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Hitotsubashi journal of commerce and management最新文献

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POLICY ISSUES ASSOCIATED WITH ROAD CAPACITY OPTIMIZATION THROUGH SOCIAL MARGINAL COST CHARGING 通过社会边际成本收费优化道路容量的相关政策问题
Hitotsubashi journal of commerce and management Pub Date : 2011-10-01 DOI: 10.15057/19447
Yuki Misui, T. Nemoto
{"title":"POLICY ISSUES ASSOCIATED WITH ROAD CAPACITY OPTIMIZATION THROUGH SOCIAL MARGINAL COST CHARGING","authors":"Yuki Misui, T. Nemoto","doi":"10.15057/19447","DOIUrl":"https://doi.org/10.15057/19447","url":null,"abstract":"Economic theories demonstrate that when roads are congested, the social optimal traffic volume for addressing road capacity can be achieved through social marginal cost charging. Moreover, basedon the study by Mohring (1976), in the neutral economies of scale, optimization of roadcapacity can, theoretically, be achievedby appropriating the excess revenue derived from social marginal cost charging to additional investment in road capacity. To apply this approach to actual roadinvestment, however, we needto address the issues that impede the shift to optimal road capacity. In this study, we enhancedthe simulation analysis conductedin Misui andNemoto (2010, 2011), andevaluatedthe SMC charging through the examination of the relationship between the roadcapacity of the network andthe traffic environment roadusers faced. As a result, we pointedout three policy issues: (1) modification of SMC charges considering public acceptance, (2) feasibility of the optimal roadcapacity under cost-benefit criterion, and(3) long-term relationship between the urban structure andthe roadnetwork.","PeriodicalId":154016,"journal":{"name":"Hitotsubashi journal of commerce and management","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122084075","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
MULTIMARKET CONTACT AND MARKET POWER: A CASE OF THE U.S. AIRLINE INDUSTRY 多市场联系与市场力量:以美国航空业为例
Hitotsubashi journal of commerce and management Pub Date : 2011-10-01 DOI: 10.15057/19449
H. Murakami, Ryota Asahi
{"title":"MULTIMARKET CONTACT AND MARKET POWER: A CASE OF THE U.S. AIRLINE INDUSTRY","authors":"H. Murakami, Ryota Asahi","doi":"10.15057/19449","DOIUrl":"https://doi.org/10.15057/19449","url":null,"abstract":"Many researchers have empirically shown that multimarket contact has had a collusive effect in the U.S. airline industry. This paper empirically analyzes the effect of multimarket contact on air carriers. pricing behaviors and the impact of market power on multimarket contact. We estimated the simultaneous demand and price (pseudo-supply) equations to derive the impacts of multimarket contact by using cross-sectional data of the year 2006 (top 30 U.S. air markets with 4484 sample observations) . We found that multimarket contact increases airfare and that if there are only full-service carriers (FSCs) in a market, the effect of multimarket contact among FSCs is enforced by their preferrence for collusion. However, if there are low-cost carriers (LCCs) in a market, the effect of multimarket contact is not enforced. We also found that in a market where LCCs have dominant market shares, multimarket contact does not necessarily result in carriers. collusive behavior. These results suggest that multimarket contact affects market performances differently depending on whether an LCC exists.","PeriodicalId":154016,"journal":{"name":"Hitotsubashi journal of commerce and management","volume":"102 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114227648","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
Types Of Intra-Organizational Networks And Upward Strategic Communication 组织内网络类型与向上战略沟通
Hitotsubashi journal of commerce and management Pub Date : 2011-10-01 DOI: 10.15057/19446
Toshihiko Kato, T. Numagami, Masaru Karube
{"title":"Types Of Intra-Organizational Networks And Upward Strategic Communication","authors":"Toshihiko Kato, T. Numagami, Masaru Karube","doi":"10.15057/19446","DOIUrl":"https://doi.org/10.15057/19446","url":null,"abstract":"This paper explores the relationships between intra-organizational networks and information flows using survey research from 137 business units of established Japanese firms. We focus specifically on the upward flow of strategic information from the middle and operational levels, and mainly examine the relationships between intra-organizational networks and upward information flow. The results reveal that an increase in the number of superiors who must be persuaded of an initiative.s merits is highly detrimental to strategic information flow within an organization, whereas support from superiors tends to increase information flow. Based on these results, we contend that the state of intra-organizational networks, especially those involving superiors, is a key factor in activating emergent strategies in a business organization.","PeriodicalId":154016,"journal":{"name":"Hitotsubashi journal of commerce and management","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121907892","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
PRESENTATION OF RETIREMENT BENEFITS EXPENSE AND EARNINGS ATTRIBUTES: EVIDENCE FROM JAPAN 退休福利、费用和收入属性的表述:来自日本的证据
Hitotsubashi journal of commerce and management Pub Date : 2011-10-01 DOI: 10.15057/19445
Tetsuyuki Kagaya
{"title":"PRESENTATION OF RETIREMENT BENEFITS EXPENSE AND EARNINGS ATTRIBUTES: EVIDENCE FROM JAPAN","authors":"Tetsuyuki Kagaya","doi":"10.15057/19445","DOIUrl":"https://doi.org/10.15057/19445","url":null,"abstract":"This research examines how the amendment of retirement benefits accounting affects earnings attributes and corporate management of Japanese companies. The results show that the existing net income before taxes is more persistent, predictable, smoothed, and value relevant, while that the approach 1 income that recommended by the International Accounting Standards Boards (IASB) is more timely. I suppose that the earnings attributes of persistency, predictability, and smoothness are suitable for the Japanese corporate system. This research suggests that Japanese companies possibly shift the organization-oriented corporate system to the market-oriented corporate system, if the ASB of Japan (ASBJ) adopt the presentation of the approach 1 income that is recommended by the IASB (2008). So they may have severe impacts on their corporate system or employment system because they will make it difficult to maintain the long-termrelationship between other stakeholders, which is the source of competitiveness.","PeriodicalId":154016,"journal":{"name":"Hitotsubashi journal of commerce and management","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121500254","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
EFFICIENCY PERFORMANCE OF JAPANESE NON-LIFE INSURERS AND THEIR PORTFOLIO OF INSURANCE POLICIES 日本非寿险保险公司的效率绩效及其保单组合
Hitotsubashi journal of commerce and management Pub Date : 2011-10-01 DOI: 10.15057/19448
H. Miyashita, Takau Yoneyama, Yoshihiko Suzawa, Yaofen Tseng
{"title":"EFFICIENCY PERFORMANCE OF JAPANESE NON-LIFE INSURERS AND THEIR PORTFOLIO OF INSURANCE POLICIES","authors":"H. Miyashita, Takau Yoneyama, Yoshihiko Suzawa, Yaofen Tseng","doi":"10.15057/19448","DOIUrl":"https://doi.org/10.15057/19448","url":null,"abstract":"This studytests how the selection of the insurance underwriting portfolio affects the cost efficiencyof non-life insurers in different market environments. Our investigation spans the 1970-2005 period, covers ten major non-life insurers, and compares pre- and post-deregulation periods. Since portfolio considerations are essential for non-life insurers in making managerial decisions, this studyattempts to clarifythe relationship between insurer efficiencyperformance and their business portfolio. We employan ordered probabilitymodel where the dependent variable is the ranking number of insurer efficiencyderived from a fixed-effect model. Our results reveal that the efficiencyof insurers deteriorates as theydecrease their diversification. This indicates that non-life insurers can successfullyimprove their efficiencybydiversify ing their insurance policyportfolio. The contribution of market share expansion to efficiency performance differs among the various lines of insurance and regulatoryenvironments. Insurers with higher shares in the automobile insurance market tend to be more efficient than those with lower shares. In contrast, increasing the market share in fire insurance maydeteriorate insurer efficiencyin the competitive marketplace after deregulation. Market share expansion of personal accident insurance contributes to efficiencyonlyin the post-deregulation period.","PeriodicalId":154016,"journal":{"name":"Hitotsubashi journal of commerce and management","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130926913","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
BEYOND PRODUCT LIFECYCLE AND FLYING GEESE: INTERNATIONAL COMPETITIVENESS OF EAST ASIAN REGION AND THE JAPANESE POSITION WITHIN 超越产品生命周期与大雁:东亚地区的国际竞争力与日本在东亚地区的地位
Hitotsubashi journal of commerce and management Pub Date : 2011-09-01 DOI: 10.15057/19450
T. Kikkawa
{"title":"BEYOND PRODUCT LIFECYCLE AND FLYING GEESE: INTERNATIONAL COMPETITIVENESS OF EAST ASIAN REGION AND THE JAPANESE POSITION WITHIN","authors":"T. Kikkawa","doi":"10.15057/19450","DOIUrl":"https://doi.org/10.15057/19450","url":null,"abstract":"","PeriodicalId":154016,"journal":{"name":"Hitotsubashi journal of commerce and management","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131697251","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Value Investing and Financial Statement Analysis 价值投资与财务报表分析
Hitotsubashi journal of commerce and management Pub Date : 2010-10-01 DOI: 10.15057/18701
Mikiharu Noma
{"title":"Value Investing and Financial Statement Analysis","authors":"Mikiharu Noma","doi":"10.15057/18701","DOIUrl":"https://doi.org/10.15057/18701","url":null,"abstract":"This study investigates whether a simple accounting-based fundamental analysis can outperform the market. In this study, I use a fundamental signal (F_SCORE) to discriminate between eventual winners and losers. F_SCORE is based on a combination of traditional fundamentals such as ROA, cash flow from operations, and operating margin. I demonstrate that the mean return can be increased by at least 7.8% through hedging strategy that buys high F_SCORE firms and that shorts low F_SCORE firms. In particular, an investment strategy that buys high book-to-market (BM) firms with high F_SCORE and shorts low BM firms with low F_SCORE earns a 17.6% annual return. In other words the results are robust across a variety of partitions including size, share price, and trading volume. This study reveals that F_SCORE can predict future earnings. Further, empirical results do not support a risk-based explanation for the investment strategy. Overall, the results of the present study suggest that life cycle hypothesis advocated by Lee and Swaminathan[2000] holds true.","PeriodicalId":154016,"journal":{"name":"Hitotsubashi journal of commerce and management","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115658428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
Entrepreneurial Way to Cool the Earth 用创业的方式给地球降温
Hitotsubashi journal of commerce and management Pub Date : 2010-10-01 DOI: 10.15057/18699
T. Kikkawa
{"title":"Entrepreneurial Way to Cool the Earth","authors":"T. Kikkawa","doi":"10.15057/18699","DOIUrl":"https://doi.org/10.15057/18699","url":null,"abstract":"","PeriodicalId":154016,"journal":{"name":"Hitotsubashi journal of commerce and management","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124361974","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
The great kanto earthquake and the response of insurance companies : a historical lesson on the impact of a major disaster 关东大地震与保险公司的反应:重大灾难影响的历史教训
Hitotsubashi journal of commerce and management Pub Date : 2009-10-01 DOI: 10.15057/17770
Takau Yoneyama
{"title":"The great kanto earthquake and the response of insurance companies : a historical lesson on the impact of a major disaster","authors":"Takau Yoneyama","doi":"10.15057/17770","DOIUrl":"https://doi.org/10.15057/17770","url":null,"abstract":"","PeriodicalId":154016,"journal":{"name":"Hitotsubashi journal of commerce and management","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121989351","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Blind pursuit of strategic goals : an examination of middle managers' strategic orientations in Japanese firms 战略目标的盲目追求:日本企业中层管理者战略取向研究
Hitotsubashi journal of commerce and management Pub Date : 2009-10-01 DOI: 10.15057/17771
Masaru Karube, Toshihiko Kato
{"title":"Blind pursuit of strategic goals : an examination of middle managers' strategic orientations in Japanese firms","authors":"Masaru Karube, Toshihiko Kato","doi":"10.15057/17771","DOIUrl":"https://doi.org/10.15057/17771","url":null,"abstract":"This paper reports the symptoms of strategic problems through examining the current status of business strategies in Japanese firms. Based on data collected through a questionnaire survey in 2006 from 128 business units in 16 Japanese firms, this paper examines the relationships between business strategies pursued by middle managers and their performance. The empirical results suggest that middle managers blindly pursue less effective business strategies (e.g., pursuit of scale economies, market share, and excessive product differentiation) even in the face of environmental change - from the market growth stage to the maturity stage in the late 1990s and thereafter. Finally, this paper proposes some managerial implications for their recovery from dysfunction of business strategy.","PeriodicalId":154016,"journal":{"name":"Hitotsubashi journal of commerce and management","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123640378","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
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