1997 Fiscal Year Final Research Report Summary
Theoretical and Empirical Study of Corporate Resource Allocation
| Project/Area Number |
07630107
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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 |
Business administration
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| Research Institution | KOBE UNIVERSITY OF COMMERCE SCHOOL OF BUSINESS AND ECONOMICS,PROFESSOR |
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Principal Investigator |
TORIBE Shinji KOBE UNIVERSITY OF COMMERCE SCHOOL OF BUSINESS AND ECONOMICS,PROFESSOR, 商経学部, 教授 (00155607)
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| Project Period (FY) |
1995 – 1997
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| Keywords | Corporate Resource Allocation System / Investment Behaviors / Investment Decision-Making Process / Management Control / Added Value / Project Evaluation Methods / Financial Goals System |
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| Research Abstract |
The results of our 3 years research project is outlined as follows :
(1)First, in order to have a clear understanding of the relationship between investment behaviors and corporate performances, a detail analysis was done based on The Japan Development Bank's financial data using the analytical software purchased in 1995. This analysis and following empirical studies were done using the computers purchased on 1995 and 1996.
(2)Here, Based on the data obtained from our questionnaire to about 1,000 public listed companies in 1995, we were able to understand the characteristics of corporate resource allocation system and problems facing companies in our country. We even reviewed many foreign journals in order to understand the essence of the investment decision-making problems under the organizational theory.
(3)Next, based on the date of above questionnaire, we managed to examine the relationships between organizational variables (i.e.investment planning attributes, decision making process, and management styles) and valuation styles. In addition, we managed to empirically show which valuation style is most commonly applied under different investment environments.
(4)We also focused on the issues of corporate governance and we examined the possibility of including shareholders' perspective in the formation of new financial goals or valuation standards. As a result, we suggested the possibility of new financial goals system using "added value". In addition, using the financial data in our country, we examined the appropriateness of this standard in terms of its practicability.
(5)Finally, based on the above results, we presented pur findings in a book.
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