| Project/Area Number |
19530227
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Applied economics
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| Research Institution | Kwansei Gakuin University |
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Principal Investigator |
SHINKAI Tetsuya Kwansei Gakuin University, 経済学部, 教授 (40206313)
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| Co-Investigator(Kenkyū-buntansha) |
OKAMURA Makoto 広島大学, 大学院・社会科学研究科, 教授 (30177084)
OHKAWA Takao 立命館大学, 経済学部, 教授 (10258494)
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| Project Period (FY) |
2007 – 2009
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| Project Status |
Completed (Fiscal Year 2009)
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| Budget Amount *help |
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2009: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2008: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2007: ¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
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| Keywords | 企業統治 / 企業組織 / 戦略的企業行動 / 寡占市場均衡 / 経済厚生 / 資本構成 / 借入価値最大化企業 / 株主価値最大化企業 / Cournot複占 / 部分完全均衡 / 異なる企業統治をもつ企業 / Cournot複占市場 / 積極的借入調達 / 市場リスク / 技術・生産リスク / 寡占市場モデル / 事業資金調達 |
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| Research Abstract |
In this study, we consider a la Cournot models in which oligopolistic firms with various objectives and modes of corporate governance competes. We explore how the difference of the objectives and modes of corporate governance of firms affects the strategic behavior of firms and the outcomes and welfare in the equilibrium. In particular, we analyze a la Cournot oligopoly which is composed of firms with a certain type of objective and modes of corporate finance, that is, equity value maximizer (EVM) firms or debt value maximizer (DVM) firms, sales maximize (SM) firms under limited liability and profit maxmizer (PMND) firms with no debt, and also consider a la Cournot oligopoly which is composed of firms with various distinct types of those. By comparing these equilibria, we obtain some insights on properties and welfare equilibrium outcomes.
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