2006 Fiscal Year Final Research Report Summary
System Analytic Approach to Financial Technology, Management and Governance
| Project/Area Number |
16310118
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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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| Research Field |
Social systems engineering/Safety system
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| Research Institution | Waseda University (2005-2006)
Aoyama Gakuin University (2004) |
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Principal Investigator |
TAKAMORI Hiroshi Waseda University, Faculty of Commerce, Professor, 商学学術院, 教授 (30082671)
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| Co-Investigator(Kenkyū-buntansha) |
NOGUCHI Yukio Waseda University, Faculty of Commerce, Professor, 商学学術院, 教授 (90008649)
KATO Atushi Doshisha Women's College, Professor, 現代社会学部, 教授 (00329963)
ARIKAWA Yasuhiro Waseda University, Faculty of Commerce, Associate Professor, 商学学術院, 助教授 (90308156)
TSUJIMURA Motoo Ryukoku University, Faculty of Economics, Associate Professor, 経済学部, 助教授 (40335328)
YAMAGUCHI Hiroshi Komazawa Univerisity, School of Global Media Studies, Associate Professor, グローバル・メディア・スタディーズ学部, 助教授 (70433761)
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| Project Period (FY) |
2004 – 2006
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| Keywords | Financial Technology / Investment Strategy / Real Option / Risk and value / Incentive Contract / Governance / Design of Contract / Strategy for value creation |
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| Research Abstract |
This research project aimed at identifying relevant models and management principles for revitalizing Japanese industries that have been experiencing severe stagnation recently. The study began by examining those unique paradigms that drove the phenomenal development of Japanese economy after the devastation of the Second World War. We also examined how those paradigms lost their validity and vigor with the turn of 1990s. Major findings include recommendations for invigorating entrepreneurship via new types of incentive contract and renewing organizational governance in accordance with recent trends of social changes. Some focus was placed on the challenge and vigor that are driven by the incentives of equity capital. In particular, the framework of Real Option was identified as a most promising basis for driving innovation with the challenge to future risk in proper perspectives.
Under the auspices of the Grant-in-Aid, a series of "Study Meeting Opened for Public : Financial Engineering and Management" was held monthly. The active participants in the study meetings came alive with the significance of Real Option and founded the Japan Association for Real Options and Strategy at the west Waseda campus of Waseda University on July 28, 2006.
Research results are organized and published in two separate books, as follows.
1. Takamori, H., and M. Ide, Ed., "Financial Engineering as Applied to Agency Problems and Contract Designs,", Toyo-Keizai-Shimpo, 2006
2. Japan Association of Real Options and Strategy, Ed., "Real Options and Business Strategy," Sigma and Base Capital Corp., 2006
The research results are also documented in the final report of this research project.
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