Using a linear complementarity approach, we simulate the Japanese wholesale electricity market as a transmission-constrained Cournot market. Following Hobbs (2001), our model adopts the Cournot assumption in the energy market and the Bertrand assumption in the transmission market. The Bertrand...

In this study, quantitative analysis of university industry collaborations (UICs) is conducted in case of Japan by using the dataset from RIETI's UIC Survey and METI's Basic Survey on Business Structure and Activities. A focus is put on comparing new technology based firms (NTBFs), to large...

This paper surveys researches on the new institutional arrangements for product innovation emerging in Silicon Valley. Special reference is made to the characteristics that go beyond the traditional property rights framework. First, the complicated patterns in allocation of control rights...

TAMA Industrial Activation Association Inc. (hereinafter the "TAMA Association"), was established by private companies, mainly product developing small and medium-sized enterprises, universities and other education and research organizations,industry associations,and local governments, in the...

Corporate governance can be defined to be an institution that constrains relations between corporate managers and various stakeholders, including shareholders, creditors, workers, suppliers, and customers. Under this broad definition, corporate governance is a system of various sub-systems that...

This paper models two-sided market platforms, which connect third-party suppliers (developers) of many different products and services to users who demand a variety of these products. From a positive perspective, our model provides a simple explanation for the stark differences in platform...

In this paper, we study the structural change occurring in Japan's post-World War II era of rapid economic growth. We use a two-sector neoclassical growth model with government policies to analyze the evolution of the Japanese economy in this period and to assess the role of such policies. Our...

In order to protect the public's confidence in deposit money, governments usually guarantee bank deposits implicitly or through an explicit deposit insurance system. Thus bank insolvency does not induce immediate bank runs. In many episodes of banking crises, several years passed quietly after...

In this paper we examined effects of bank consolidations on the financial system, using the data on the Japanese banking industry before the Second World War, when the first bank merger wave occurred. The focuses of our analysis are the governance structure and performance of banks. With respect...