RIETI-CEPR コンファレンス

コーポレートファイナンスとコーポレートガバナンス:日本と欧州の比較 (配付資料)

イベント概要

配付資料 2005年9月13日(火)

第一部:アカデミックセミナー

開会挨拶

吉冨 勝顔写真

吉冨 勝 (RIETI所長・CRO)

略歴

Prior to his current post, Dr. Yoshitomi was Dean of the Asian Development Bank (ADB) Institute, Tokyo (1999-2003). He was also Visiting Executive Professor at the Wharton School, University of Pennsylvania (1993-98). Dr. Yoshitomi served as Director-General, Coordination Bureau at the Economic Planning Agency (EPA) (1991-92); Director-General, Economic Research Institute, EPA (1987-91); and Director, Economics and Statistics Department, OECD, Paris (1984-87). He also served as an economist at the IMF (Washington, D.C.) (1970-74). He holds a Ph.D. in economics from the University of Tokyo.
Major works: Reality of the Asian Economies -- Miracle, Crisis, and Evolution of Institutions --, 2003 (in Japanese); Post-Crisis Development Paradigms in Asia (co-authored with the staff of the ADB Institute), 2003; Reality of the Japanese Economy -- Beyond Conventional Views , 1998 (in Japanese).
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セッション1:「Competing Models of Corporate Governance, and the Role of Boards」

セッションチェア:宮島 英昭顔写真

セッションチェア:宮島 英昭 (RIETIファカルティフェロー/早稲田大学商学部教授・ファイナンス総合研究所副所長)

略歴

1978年立教大学経済学部卒業、 1985年東京大学大学院単位取得修了。東京大学社会科学研究所助手、早稲田大学商学部専任講師、同助教授を経て現職、この間ハーバード大学Reischauer Institute for Japanese Studies客員研究員(1992-94年、2004-)も務める。現在、RIETIファカルティフェロー(2002年-)、早稲田大学ファイナンス総合研究所副所長(2004年-)、財務省財務総合研究所特別研究官(2001年-)、Chung-Ang UniversityのAdjunct Professor(2001年-)も兼任。専門分野は、日本経済論、日本経済史、企業金融、コ-ポレ-トガバナンス。博士(商学・早稲田大学)
主な著作物: 『産業政策と企業統治の経済史:日本経済発展のミクロ分析』有斐閣, 2004;『日本企業の多様化と企業統治:』財務総合政策研究所, 2003年; 『日本的経営・企業行動』貝塚啓明・財務省財務総合政策研究所編; 『再訪日本型経済システム』有斐閣, 2002年; 『現代日本経済』(橋本寿朗・長谷川信氏との共著), 有斐閣, 1998年
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プレゼンテーション:"Employment Policy and Corporate Governance - An Empirical Comparison of the Stakeholder Versus the Profit-Maximization Model-"

清水谷 諭顔写真

清水谷 諭 (RIETIファカルティフェロー/一橋大学経済研究所助教授)

略歴

Before appointment to his current post in 2004, Professor Shimizutani worked at the Cabinet Office of Japan (2001) and the Economic Planning Agency of Japan (1990). His primary research area is micro-level empirical analysis of the Japanese economy. His current research topics include (1) the effects of macroeconomic policy on behavior of households and firms, including the tax cuts implemented in the 1990s; (2) human capital markets (education and labor markets) and R&D as important determinants of long-term economic growth; and (3) efficient management of health care markets (medical care, long-term care and child care) under rapid aging and declining fertility. Professor Shimizutani holds a Ph.D. in economics and an M.A. in applied economics from the University of Michigan, and a B.A. in law from the University of Tokyo.
Major works: An Economic Analysis on the Elderly and Child Care in Japan: Micro-level Investigation with Policy Implication (in Japanese with H. Noguchi), Toko-Keizai Shimpo Sha, 2004; Expectations and Uncertainty in a Deflationary Economy - A Microeconomic Analysis of the Japanese Economy (in Japanese), Nihon Keizai Shimbun Sha, 2005.
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プレゼンテーション:"CEO Labor Markets, Incentives and the Shape of Managerial Contracts"

Mariassunta GIANNETTI顔写真

Mariassunta GIANNETTI (Associate Professor, Department of Finance and SITE, Stockholm School of Economics, Sweden / Research Affiliate, Financial Economics Program, CEPR, UK)

略歴

In addition to the posts above, Dr. Mariassunta Giannetti is also Research Associate at the European Corporate Governance Institute (ECGI), Brussels. She was Assistant Professor at the Department of Finance and SITE (2001-2003); Assistant Professor of SITE (2000-2001) at Stockholm School of Economics; and Economist of Research Department at Bank of Italy (1999-2000). Her research interests are corporate finance, international finance, development and economic growth. Dr. Giannetti holds a Ph.D. in economics from the University of California, Los Angeles; a doctoral degree in economics from University of Naples, Federico II, Italy; and a master's degree in economics from Bocconi University, Italy.
Major works: "Which Investors Fear Expropriation? Evidence from Investors' Portfolio Choices" (with Andrei Simonov), Journal of Finance , 2005; "Do Better Institutions Mitigate Agency Problems? Evidence From Corporate Finance Choices," Journal of Financial and Quantitative Analysis , vol. 38-1, pp.185-212, 2003; "Bank-Firm Relationships and Contagious Banking Crises,"Journal of Money Credit and Banking , vol. 35-2, pp. 239-261, 2003; "On the Mechanics of Migration Decisions: Skill Complementarities and Endogenous Price Differentials," Journal of Development Economics , vol. 71-2, pp. 329-349, 2003.

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プレゼンテーション:"Corporate Performance, Board Structure and its Determinants in the Banking Industry"

Renee Birgit ADAMS顔写真

Renee Birgit ADAMS (Assistant Professor, Department of Finance, Stockholm School of Economics, Sweden/ Research Fellow, Swedish Institute for Financial Research, Stockholm, Sweden)

略歴

In addition to the posts above, Dr. Adams is also Visiting Researcher at Hitotsubashi University, Tokyo, Research Associate at the European Corporate Governance Institute (ECGI), Research Affiliate at the Stockholm Institute for Transition Economics (SITE) and a Founding Member of the Stockholm International Corporate Governance Institute (SICGI). Prior to her current position, Dr. Adams served as Visiting Scholar, Finance Department, Stern School of Business at New York University, New York, (2001-2003), and as Economist, Banking Studies Function, Research and Market Analysis Group, Federal Reserve Bank of New York (1999-2003). Her research focuses on corporate governance, governance of financial institutions, corporate finance, and the economics of organizations. She holds a Ph.D. in economics from the University of Chicago and an M.S. in mathematics from Stanford University.
Major works: "A Theory of Friendly Boards" (with Daniel Ferreira), Journal of Finance , forthcoming; "Powerful CEOs and their Impact on Corporate Performance" (with Heitor Almeida and Daniel Ferreira), Review of Financial Studies , forthcoming; "Do Directors Perform for Pay?" (with Daniel Ferreira), Journal of Labor Economics , revised and resubmitted, 2004; "Is Corporate Governance Different for Bank Holding Companies?" (with Hamid Mehran), Economic Policy Review , 2003; "Identifying the Effect of Managerial Control on Firm Performance" (with Joao Santos), Journal of Accounting and Economics , (3rd ed. under review), 2002.

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ディスカッサント

Mariassunta GIANNETTI顔写真

Mariassunta GIANNETTI (Associate Professor, Department of Finance and SITE, Stockholm School of Economics, Sweden / Research Affiliate, Financial Economics Program, CEPR, UK)

久保 克行顔写真

久保 克行 (早稲田大学商学部助教授)

略歴

Dr. Kubo is Associate Professor of Economics at Waseda University. Previously, he spent three years as a Lecturer of Economics at the Institute for Economic Research at Hitotsubashi University. Dr. Kubo received his B.A. and M.A. in economics from Keio University, and his Ph.D. in industrial relations from the London School of Economics. Dr. Kubo teaches and researches in the area of compensation and incentive strategy, corporate governance, corporate finance and organizational economics.
"Executive Compensation Policy and Company Performance in Japan," Corporate Governance: An International Review , Vol. 13:3, 2005; "Executive Pay in Japan: The Role of Bank-Appointed Monitors and the Main Bank Relationship," (with Naohito Abe and Noel Gaston), Japan and the World Economy , 17.3 pp 371-394, 2005.

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胥 鵬顔写真

胥 鵬 (RIETIファカルティフェロー/法政大学経済学部教授)

略歴

For most of his career, Professor Xu has taught at Hosei University's Department of Economics. Since 1999, he has also spent time at the University of North Carolina, Chapel Hill and Ohio State University, both as Visiting Researcher and Professor. He has served as Faculty Fellow at RIETI since 2003. His areas of expertise include corporate finance, corporate governance, and law and economics. Professor Xu holds a Ph.D. in economics from the University of Tokyo.
Major works: "Bankruptcy Resolution in Japan: Reorganization vs. Rehabilitation," RIETI Discussion Paper 2004/02 , 2004; "Increasing Bankruptcies and the Legal Reform in Japan," Journal of Restructuring Finance , Vol.1, No.2, 417-434, 2004; "Executive salaries as prizes of tournaments, and executive bonuses as managerial incentives in Japan," Journal of the Japanese and International Economies 11, pp.319-346, 1997.
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セッション2:「Ownership Structures and the Role of Foreign and Institutional Investors」

セッションチェア:Jenny Corbett顔写真

セッションチェア:Jenny Corbett (Executive Director, Australia-Japan Research Center, Australian National University, Australia / Reader in the Economy of Japan, Economics Department, University of Oxford, UK / Research Fellow, CEPR, UK)

略歴

日本経済経営研究所(コロンビア大学)リサーチアソシエートを兼任。Journal of the Japanese and International Economies (Academic Press)、及びJapanese Business and Economy (OUP、ニューヨーク)の編集委員を務める。日本のマクロ経済、及び金融政策問題が専門。アジア金融危機、および日本の金融危機のマネージメントについて執筆。
現在、アジア太平洋地域の電子金融と金融サービスにおける地域貿易について研究中。電子金融におけるAPEC金融大臣ワーキンググループの研究プロジェクトの運営にあたり、いくつかの研究助成金を受領。日本で開催される会議に定期的に出席し、自身もボストンに拠点を置く全米経済研究所(NBER)の経済学者と共に、東京にて日本経済における会議等を開催。

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プレゼンテーション:"Foreign Direct Investment: Who Cares About Ownership?"

Colin MAYER顔写真

Colin MAYER (Peter Moores Professor of Finance, Said Business School, University of Oxford, UK / Fellow, CEPR, UK)

略歴

オックスフォード大学Said ビジネススクール・マネージメントスタディー教授、及びオックスフォード・ファイナンシャル・リサーチ・センター・ディレクター兼任。コーポレートファイナンス、課税とガバナンス、及び金融市場の規則等、幅広く執筆。経済政策研究センター (CEPR)の金融市場と財務経済プログラムにおける欧州科学財団ネットワークを指導。スタンフォード大学、マサチューセッツ工科大学、及びブリュッセル大学(ULB/コーポレートガバナンスの第一レオ・ゴールドシュミット客員教授となった学校)にて客員研究員を務める。現在、OUP代表、及びオックスフォード・エコノミックス・リサーチ・アソシエート(OXERA)会長。その他、いくつかの主要な学術的ジャーナルの委員会委員を務める。オックスフォードOriel大学で工学と経済を専攻後、ハーバード大学Harkness Fellowにて経済学修士課程修了(M.A.)、同大学大学院博士課程修了、Ph.D. (経済学)取得。
HM Treasury (英国)、シティーユニバーシティー・ビジネススクール(センター・フォー・スタディー・オブ・ファイナンシャル・インスティチューション・ディレクター)、及び1994年SBS参加前、Warwick大学(財政及び経済学教授)にて勤務。
主な著作物:"Financing the New Economy: Financial Institutions and Corporate Governance," Information Economics and Policy , Vol. 14:2, 2002, pp.311-326; "Governance as a Source Managerial Disciplining," Journal of Applied Corporate Finance , 2001.

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プレゼンテーション:"Behavioural Biases of Institutional Investors under Pressure from Customers -Japan and Germany vs the US-"

首藤 惠顔写真

首藤 惠 (早稲田大学大学院ファイナンス研究科教授)

略歴

Prior to her current position, Professor Suto served as Professor with the Faculty of Economics of Chuo University, Associate Professor with the Faculty of Economics at Meikai University, and Fellow at the Japan Securities Research Institute (JSRI). She was also Visiting Fellow at the Brookings Institution, Visiting Professor at OsakaUniversity, and Visiting Scholar at Oxford University. She received her Ph.D. in economics from Keio University in 1987.
Major Works: "Behavioural Biases of Japanese Institutional Investors: Fund Management and Corporate Governance," Corpoarate Governance , vol. 13:4, 2005; "Capital Structure and Investment Behaviour of Malaysian Firms: A Study of Corporate Governance Before Crisis," Corporate Governance , vol. 11:1 2003; Amerikagata Kigyo Gabanannsuz (co-author), Tokyodaigaku Shuppankai, 2002; Asia no Kinyukiki to Shisutemu Kaikaku (co-author, in Japanese), Hoseidaigaku Shuppankai, 2000; Kinyubunseki no Saisentan (co-author, in Japanese),Toyokeizaishinposya, 2000.

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プレゼンテーション:"Evolution of Ownership: A Three Countries Comparison of the UK, Germany and Japan"

Colin MAYER顔写真

Colin MAYER (Peter Moores Professor of Finance, Said Business School, University of Oxford, UK / Fellow, CEPR, UK)

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Christina AHMADJIAN顔写真

Christina AHMADJIAN (一橋大学大学院国際企業戦略研究科教授)

略歴

Professor Ahmadjian taught at Columbia University's Graduate School of Business and the Graduate School of International Corporate Strategy at HitotsubashiUniversity before assuming her current post. She also worked for Mitsubishi Electric Corporation and Shearson Lehman Brothers in Japan, and for Bain & Company in the U.S. Her expertise is in corporate governance, organizational change in global environments, comparative institutional analysis in East Asia, inter-organizational networks, and Japanese business and economy. She holds a Ph.D. from the University of California at Berkeley, Haas School of Business Administration.
Major works: "Changing Japanese Corporate Governance," Japan's Managed Globalization: Adapting to the 21st Century, New York: M.E. Sharpe, 2003.

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Vikas MEHROTRA顔写真

Vikas MEHROTRA (Associate Professor of Finance, School of Business, University of Alberta, Canada /一橋大学経済研究所客員助教授)

略歴

Prior to his current position, Dr. Mehrotra was Visiting Associate Professor of Finance at the Kenan-Flagler School of Business, University of North Carolina in the United States (2001-2002); Associate Professor of Finance (2000-2001) and Assistant Professor of Finance (1992-2000), School of Business, University of Alberta, Canada. His interests are corporate restructuring and governance, capital structure, and financial market microstructure. He obtained his Ph.D. from the University of Oregon in 1992.
Major works: "When Labor Has a Voice in Corporate Governance" (with Olubunmi Faleye and Randall Morck), Journal of Financial and Quantitative Analysis , forthcoming, 2005; "Do Managers Have Capital Structure Targets? Evidence from Corporate Spinoffs" (with Wayne Mikkelson and Megan Partch), Journal of Applied Corporate Finance , Winter 2005; "The Design of Financial Policies in Corporate Spinoffs" (with Wayne Mikkelson and Megan Partch), Review of Financial Studies , 2004; "The Board and Beyond", report in Corporate Decision-Making in Canada , (edited by Randall Morck and Ronald Daniels), Industry Canada Research Series, 1995.

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寺西 重郎顔写真

寺西 重郎 (一橋大学経済研究所教授)

略歴

Prior to his current post, which he assumed in 1984, Professor Teranishi served as Visiting Fellow at Yale University and Associate Professor and Lecturer at Hitotsubashi University's Institute of Economic Research. Since 2002, he has served as an advisor to the Bureau of Higher Education at the Ministry of Education and Science, to the Institute of Monetary and Economic Studies at the Bank of Japan (1999-2000), and to the Center for International Research on the Japanese Economy at the University of Tokyo (1997-present). He also serves as editor of various journals including Pacific Basin Finance Journal (1993-present). Professor Teranishi holds a Ph.D. in economics from Hitotsubashi University.
Major works: The Japanese Experience of Economic Reforms (edited with Y. Kosai), Macmillan, 1993.

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セッション3:「Banking Crises and Bank Regulation」

セッションチェア:寺西 重郎顔写真

セッションチェア:寺西 重郎 (一橋大学経済研究所教授)

プレゼンテーション:"Japan's Banking Crisis: Who has the Most to Lose?"

Yishay YAFEH顔写真

Yishay YAFEH (Senior Lecturer, School of Business Administration and Department of East Asian Studies, Hebrew University of Jerusalem, Israel / Research Fellow, CEPR, UK)

略歴

Prior to current position, Dr. Yafeh served as Associate Professor, Department of Economics, University of Montreal (2002-2003); Alon Lecturer of Economics and East Asian Studies, Hebrew University (1995-2002); Visiting Lecturer of the Eitan Berglas School of Economics, Tel Aviv University (2002); and Visiting Fellow, St. Antony's College, University of Oxford; the Nissan Institute; and the Said Business School (2000-2001). He is also Research Fellow at the Centre for Economic Policy Research (CEPR) (2003-present), and Research Associate at the European Corporate Governance Institute (2004-present). Dr. Yafeh received his Ph.D. in economics from Harvard University in 1993.
Major Works: Emerging Markets and Financial Globalization: Sovereign Bond Spreads in 1870-1913 and Today (with Paolo Mauro and Nathan Sussman), Oxford University Press, forthcoming; "Business Groups and Risk Sharing around the World" (with Tarun Khanna), Journal of Business , Vol. 78, No. 1, pp. 301-340, January 2005; "Emerging Market Spreads: Then versus Now" (with Paolo Mauro and Nathan Sussman), Quarterly Journal of Economics , Vol. 117:2, pp. 695-733, May 2002; "On the Costs of a Bank-Centered Financial System: Evidence from the Changing Main Bank Relations in Japan" (with David Weinstein), Journal of Finance , Vol. 53: 2, pp. 635-672, April 1998.

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プレゼンテーション:"Bank Regulation and Market Discipline Around the World"

鶴 光太郎顔写真

鶴 光太郎 (RIETI上席研究員/慶應義塾大学大学院商学研究科特別招聘教授)

略歴

1984年東京大学理学部数学科卒業後、経済企画庁入庁。OECD経済局エコノミスト(1995~2000年)、日本銀行金融研究所研究員を経て、2001年より現職。 現在は慶應義塾大学大学院商学研究科特別招聘教授も兼任。オックスフォード大学大学院経済学修士課程修了(M.Phil.)、同大学大学院博士課程修了、Ph.D. (経済学)取得。
専門分野:コーポレート・ガバナンス、金融システム、組織の経済学、経済政策の政治経済学主な著作物:(共著)『日本の財政改革』東洋経済新報社、2004年; "Japanese corporate governance in transition"; Seoul Journal of Economics , Vol.13, No.3, 2000;『日本的市場経済システム:強みと弱みの検証』講談社現代新書, 1994年
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小林 慶一郎顔写真

小林 慶一郎 (RIETI研究員/朝日新聞客員論説委員)

略歴

Dr. Kobayashi is also Visiting Fellow at the Ministry of Finance's Policy Research Institute. He joined the Ministry of International Trade and Industry (MITI, currently METI) in 1991 and served as Assistant Director (1991-1995) and Deputy Director (1998-2001). He was Visiting Fellow at the Research and Statistics Department, Bank of Japan, (2001-2002). His research interests are the macroeconomics of the bad debt problem and the banking system, business cycle models, and endogenous growth theory.
He received his Ph.D. in economics from the University of Chicago.
"Forbearance Impedes Confidence Recovery," Journal of Macroeconomics , forthcoming; "Fiscal Consequences of Inflationary Policies," Journal of the Japanese and International Economies forthcoming; "Debt Disorganization in Japan" (with Masaru Inaba), Japan and the World Economy, 2004; "A Theory of Debt Disorganization," Journal of Restructuring Finance , 2004; The Price of Escape (in Japanese), Nihon Keizai Shimbun, 2003; Trap of the Japanese Economy (in Japanese, co-authored with Sota Kato), Nihon Keizai Shimbun, 2001; Economics of Balance-Sheet Restructuring (in Japanese, co-edited with Mitsuhiro Fukao, Tatsuya Terazawa), Toyokeizai, 2001.
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Yupana WIWATTANAKANTANG顔写真

Yupana WIWATTANAKANTANG (一橋大学経済研究所経済制度研究センター助教授)

略歴

In 1991, Professor Wiwattanakantang joined the Head Office of Siam Commercial Bank, Thailand. She served as Visiting Associate Professor of Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University (2000-2003), and as Associate Professor, Institute of Economic Research, Hitotsubashi University (2003). Her specializations are Corporate Finance and Corporate Governance. She received her Ph.D. in economics from Hitotsubashi University in 2000.
Major Works: "Did Families Lose or Gain Control after the East Asian Financial Crisis? Evidence from Thailand" (Y. Wiwattanakantang, A. Khantavit, and P. Polsiri), Designing Financial Systems in East Asia and Japan: Toward a Twenty-First Century Paradigm (J. Fan and M. Hanazaki, and J. Teranishi, eds.), Routledge, 2003, pp. 247-272; "Banking in Japan: Will 'Too Big To Fail' Prevail?" (Y. Wiwattanakantang, A. van Rixtel, T. Souma, and K. Suzuki), Too-Big-Too-Fail: Policies and Practices in Government Bailouts (B. Gup ed.), 2004, pp. 253-284; "Connected Lending: Thailand before the Financial Crisis," (Y. Wiwattanakantang, R. Kali and C. Charumilind), Journal of Business , forthcoming.

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配付資料 2005年9月14日(水)

セッション4:「The Effects of M & A and Takeover Regulation」

セッションチェア:Yishay YAFEH顔写真

セッションチェア:Yishay YAFEH (Senior Lecturer, School of Business Administration and Department of East Asian Studies, Hebrew University of Jerusalem, Israel / Research Fellow, CEPR, UK)

プレゼンテーション:"Payout Policy as a Protective Measure Against a Hostile Takeover: Has the Threat of a Takeover Improved the Management of the Target Firm?"

鈴木 一功顔写真

鈴木 一功 (中央大学専門職大学院国際会計研究科教授)

略歴

Professor Suzuki teaches corporate finance courses at CGSA. He also serves as External Advisor for ALC Solutions Division of Mizuho Bank, and is Member of the editorial board of Security Analysts Journal. Prior to his current position, he worked at Fuji Bank (currently Mizuho Bank) in Japan. He received his MBA at INSEAD in France, and his Ph.D. in Finance from the University of London (London Business School).
Major Works: "Facing up to the Cost of Equity: Changing Behaviour of Japanese Companies" (Chapter 11), Finance and the International Economy: 6 , Oxford University Press, 1992; MBA Game Theory , Diamond Inc., 1999; Valuation in Practice , Diamond Inc., 2004; "New Development in Hostile Takeover Market in Japan: A Case of TOB for Sotoh and Yushiro Chemical Industry," Security Analysts Journal , Security Analysts Association of Japan, October 2004.

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プレゼンテーション:"Takeover Regulation Reforms in Europe and Corporate Governance Convergence"

Marc GOERGEN顔写真

Marc GOERGEN (Professor of Finance, Sheffield University Management School (SUMS), UK)

略歴

ジョージ・ワシントン大学法科大学院(米ワシントンDC) Institute for International Corporate Governance and Accountabilityフェロー、及びEuropean Corporate Governance Institute(ブリュッセル)研究員を兼任。
マンチェスター科学技術大学経営管理大学院にて金融の上席講師(2002-2004)及び講師(1999-2002)、Reading大学経済学部ISMAセンターにて講師(1997-1998)、Manchester School of Accounting and Finance at University of Manchester及びSchool of Management, UMISTにて講師を務める(1997)。専門分野は、経験的コーポレートファイナンス(特にコーポレートガバナンス、コーポレートオーナーシップ及びコントロール); 新規株式公開、吸収合併と買収、配当政策、及び投資モデル。オクスフォード大学Keble Collegeにて博士号(経済学)取得。
主な著作物: Insider Trading, News Releases and Ownership Concentration (Fidrmuc, J.、L. Renneboog共著), the Journal of Finance , 近刊予定; When Do German FirmsChange their Dividends? (Renneboog, L.、L. Correia da Silva 共著), Journal of Corporate Finance 11, 375-399, 2005; Dividend Policy and Corporate Governance (with Correia da Silva and L. Renneboog), Oxford University Press , 2004; Corporate Governance and Financial Performance: A Study of German and UK Initial Public Offerings, Cheltenham, Edward Elgar Publishing ,1998

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プレゼンテーション:"Did Efficiency Improve? Megamergers in the Japanese Banking Sector"

原田 喜美枝顔写真

原田 喜美枝 (中央大学専門職大学院国際会計研究科助教授)

略歴

In addition to the above post, Professor Harada is also Visiting Researcher at the Security Analysts Association of Japan (since 2001) and Associate Editor (since 2000) of Securities Analysts' Journal . Prior to assuming her current post, she was Lecturer at Daito Bunka University (2001-2003), and Researcher at the Japan Securities Research Institute (1997-2001). She also served as Visiting Researcher at the ResearchCenter for Advanced Science and Technology, University of Tokyo (2002-2004), and also at Korea Institute for International Economic Policy (2004 Summer). She has received her Ph.D. in economics from the University of Tokyo in 2003.
Major Works: "Effects of the Bank of Japan's Intervention on Yen/Dollar Exchange Rate Volatility" (with Toshiaki Watanabe), Journal of the Japanese and International Economies , forthcoming; "Dividend Signaling in Context: Evidence from Japan" (with Pascal Nguyen), Pacific-Basin Finance Journal , forthcoming; "Japan Premium and Stock Prices: Two Mirrors of Japanese Banking Crises" (with Takatoshi Ito), International Journal of Finance & Economics , Vol. 10:3, 2005; "Credit Derivatives Premium as a New Japan Premium" (with Takatoshi Ito), Journal of Money, Credit and Banking , 2004.

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ディスカッサント

Yishay YAFEH顔写真

Yishay YAFEH (Senior Lecturer, School of Business Administration and Department of East Asian Studies, Hebrew University of Jerusalem, Israel / Research Fellow, CEPR, UK)

鶴 光太郎顔写真

鶴 光太郎 (RIETI上席研究員/慶應義塾大学大学院商学研究科特別招聘教授)

Renee Birgit ADAMS顔写真

Renee Birgit ADAMS (Assistant Professor, Department of Finance, Stockholm School of Economics, Sweden/ Research Fellow, Swedish Institute for Financial Research, Stockholm, Sweden)

第二部:オープンシンポジウム

「日本と欧州におけるコーポレートガバナンス:経営権市場の役割」

総合司会:鶴 光太郎顔写真

総合司会:鶴 光太郎 (RIETI上席研究員/慶應義塾大学大学院商学研究科特別招聘教授)

基調講演:"Corporate Governance: Mobility and Convergence"

Colin MAYER顔写真

Colin MAYER (Peter Moores Professor of Finance, Said Business School, University of Oxford, UK / Fellow, CEPR, UK)

基調講演:"Changing J-type Firms and the Role of M&A in Corporate Governance"

宮島 英昭顔写真

宮島 英昭 (RIETIファカルティフェロー/早稲田大学商学部教授・ファイナンス総合研究所副所長)

パネルディスカッション:「企業買収規制:欧州からの教訓」

セッションチェア:Jenny Corbett顔写真

セッションチェア:Jenny Corbett (Executive Director, Australia-Japan Research Center, Australian National University, Australia / Reader in the Economy of Japan, Economics Department, University of Oxford, UK / Research Fellow, CEPR, UK)

ディスカッサント

Marc GOERGEN顔写真

Marc GOERGEN (Professor of Finance, Sheffield University Management School (SUMS), UK)

日下部 聡顔写真

日下部 聡 (前 経済産業省経済産業政策局産業組織課長)

略歴

横浜国立大学経済学部卒業。1982年通商産業省入省。通商政策局、生活産業局、経済企画庁、基礎産業局に勤務後、1989年より米国ロチェスター大学留学。帰国後、1991年生活産業局繊維製品課、1993年産業政策局総務課、1994年同局企業行動課、1995年同局総務課、1996年大臣官房会計課を経て、1997年資源エネルギー庁公益事業部企画官。この間、公益事業制度改正審議室長ならびに2000年より機械情報産業局情報経済室長を併任。2001年より経済産業省商務情報政策局情報経済課長を経て、2002年より経済産業省経済産業政策局産業組織課長を務め、2005年9月より製造産業局自動車課長。

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興津 誠顔写真

興津 誠 (帝人株式会社代表取締役会長)

略歴

東京大学経済学部卒業。帝人株式会社入社後、海外事業部、ポリノバ・ソシェダード・アノニマ(メキシコ)、計画部、開発企画部を経て、帝人製機株式会社企画部長に就任(1984)。同社理事航空・油機事業部油機計画部長、常務理事企画管理室副室長、取締役企画管理副室長、常務取締役企画管理室長、代表取締役社長、及び帝人株式会社取締役(1999)等を歴任後、現職。また、TMTマシナリー株式会社取締役及びナブテスコ株式会社取締役会長を兼任。

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Paul SHEARD顔写真

Paul SHEARD (リーマンブラザーズ証券会社マネージング・ディレクター、チーフエコノミスト・アジア)

略歴

アジア地域担当するチーフエコノミスト。リーマン・ブラザーズのアジア地区の拠点である東京を活動拠点とする。オーストラリア国立大学で経済学修士号と日本経済の博士号を取得。同大学と大阪大学で教鞭をとり、また日本銀行金融研究所、スタンフォード大学などで客員研究員を務めた。日本経済の研究者として注目される中、10年前に学術会から金融業界に転じた。国内外の政策担当者から意見を求められることも多く、その見解はメディアでも度々紹介される。政府経済審議会の委員を2回務めている。独立行政法人評価委員会経済産業研究所分科会委員。内閣府構造改革評価報告書タスクフォース委員。2003年より、オリックス株式会社社外取締役を務める。在日年数は合計16年におよぶ。
主な著書:『メインバンク資本主義の危機―ビッグバンで変わる日本型経営』東洋経済新報社, 1997 (サントリー学芸賞受賞); 『企業メガ再編―新・日本型資本主義の幕開け』2000, 東洋経済新報社; 英文の編著書も二冊。

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閉会挨拶

及川 耕造顔写真

及川 耕造 (RIETI理事長)

略歴

東京大学経済学部経済学科卒業後、通商産業省入省。通商政策局経済協力部経済協力企画官、生活産業局紙業課長、外務省欧州共同体日本政府代表部参事官、中小企業庁小規模企業部小規模企業政策課長、防衛庁装備局管理課長、内閣官房内閣審議官(内閣内政審議室)、大臣官房総務審議官、防衛庁装備局長、特許庁長官等を歴任し、(財)機械産業記念事業財団参与(2002-2003)、(株)野村総合研究所顧問(2002-2003)、日本政策投資銀行理事(2003-2005)を経て現職。
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