著者
大橋 照枝 Terue Ohashi
出版者
麗澤大学経済学会
雑誌
麗澤経済研究 = Reitaku International Journal of Economic Studies (ISSN:09196706)
巻号頁・発行日
vol.17, no.2, pp.19-49, 2009-09-30

Sustainable welfare indicator HSM (Human Satisfaction Measure) including Triple bottom line (Society, Environment and Economy) was proposed by Ohashi in 2000 and developed from Ver. 1, Ver. 2-(1), Ver. 2-(2), Ver. 3-(1), Ver. 3-(2), Ver. 4, Ver. 5 with help of Dr. Hong Nguyen and Professor Nobuyuki Kimata.For the further development of HSM, Ohashi tried to introduce weighting research of 6 categories (Labor, Health, Education, Gender, Environment and Income) using AHP (Analytic Hierarchy Process ) Method, conducted in Japan ( 2007 ), and Sweden ( 2008 ), named "Questionnaire on Ideal Society PartI".In the questionnaire Ohashi included one open-ended question " What is your Ideal Society?".Using the text mining software named True Teller of Nomura Research Institute, analyzing the open-ended answers of both countries to "words mapping", Ohashi found the interesting results. The keywords mutually found in both countries are " environmental consciousness" and "stability of life". The keywords appeared only in Japan is "no social gap" and only in Sweden "democracy", "equality" and "education".Democracy was considered as key factor of social sustainability from 19th century in Sweden.HSM is composed by triple bottom line : Society, environment and economy, as indispensable factor for social sustainability.But democracy is also important as healthy society.So, Ohashi conducted the research named "Questionnaire on Ideal Society Part II" in Sweden and Japan in May 2009.In the research , Ohashi included one open-ended question, "What kinds of aspects of Sweden do you like most?" in Swedish research, and "What kinds of aspects of Japan do you like most" in Japanese questionnaire.Analyzing the answer using True Teller as word mapping, the keywords appeared in both countries are quite different.In Sweden, "Democracy", "Freedom of speech" and "Equality" are the keywords of most favorite aspects of their country. In Japan, "Nature", "Environment", "The national character","Peace", and "Culture" are the aspects Japanese like most about their country.Swedish respondents love the foundation of country people depend upon, but Japanese love the aspect of software of their country and they don't aware the foundation through which they can enjoy peace, culture and so on.In Sweden, Social Democratic Party is established in 1889 as the first political party and it was the main party governing most of the political history and contributed forming the democratic and welfare society of Sweden.Japan, on the other hand, got democracy after the defeat of World War II with the help of GHQ (General Headquarters). Thus, Japanese have almost no history to endeavor to make democracy by their own.So there is some delay in democratic thinking in Japan comparing with Sweden, and it makes unhappy phenomena in Japanese society.Such findings Ohashi got the results of this research.Through the research, Ohashi concludes that in order to increase the HSM value of Japan,the key is to raise the consciousness of democracy in Japan.
著者
清水 千弘 Chihiro Shimizu
出版者
麗澤経済研究
雑誌
麗澤経済研究 = Reitaku International Journal of Economic Studies (ISSN:09196706)
巻号頁・発行日
vol.21, no.1, pp.33-50, 2013-03-10

While fluctuations in commercial property prices have an enormous impact on economic systems, the development of related statistics that can capture these fluctuations is one of the areas that is lagging the furthest behind. The reasons for this are that, in comparison to housing, commercial property has a high level of heterogeneity and there are extremely significant data limitations. Focusing on the Tokyo office market, this study estimated commercial property price indexes using the data available in the property market, and clarified discrepancies in commercial property price indexes based on differences in the method used to create them. Specifically, we estimated a quality-adjusted price index with the hedonic price method using property appraisal prices and transaction prices available for the JREIT market. In addition, we attempted to estimate a price index based on a present value model using revenues arising from property and discount rates. Here, along with the discount rates underlying the determination of property appraisal prices and transaction prices, we obtained discount rates using enterprise values that can be acquired from the J-REIT investment market, and estimated the respective risk premiums. First, the findings showed that, compared to risk premiums formed by the stock market, risk premiums when determining property appraisal prices change only relatively gradually, with the adjustment speed being especially slow while the market is contracting. As a result, these prices decline only slowly. They also showed that until the Lehman Shock, property market risk premiums formed by the stock market were at a lower level than risk premiums set when determining property appraisal prices and transaction prices, but following the Lehman Shock, the respective risk premiums converged toward the same level.
著者
大橋 照枝
出版者
麗澤大学
雑誌
麗澤経済研究 (ISSN:09196706)
巻号頁・発行日
vol.19, no.1, pp.29-53, 2011-03-10

I The defects of GDP GDP:Gross Domestic Product adds as economic effects the expense of retrieval of environmental damage,traffic or auto accidents or even the cost of family breakdown which are inconsistent the welfare and happiness of people. On the contrary the women's housekeeping work that's indispensable for people's welfare but no payment is not counted to GDP.So,GDP was criticized by many people for the long time.First criticizer of GDP was Simon Kuznets(1901-1985).He was himself the developer of GNP:Gross National Product.In 1930s the Commerce Department of USA asked a young economist Mr.Simon Kuznets,to develop a uniform set of national accounts.He developed GNP in1932.Thse became the prototype for what we now call the GDP.But Kuznets knew well GNP is not the indicator of welfare.So he reported to Congress in 1934 and warned that GNP is not the indicator of welfare.In 1960s to 1970s, many people (politician, philosopher,sociologist and social reformer) criticized GDP. They are R.F.Kennedy(1968),Baudrillard(1970),Daniel Bell (1973),Hazel Henderson(1978),and Ralph Nader(1978)and so on. II Beyond GDP Recently,the movement of Beyond GDP occurred.And the Beyond GDP conference was held in 19&20 November 2007 in Brussels,organized by the European Commission,European Parliament,Club of Rome,OECD and WWF.They discussed the defects of GDP,but contents remained unchanged as the discussion in 60es and 70es. In 2008,French president Nicolas Sarkozy organized Commission on the Measurement of Economic Performance and Social Progress(CMEPSP).CMEPSP was chaired by Professor Joseph E. Stiglitz,Columbia University,Professor Amartya Sen,Harvard University. Chair Adviser,and Professor Jean-Paul Fitoussi,Institut d' Etudes Politiques de Paris.Coodinator.And 21 other famous Economists in the world were the members.The report of CMEPSP was published in September 2009,But. it was not a single metric indicator taking the place of GDP. Stiglitz preferred a Dashboard more than a Single Metric. III Indicators Complementing and modifying GDP I)MEW:Measures of Economic Welfare Nordhaus,W.and Tobin,J.,1972, "Is Growth Obsolete?",Economic Growth,National Bureau of Economic Reserch,pp.1-80 II)NNW:Net National Welfare Keizaishingikai NNW Kaihatsuiinkai,1973, "Atarashii Fukushishihyo NNW",Japan. III)ISEW/GPI:Index of Sustainable Economic Welfare/Genuine Progress Indicator ・Herman E. Daly and John B. Cobb, Jr,1989,1994,for the common good,Beacon Press.・Redefining Progress,1999 ,the Genuine Progress Indecator.IV)SEEA :Handbook of National Accounting:Integlated System of Environmental and Economic Accounting United Nations 2004,Handbook of National Accounting :Integrated Environmental and Economic Accounting,2003,Final draft Circulated for Information Prior to Official Editing V)HDI:Human Development Index Published every year from 1990 by UNDP. VI)HPI:Happy Planet Index Published by the New Economics Foundation U.K.,in 2006,2009. VII)HSM:Human Satisfaction Measure Terue Ohashi,2010,Democracy as the Indicator of Sustainability-From the research of "Questionnaire on Ideal Society Part2"in Japan and Sweden-,Reitaku International Journal of Economic Studies Vol.18,No.1,March 2010,pp.9-33 IV Conclusion Almost all indicators,complementing GDP do not deny the presence of GDP,even the Stigritz report.
著者
目黒 昭一郎
出版者
麗澤大学
雑誌
麗澤経済研究 (ISSN:09196706)
巻号頁・発行日
vol.19, no.1, pp.56-71, 2011-03-10

Health care field is one of the focused fields in Japanese economy because of the potential opportunities to develop new businesses based on rapidly advancing information and communication technologies(ICT) in Japan.In this article,the author demonstrated how large industrial organization embedded the health care business, which was far different from the existing businesses,in a broad-based and highly systemic way by presenting the strategic concept which conceptually made up of three nested layers-market space,business space and organizational space-.To challenge these business developments,the author presents key agenda,and also describes the basic thoughts and methods,which are common across almost all the new business development,based on more than twenty years frontline experience in operating and managing health care businesses.
著者
中島 真志
出版者
麗澤大学
雑誌
麗澤経済研究 (ISSN:09196706)
巻号頁・発行日
vol.15, no.2, pp.97-112, 2007-09

The year of 2007 will be remembered as the beginning of the second development stage of electronic money (e-money) in Japan. This is because of the introduction of three new e-money, namely PASMO, nanaco and WAON, in addition to the two prevailing e-money of Edy and Suica. In this paper, the definition and characteristics of e-money are discussed in Section 1. The most important point is the judgment that e-money is not a new type of money but a new type of payment instrument. In Section 2, the similarities and differences between Edy and Suica are examined in order to clarify the structures and features of e-money in Japan. Edy is managed by bitWallet Inc. and Suica is issued by East Japan Railway Company. Both e-money are issued by private companies, use the same contactless IC technology of FeliCa, set the upper limit of charge, and adopt Closed Loop scheme. Some differences are pointed out, including traffic-oriented card vs. multi-purpose card and three-cornered model vs. four-cornered model. These discussions are followed by the introduction of three new e-money in Section 3. PASMO is issued by private railway and bus companies and has total interoperability with Suica. WAON and nanaco are issued by major retailer, AEON and Seven & I Holdings, respectively. In Section 4, the background of the development and spread of e-money in Japan is discussed. Several factors such as the wide usage of cash settlement, and the underdeveloped stage of Debit Card are indicated. As the last part of this paper, the future developments of e-money in Japan are discussed, which include the change of e-money media from the card to the mobile phone, the move to standardize e-money terminal, the usage of both prepaid e-money and postpaid credit service on the same mobile phone, and the growing recognition on the economic merit of e-money. With these tendencies, it is predicted that the e-money will be used much more widely in Japan in the future.
著者
花枝 美恵子
出版者
麗澤大学
雑誌
麗澤経済研究 (ISSN:09196706)
巻号頁・発行日
vol.7, no.1, pp.45-61, 1999-03

The question of what is the appropriate way of rewarding shareholders has gained widespread public attention in both Japan and Germany in recent years. Against this background of growing attention, the Japanese and German business and academic communities are addressing themselves to matters of responsiveness to shareholders. While much emphasis is thereby placed on how to change traditional practices in rewarding share-holders, less emphasis is placed on the fundamental question of why both Japanese and German MNEs should change their traditional practices. The aim of this study is to figure out the reasons that necessitate such changes in corporate attitudes among globally focused Japanese and German MNEs. The paper proceeds in the following way: Chapter 1 outlines the main features of responses to shareholders commonly practiced by Japanese and German MNEs vis-a-vis their American counterparts and concludes that there are two basic rewarding models: a unichannel-oriented model and a multichannel-oriented model. It then, explains to what extent the differences observed are claimed to be a result of significant differences in institutional factors (e.g. importance of main bank system, formal and informal network of long-term relationships among the stakeholders, common in both Japanese and German industries). Chapter 2 explores the relations between the ways of rewarding shareholders described above and the internationalization of the MNEs' businesses. Examining the dynamism embedded in the MNEs' international businesses, the paper tries to evaluate a growing importance of the interfirm collaboration for MNEs on one hand, and their increasing exposure to global institutional investors on the other. Referring to the former point, it is explained why MNEs tend to employ interfirm transactions in preference to arm's length transactions and internal organization to secure external resources. However as to the latter point, it explains why MNEs might increasingly tap international capital markets in parallel with their golbalization. Providing a conceptual framework for understanding the mechanisms which transmit the impacts of internationalization on the corporate practices in rewarding shareholders; Chapter 3 first explains how such transmission mechanisms work theoretically and second, investigates under which conditions the expected impacts would actually be transmitted to the end and under which ones, they would not. The study draws three main conclusions: First, internationalization in various respects is considered to be the factor that most probably would bring about a change in corporate practices of rewarding shareholders. Nevertheless, as the survey showed, there might still be some cases in the future in which the multichannel-oriented rewarding model, prevailing in both Japan and Germany, might not fail to fulfill its function. Third, other indirect factors such as institutional changes in money and capital markets are also likely to push both Japanese and German MNEs to change their traditional practices and to be more responsive to shareholders.
著者
高 巖 Iwao Taka
出版者
麗澤大学経済学会
雑誌
麗澤経済研究 (ISSN:09196706)
巻号頁・発行日
vol.18, no.1, pp.57-66, 2010-03

In this article, we describe how management philosophy affects corporate performance.For this purpose, we conducted experimental and statistical analyses on two corporations and clarified causal relationships between management philosophy and members' performance(their commitment, motivation, contribution, etc.).At the beginning, we introduced three variables, which make it easier for us to understand how individuals treat management philosophy: (1) reflecting philosophy on actual behavior, (2)knowing and understanding philosophy, and (3) having sympathy for philosophy.Using the results of the experimental research, we explore a persuasive model, which satisfactorily explains how those variables indirectly affect corporate performance via other factors. Second, with this model, we describe, for example, the way senior officers treat management philosophy influences the extent to which followers accept the philosophy. We also suggest that a sense of unity and solidarity helps members take the philosophy seriously. Third, we discuss how management philosophy triggers innovative behavior in organizations.The point we have tried to make in this article is that the more deeply and widely management philosophy permeates an organization, the higher and the stronger performance (of individuals) could be achieved.
著者
趙 家林
出版者
麗澤大学
雑誌
麗澤経済研究 (ISSN:09196706)
巻号頁・発行日
vol.15, no.2, pp.53-78, 2007-09

EMH (Efficient Market Hypothesis) assume all the information are reflected in price so the effort try to finding hidden value seems only west time. But the history of boom and bust in financial market show that the prices of capital assets are not always reflect the intrinsic value. We review the three schools of investment and discuss the relation between risk and return. Because the real investment risk is the danger of a loss of quality and earning power through economic changes or deterioration in management, so the risk shall not be measured by the percent of price variability. And the idea of risk management based on rational market price and beta shall be abandoned.
著者
中島 真志
出版者
麗澤大学
雑誌
麗澤経済研究 (ISSN:09196706)
巻号頁・発行日
vol.15, no.1, pp.79-92, 2007-03

A payment system is a mechanism that facilitates smooth transfer of funds among financial institutions. Generally, it consist of a set of instruments, procedures, rules and technical bases, like computers and networks. Payment systems are the important social infrastructures that support the whole national economic activities and financial transactions. Payment systems are classified into two categories: "central bank operating systems" and "private-owned systems". Payment systems are also broken down into "large-value payment systems" and "retail payment systems", according to the amount of payments processed. Generally, a large-value payment system operated by a central bank is the most important payment system in a country, which handles the interbank fund transactions, the payments for government bond, and the transactions between central bank and private financial institutions. Coincidentally, the two enhancement projects of large-value payment system operated by central banks are developing in EU and Japan. In Japan, Bank of Japan is working on "RTGS-XG project", on the other hand, European Central Bank is promoting "TARGET2 Project". It is quite interesting that these two projects are similarly named as "Next Generation RTGS Project". Both projects have something in common in the point that both payment systems are evolving from the "pure RTGS systems" to the "integrated systems". First of all, this paper gives a summary account of the two Next Generation RTGS Projects in EU and Japan. Then, the characterization and positioning of the Next Generation RTGS systems in the evolutionary process of large-value payment systems would be discussed.
著者
大橋 照枝
出版者
麗澤大学
雑誌
麗澤経済研究 (ISSN:09196706)
巻号頁・発行日
vol.15, no.2, pp.19-34, 2007-09

The HSM was advocated by Ohashi in 2000, and then in 2005 a joint researcher Dr. Hong X. Nguyen joined the effort to develop the indicator, until Ver. 3. This paper deals with the "Human Satisfaction Measure (HSM), a sustainable social welfare indicator. The paper covers the following elements: (1) Examining two papers (Easterlin, 2003 and Vemuri/Costanza, 2006) that have been advocated as the nature of happiness or a measure of satisfaction; (2) Suggesting that it is indispensable to incorporate the "sustainable development or sustainability" as a indicator of satisfaction or happiness; (3) Demonstrating the superiority of the HSM through the comparison among seven international indicators including the HSM in terms of the "sustainable development" or sustainability; (4) Reviewing the versions 3-(1) and (2) of HSM using "distance to target (DtT) method, developed in 2005, and referring to the ambiguity of sustainability in Japan that the version 3-(2), in particular, indicates; and (5) Aiming at the upgrade of a weighted research using the Analytic Hierarchy Process (AHP) method so as to put the version 3 of the HSM into practical use as an indicator for policy planning.