Firm's nonprofit-maximizing objectives and competition structure

2023 Fiscal Year Final Research Report

• Project/Area Number: 21K01398
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Review Section: Basic Section 07010:Economic theory-related
• Research Institution: The University of Tokyo
• Principal Investigator: Matsumura Toshihiro 東京大学, 社会科学研究所, 教授 (70263324)
• Project Period (FY): 2021-04-01 – 2024-03-31
• Keywords: 非利潤最大化行動 / 自主規制 / 企業の社会的責任 / 混合寡占 / 気候変動 / 環境政策 / common ownership / ECSR

Outline of Final Research Achievements

In the context of nonprofit-maximizing behaivior, we examine how common ownership affects emission levels when firms can use environmental CSR as a strategic commitment device. Specifically, we investigate how common ownership affects firms' voluntary commitment to emission restrictions and emissions abatement activities in an oligopoly. We show that common ownership reduces emissions by reducing output and may stimulate emissions abatement activities if the degree of common ownership is small. However, significant common ownership always reduces emissions abatement activities. We also examine effects of common ownership on fuel green transformation and find that common ownership hinders the green equilibrium where all firms commit to green fuel. These studies were published in Energy Economics.
We published 9 other papers (i.e., 11 papers including above two papers) discussing common ownership, mixed oligopolies and so on in SSCI international refereed journals for three years.

Free Research Field

産業組織

Academic Significance and Societal Importance of the Research Achievements

通常利潤を最大化すると仮定される企業行動に関して、寡占市場における企業の様々な非利潤最大化行動の帰結や戦略的な相互依存関係を明らかにし、産業組織の分野での研究の幅を広げる成果を上げた。
特に取り上げたcommon onwershipは、競争政策の観点から近年関心を集めている。common onwershipに関して、新たな社会的な利益、損失を明らかにし、競争・産業政策上の多くの政策的含意を導いた。更に社会の最重要問題の一つである気候変動に関連し、企業の自主的環境政策を取り上げ、競争政策、環境政策の両面で多くの政策的含意を導いた。また産業組織と環境経済学の架け橋となる研究成果を発表した。