060:Money and finance-related
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| Research Institution | Chuo University (2019-2020)
Fukuoka University (2018) |
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Principal Investigator |
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| Co-Investigator(Kenkyū-buntansha) |
山崎 尚志 神戸大学, 経営学研究科, 教授 (30403223)
柳瀬 典由 慶應義塾大学, 商学部(三田), 教授 (50366168)
中村 恒 一橋大学, 大学院経営管理研究科, 教授 (80418649)
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| Project Period (FY) |
2018-04-01 – 2021-03-31
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| Project Status |
Completed (Fiscal Year 2020)
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| Budget Amount *help |
¥17,290,000 (Direct Cost: ¥13,300,000、Indirect Cost: ¥3,990,000)
Fiscal Year 2020: ¥4,420,000 (Direct Cost: ¥3,400,000、Indirect Cost: ¥1,020,000)
Fiscal Year 2019: ¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2018: ¥8,710,000 (Direct Cost: ¥6,700,000、Indirect Cost: ¥2,010,000)
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| Keywords | 巨大災害（CAT） / リスクファイナンス / 保険 / デリバティブ / 官民の役割分担 |
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| Outline of Final Research Achievements |
This study systematically organized the risk financing on catastrophes (CAT) and clarified the issues in each segment with the division of the demand-side (firms or households) and supply-side (private or public sector) of risk financing methods. First, the study discussed the differences in the efficiency of risk financing methods to analyze in terms of macro-economic perspective theoretically. Second, the study generalized the classical Cram'er--Lundberg model for the ruin probability of an insurer and proved that it could be lowered to the same probability as the case of known risk through premium setting. Third, this study empirically analyzed the earthquake insurance for households and suggested that the purchase behavior to CAT insurance was affected by the experience of CAT event and the revision of the insurance system.
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| Academic Significance and Societal Importance of the Research Achievements |
巨大災害による経済損失が世界中で増大し公的財政が圧迫されている中，災害リスクファイナンスにおける官民の役割分担の議論は未解決・喫緊の「問い」であり，社会的意義は大きい。官民の役割分担を論じる前提として，企業・家計によるリスクファイナンス手法の選択行動の理論的・実証的な解明は重要な論点である。本研究では，保険とデリバティブという企業のリスクファイナンス手法間の本質的な相違を理論的に示すとともに，巨大災害と家計の保険加入行動の関係を実証的に解明した。また，需要主体の視点のみならず，リスクファイナンス手法の代表的供給主体である保険会社の健全性についても理論的に考察しており，学術的意義も大きい。
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