研究業績 2023.1.5

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研究業績一覧 (2021年1月14日現在)（※クリックで展開）

1. 査読有り論文

Yagi, M. and Managi, S., “The spillover effects of rising energy prices following 2022 Russian invasion of Ukraine” Economic Analysis and Policy, vol.77C, pp.680-695, 2023. doi: 10.1016/j.eap.2022.12.025

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Yagi, M. and Managi, S., “Global Supply Constraints from the 2008 and COVID-19 Crises,” Economic Analysis and Policy, vol.69, pp.514-528, 2021. doi: 10.1016/j.eap.2021.01.008

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Yagi, M. and Kokubu, K., “A Framework of Sustainable Consumption and Production from the Production Perspective: Application to Thailand and Vietnam,” Journal of Cleaner Production, vol.276, 124160. doi: 10.1016/j.jclepro.2020.124160

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Yagi, M., Kagawa, S., Managi, S., Fujii, H., and Guan, D., “Supply Constraint from Earthquakes in Japan in Input-Output Analysis,” Risk Analysis, vol.40 (9), pp.1811-1830, 2020. doi: 10.1111/risa.13525
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要旨

Disasters often cause exogenous flow damage (i.e., the [hypothetical] difference in economic scale with and without a disaster in a certain period) to production (“supply constraint”). However, input-output (IO) analysis (IOA) cannot usually consider it, because the Leontief quantity model (LQM) assumes that production is endogenous; the Ghosh quantity model (GQM) is considered implausible; and the Leontief price model (LPM) and the Ghosh price model (GPM) assume that quantity is fixed. This study proposes to consider a supply constraint in the LPM, introducing the price elasticity of demand. This study uses the loss of social surplus (SS) as a damage estimation because production (sales) is less informative as a damage index than profit (margin); that is, production can be any amount if without considering profit, and it does not tell exactly how much profit is lost for each supplier (upstream sector) and buyer (downstream sector). As a model application, this study examines Japan’s largest five earthquakes from 1995 to 2017 and the Great East Japan Earthquake (GEJE) in March 2011. The worst earthquake at the peak tends to increase price by 10-20% and decrease SS by 20-30%, when compared with the initial month’s prices/production. The worst damage tends to last eight months at most, accumulating 0.5-month-production damage (i.e., the sum of [hypothetical] differences in SS with and without an earthquake [for eight months] is 50% of the initial month production). Meanwhile, the GEJE in the five prefectures had cumulatively, a 25-month-production damage until the temporal recovery at the 37th month.
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Yagi, M. and Kokubu, K., “Waste Decomposition Analysis in Japanese manufacturing sectors for Material Flow Cost Accounting,” Journal of Cleaner Production, vol.224, pp.823-837, 2019. doi: 10.1016/j.jclepro.2019.03.196
邦題

「マテリアルフローコスト会計のための日本の製造業における廃棄物分解分析」

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要約

本研究では、企業内のマテリアルフローと財務フローの両方を扱うマテリアルフローコスト会計（MFCA）の観点から、企業の廃棄物発生に対するマテリアルと財務の要因の影響を調査するための企業廃棄物分解モデルを提案する。提案されるモデルは、廃棄物をマテリアルロス率（原材料の廃棄物比率[WRMat]）、原材料原価比率（RtCR、原材料使用効率）、売上原価率（またはCOGSR）、総資産回転率（TATR）、レバレッジ、および総資本に分解する。適用例として、log-mean Divisia index（LMDI）法を用いて廃棄物分解分析を行い、2010年から2015年までの5つの日本の製造業における125の上場企業を分析する。 LMDIの結果によると、MFCAで最も重要な項であるRtCRが、2015年現在の廃棄物発生量の増加に最も大きな影響を及ぼすことが示された。しかし、この効果は時系列間と業種間でそれほど頑強ではないことから、これはMFCAが主に特定の企業・部門または年に有効であることが暗示される。また、企業の環境負荷（廃棄物と炭素の排出）は、モデル上でレバレッジと負の関係に、総資本と正の関係にある可能性が高いため、金融および株式市場が企業の環境負荷の決定に重要な役割を果たすことが暗示される。

From the perspective of material flow cost accounting (MFCA), which treats both material and financial flows within a company, this study proposes a corporate waste decomposition model to investigate the effects of material and financial factors on corporate waste generation. The proposed model decomposes waste into the material loss (waste ratio of raw materials [WRMat]), raw material-to-cost ratio (RtCR; material use efficiency), cost-to-sales ratio (or COGSR), total asset turnover ratio (TATR), leverage, and total equity. As an application, the waste decomposition analysis is performed using the log-mean Divisia index (LMDI) method, and 125 listed firms in 5 Japanese manufacturing sectors from 2010 to 2015 are analyzed. The LMDI results show that the RtCR, the most crucial term in MFCA, had the largest effect on increases in waste generation as of 2015; however, this effect is not so robust among sectors over the years, implying that MFCA is valid mainly for specific companies/sectors or years. Also, corporate environmental burdens (waste and carbon emission) are likely to be correlated negatively with leverage and positively with total equity in the models, implying that the financial and stock markets have an essential role in deciding corporate environmental burdens.
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Yagi, M. and Managi, S., “Shadow price of patent stock as knowledge stock: time and country heterogeneity,” Economic Analysis and Policy, vol.60, pp.43-61, 2018. doi: 10.1016/j.eap.2018.09.001
邦題

「知識ストックとしての特許ストックのシャドープライス：時間と国の異質性」

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要旨

This study compares the shadow price (marginal cost) and shadow value (total cost) of patent stock (as knowledge stock) in each of 92 countries between 1992 and 2010. Two specifications are considered in the data envelopment analysis approach. One specification considers population, capital, patent stock, energy use (four inputs), greenhouse gas (undesirable output), and gross domestic product (desirable output). The other uses human capital and natural capital instead of population and energy use. Under these two specifications, respectively, the shadow price of the patent stock (on weighted average) for the whole period is −0.106 and −0.054 million US dollars per patent in the entire sample. Similarly, the shadow value of the patent stock (by the ratio of gross domestic product) in the entire sample is −5.8% and −2.9%, respectively. As the standing position of patent stock, the patent stock is less valuable than human capital and (produced) capital but more valuable than population, energy use, and natural capital. The patent stock also is likely to be valuable in developing countries. In addition, the shadow value of the patent stock is relatively high in certain large countries and nearly flat in most of the countries.
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Xie, J., Nozawa, W., Yagi, M., Fujii, H., and Managi, S., “Do Environmental, Social and Governance Activities Improve Corporate Financial Performance?,” Business Strategy and the Environment, vol.28 (2), pp.286-300, 2019. doi: 10.1002/bse.2224
タイトル（邦題）

Do environmental, social, and governance activities improve corporate financial performance?

「環境と社会、ガバナンスの活動は企業の財務パフォーマンスを改善するか？」

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Wiley Online Library MPRA [DiscussionPaper] Researchmap
要旨（和訳）

This study investigated the relationship between corporate efficiency and corporate sustainability to determine whether firms concerned about environmental, social, and governance (ESG) issues can also be efficient and profitable. We applied data envelopment analysis to estimate corporate efficiency and investigated the nonlinear relationship between corporate efficiency and ESG disclosure. Evidence shows that corporate transparency regarding ESG information has a positive association with corporate efficiency at the moderate disclosure level, rather than at the high or low disclosure level. Governance information disclosure has the strongest positive linkage with corporate efficiency, followed by social and environmental information disclosure. Moreover, we explored the relationship between particular ESG activities and corporate financial performance (CFP), including corporate efficiency, return on assets, and market value. We found that most of the ESG activities reveal a nonnegative relationship with CFP. These findings may provide evidence about voluntary corporate social responsibility strategy choices for enhancing corporate sustainability.

本研究では、環境、社会、ガバナンス（ESG）の問題に関心を持つ企業は効率的で収益性があるかどうかを判断するために、企業の効率性と企業の持続可能性の関係を調査した。データ包絡分析（DEA）を適用して企業効率を推定し、企業効率とESG開示の非線形関係を分析した。結果として、ESG情報に関する企業の透明性は、高または低の開示レベルではなく、中程度の開示レベルでの企業の効率性と積極的に関連していることを示された。ガバナンス情報の開示は、企業の効率性と最も強い正の相関があり、それに社会および環境の情報開示が続く。さらに、本研究では、特定のESG活動と、企業の効率、資産収益率、市場価値などの企業の財務パフォーマンス（CFP）との関係を調査した。結果として、ESG活動のほとんどはCFPとの非負の関係があった。これらの分析結果は、企業の持続可能性を高めるための自主的な企業の社会的責任戦略の選択に関する証拠を提供する可能性がある。
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Yagi, M. and Kokubu, K., “Corporate Material Flow Management in Thailand: The Way to Material Flow Cost Accounting,” Journal of Cleaner Production, vol. 198, pp.763-775, 2018. doi: 10.1016/j.jclepro.2018.07.007
邦題

「タイにおける企業のマテリアルフロー管理：マテリアルフローコスト会計への道」

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要旨

In recent years, material flow cost accounting (MFCA) has gradually been recognized in Asia by the standardization of ISO 14051 and 14052 and by the project of dissemination undertaken by the Asian Productivity Organization (APO). However, MFCA is still not used across the board. This study analyzes the characteristics of material flow (MF) management to facilitate the expanded use of MFCA. The research framework of this study investigates the degree of MF management and the sequential re- lationships among financial factors, MF management, and waste performance, based on a questionnaire survey of non-financial listed companies in Thailand. Fifty-eight percent of the respondent firms answer that they are managing MF information (self-rating). Meanwhile, 50%, 49%, 29%, and 24% of the firms actually disclose the amounts of total waste, hazardous waste, raw materials consumed, and recycled waste, respectively. The results of this study show that respondent firms with MF management (self-rating) are more likely to manage/disclose total waste, hazardous waste, and raw materials consumed than those without it. In terms of financial factors, cost ratio and profitability are likely to affect firm decisions regarding whether to manage the MF. Additionally, MF management is likely to decrease the hazardous waste ratio. The series of results shows that firms in Thailand are more likely to be concerned about hazardous waste management than resource efficiency. Therefore, hazardous waste should probably be thoroughly managed, as a preliminary step in the promotion of MFCA.
参考文献

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Yagi, M. and Managi, S., “Decomposition Analysis of Corporate Carbon Dioxide and Greenhouse Gas Emissions in Japan: Integrating Corporate Environmental and Financial Performances,” Business Strategy and the Environment, vol. 27(8), pp.1476-1492, 2018. doi: 10.1002/bse.2206
邦題

「日本における企業の二酸化炭素と温室効果ガス排出量の分解分析：企業の環境・財務パフォーマンスの統合」

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要約

近年の実証的研究は、二酸化炭素（CO2）と温室効果ガス（GHG）排出量の観点から企業の環境パフォーマンス（CEP）と企業の財務パフォーマンス（CFP）との間の正の関係を裏付けることが多い。ただし、この関係はCEP（絶対および相対CEP）およびCFP（会計ベースおよび市場ベースのCFP）の測定に依存する。この関係を構造的に理解するために、文献に基づいて、本研究はCO2とGHG排出量と経済的要因を統合する恒等式モデルを提案する。このモデルは、CO2（GHG）排出量を、炭素原単位（GHG原単位）、エネルギー原単位、売上原価率、総資産回転率（TATR）、レバレッジ、および株主資本に分解する。サプライチェーンGHG排出量のモデルは、さらにサプライチェーンGHG強度を採用する。分解法として、本研究では対数平均ディビジア指数（LMDI）を使用する。CO2モデルの適用例として、2011年度から2015年度までの16セクターの日本の製造業企業を対象とする。推計結果として、2015年時点のCO2排出量の変化（-802.1キロトン[kt]）は次のように分解される（炭素原単位：2922.5 kt、エネルギー原単位：-26036.3 kt、売上原価率：-6350.5 kt、TATR：-8495.6 kt、レバレッジ：-7912.3 kt、株主資本：45070.1 kt）。相対寄与率の平均値は、炭素原単位が20.6％でエネルギー原単位が19.1％であり、残りの約60％が経済的要因である。 2015年の時点で、16のセクターのうち、総CO2排出量の変化は、株主資本に対して統計的に有意に正の関係があり、TATRおよびレバレッジに対して有意に負の関係がある一方で、炭素強度とエネルギー強度、および売上原価比率は有意な関係が見られなかった。

Recent empirical studies often support the positive relationship between corporate environmental performance (CEP) in terms of carbon dioxide (CO2) and greenhouse gas (GHG) emissions and corporate financial performance (CFP). However, this depends on the measurements of CEP (the absolute and relative CEP) and CFP (accounting-based and market-based CFP). To understand the relationship structurally, based on the literature, this study proposes identity models that integrate CO2 and GHG emissions and financial factors. The models decompose CO2 (GHG) emissions into carbon intensity (GHG intensity), energy intensity, the cost-to-sales ratio, the total-assets-turnover ratio (TATR), leverage, and equity. The model of supply-chain GHG emissions additionally adopts supply-chain GHG intensity. As a decomposition method, this study uses the log-mean Divisia index (LMDI). As an application example of the carbon dioxide model, this study targets Japanese manufacturing firms in 16 sectors from fiscal years (FY) 2011 to 2015. Results show that the change in CO2 emissions as of 2015 (−802.1 kilotonnes [kt]) is decomposed into 2922.5 kt for carbon intensity, −26036.3 kt for energy intensity, −6350.5 kt for the cost-to-sales ratio, −8495.6 kt for the TATR, −7912.3 kt for leverage, and 45070.1 kt for equity. Average values of relative contribution ratios are 20.6% for carbon intensity, 19.1% for energy intensity, and the remaining approximately 60% for financial factors. Among the 16 sectors, as of 2015, the change in total CO2 emission is statistically significantly positive for equity and significantly negative for the TATR and leverage, and it is not significantly correlated to the carbon intensity, the energy intensity, and the cost-to-sales ratio.
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Yagi, M. and Managi, S., “Demographic determinants of car ownership in Japan,” Transport Policy, vol.50, pp.37-53, 2016. doi:10.1016/j.tranpol.2016.05.011
邦題

「日本における自動車所有の人口学的決定要因」

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要旨

This study empirically examines the demographic determinants of car ownership in Japan between 1980 and 2009. Unique car cohort data, composed of the car age and 11 car types, at the prefectural level, is analyzed. The primary reason for examining the demographic determinants of car ownership in Japan is because Japan is projected to face radical demographic changes in the next few decades. These projected changes include depopulation and an aging population with diminishing household size. This study will be the first empirical study of the car cohort model with large countrywide observations in the recent literature. This study classifies the demographic determinants into five categories: (I) longitudinal factors, (II) economic factors, (III) natural factors, (IV) social factors, and (V) other transports. Although some tendencies vary among car types, this study finds the following tendencies of ordinary car ownership (compact four-wheel drive trucks and regular and compact passenger cars). Regarding the longitudinal factors, the long-run effect is much higher than average in the recent literature, whereas the semi elasticity of car age is approximately −7%. Regarding the economic factors, the elasticities of income and fuel price on car ownership tend to be less intense than in earlier studies. Regarding the natural factors of population increase, the elasticities of population and average household size on car ownership tend to be negative. This indicates that a decrease in population and household size in Japan will accelerate car ownership. In addition, the ratio of elderly people has various effects depending on car types. Regarding the social factors of population increase, car ownership tends to be encouraged by the concentration of population within prefecture, and increased and decreased for relatively new (aged 2-11) and old (aged 12+) cars, respectively, by the concentration of population across prefectures. The former is probably due to a composite effect in urban and rural areas, whereas the latter may be a quick update cycle due to an effect of urbanization. Regarding other transports, the degrees of train and bus use tend to be negatively associated with ordinary car ownership. However, these effects are considerably small and often insignificant as in the literature.
参考文献

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Yagi, M. and Managi, S., “Time-period and industry heterogeneity of innovation activity in Japan,” Economic Analysis and Policy, vol.50, pp.100-119, 2016. doi:10.1016/j.eap.2016.03.002
邦題

「日本におけるイノベーション活動の期間と業界の異質性」

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要旨

This study examines time-period and industry heterogeneity of innovation activity in Japan from 1964 to 2006 using patent data and non-consolidated firm data. This study focuses on the following three periods, based on changes of the Japanese patent system, in and non-manufacturing industries: I) before 1976; II) 1976–1987; and III) after 1988. Specifically, for each degree of patent protection in each industry, this study examines how innovation activities are affected by the following determinants found in the innovation literature: size, market competition, and search variety (depth and scope). Empirical results show that when using the entire sample from 1964 to 2006, the size effect on innovation is significantly positive. In addition, the effects of market competition and search variety on innovation are inverse-U. When considering time-period heterogeneity, the effects of size and search variety are similar to the entire period; however, the inverse-U effect of market competition is broken after 1988. On the other hand, when considering industry heterogeneity, the effects of size and search variety are similar to the entire sample, but differ between manufacturing and non-manufacturing industries. In addition, the effect of market competition is not statistically significant in either industry.
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Yagi, M., Fujii, H., Hoang, V., and Managi, S., “Environmental efficiency of energy, materials, and emissions,” Journal of Environmental Management, vol.161, pp.206-218, 2015. doi:10.1016/j.jenvman.2015.06.054
邦題

「エネルギー、材料、排出物の環境効率」

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要旨

This study estimates the environmental efficiency of international listed firms in 10 worldwide sectors from 2007 to 2013 by applying an order-m method, a non-parametric approach based on free disposal hull with subsampling bootstrapping. Using a conventional output of gross profit and two conventional inputs of labor and capital, this study examines the order-m environmental efficiency accounting for the presence of each of 10 undesirable inputs/outputs and measures the shadow prices of each undesirable input and output. The results show that there is greater potential for the reduction of undesirable inputs rather than bad outputs. On average, total energy, electricity, or water usage has the potential to be reduced by 50%. The median shadow prices of undesirable inputs, however, are much higher than the surveyed representative market prices. Approximately 10% of the firms in the sample appear to be po- tential sellers or production reducers in terms ofundesirable inputs/outputs, which implies that the price of each item at the current level has little impact on most of the firms. Moreover, this study shows that the environmental, social, and governance activities of a firm do not considerably affect environmental efficiency.
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Yagi, M., Managi, S., and Kaneko, S., “Water Use and Wastewater Discharge of Industrial Sector in China,” International Journal of Ecological Economics and Statistics, vol.32(1), pp.33-43, 2014.
邦題

「中国の産業部門の水使用と廃水排出」

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要旨

Problem of water scarcity has been increasingly severe in China. Though industrial sectors play important role for the rapid economic growth, and they consumes water and discharge wastewater. The purpose of this study is to examine the efficiency of water use and wastewater discharge in comparison with those of other inputs and production output in Chinese industry. Measuring efficiency of each input and output factor from 2002 to 2008, we find the average inefficiencies of industrial water use and industrial wastewater discharge are higher than those of capital, labor, and production output in China. In addition, the productivity levels to save water in the water shortage areas are not higher compared to the others. The water use inefficiency has a high dispersion especially in the regions where the amounts of water resources per capita is less than 3000 cubic meter.
参考文献

Cai, X.M., and Ringler, C., 2007, “Balancing agriculture and environmental water needs in China: alternative scenarios and policy options”, Water Policy, Vol.9, pp. 95–108.

Cooper, W.W., and Huang Z, Li S.X., Parker B.R., and Pastor J.T., 2007, “Efficiency aggregation with enhanced Russell measures in data envelopment analysis”, Socio-Economic Planning Sciences, Vol.41(1), pp.1–21.

European commission, 2010, Eurostat. <http://epp.eurostat.ec.europa.eu/ (accessed Apr 18, 2010)>

Fan, H., Huang, H., and Zeng, T., 2006, “Impacts of anthropogenic activity on the recent evolution of the Huang (Yellow) River Delta”, Journal of Coastal Research, Vol.22, pp.919–29.

Food and Agriculture Organization, 2002, “Aquastat”, Rome, Italy: Food and Agriculture Organization. <http://www.fao.org/nr/water/aquastat/data/query/index.html (accessed Apr 18, 2010)>

Foster, S., Garduño, H., Evans, R., Olson, D., Tian, Y., Zhang, W., and Han, Z., 2004, “Quaternary aquifer of the North China Plain — Assessing and achieving groundwater resource sustainability”, Hydrogeology Journal, vol.12, pp.81–93.

Fukuyama, H., and Weber, W.L., 2009, “A directional slacks-based measure of technical inefficiency”, Socio-Economic Planning Sciences, Vol.43, pp.274–87.

Han, Z.S., 2003, “Groundwater resources protection and aquifer recovery in China”, Environmental Geology, Vol.44, pp.106–11.

Hu J.L., Wang, S.C., and Yeh, F.Y., 2006, “Total-factor water efficiency of regions in China”, Resources Policy, Vol.31, pp.217–30.

Kenny, J.F., Barber, N.L., Hutson, S.S., Linsey, K.S., Lovelace, J.K., and Maupin, M.A., 2009, “Estimated use of water in the United States in 2005”, U.S. Geological Survey Circular 1344. <http://pubs.usgs.gov/circ/1344/ (accessed Apr 18, 2010)>

Liu, C.M., and Xia, J., 2004, “Water problems and hydrological research in the Yellow River and the Huai and Hai River Basins of China”, Hydrological Processes, Vol.18, pp.2197–210.

Liu, C.M., and Yu, J.J., 2001, “Groundwater exploitation and its impact on the environment in the North China Plain”, Water International, Vol.26, pp.265–72.

Managi, S. and S. Kaneko (2009), “Chinese economic development and the environment”, Edward Elgar Publishing Limited.

Ministry of Economy, Trade and Industry, Japan, Census of Manufactures 2001 and 2006. <http://www.meti.go.jp/statistics/tyo/kougyo/index.html (accessed Apr 18, 2010)>

National Bureau of Statistics of P.R. China, China Statistical Yearbook 2002–2008, China Statistics Press.

United Nations Statistics Division, 2010, UNdata, New York: United Nations.<http://data.un.org/ (accessed Apr 18, 2010)>

Xia, J., Zhang, L., Liu, C.M., and Yu, J.J., 2007, “Towards better water security in North China”, Water Resource Management, Vol.21, pp.233–47.

Yang, H., and Abbaspour, K.C., 2007, “Analysis of wastewater reuse potential in Beijing”, Desalination, vol.212, pp.238–50.

Yang, J., 2009, “China’s water scarcity”, Journal of Environmental Management, Vol.90, pp.3185–96.

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Yagi, M. and Managi, S., “Catch Limits, Capacity Utilization and Cost Reduction in Japanese Fishery Management,” Agricultural Economics, vol.42(5), pp.577-592, 2011. doi:10.1111/j.1574-0862.2010.00533.x
邦題

「日本の漁業管理における漁獲制限、生産能力利用および費用削減」

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要旨

Japan’s fishery harvest peaked in the late 1980s. To limit the race for fish, each fisherman could be provided with specific catch limits in the form of individual transferable quotas (ITQs). The market for ITQs would also help remove the most inefficient fishers. In this article we estimate the potential cost reduction associated with catch limits, and find that about 300 billion yen or about 3 billion dollars could be saved through the allocation and trading of individual‐specific catch shares.
参考文献

Asche, F., Eggert, H, Gudmundsson, E., Hoff, A., Pascoe, S., 2008. Fisher’s behavior with individual vessel quotas—Over-capacity and potential rent five case studies. Mar. Policy 32, 920–927.

Clark, C.W., Munro, G.R., Sumaila, U.R., 2005. Subsidies, buyback, and sustainable fisheries. J. Environ. Econ. Manag. 50, 47–58.

Costello, C., Gaines, S.D., Lynham, J., 2008. Can catch shares prevent fisheries collapse? Science 321, 1678–1681.

Dervaux, B., Kerstens, K., Leleu, H., 2000. Remedying excess capacities in French surgery units by industry reallocations: The scope for short and long term improvements in plant capacity utilization. In: Blank, J. (Ed.), Public Provision and Performance: Contribution from Efficiency and Productivity Measurement. Elsevier, Amsterdam, pp. 121–146.

F¨are, R., Grosskopf, S., Kerstens, K., Kirkley, J., Squires, D., 2001. Assessing short-run and medium-run fishing capacity at the industry level and its reallocation. In: Johnston, R. S. Shriver, A. L., (Eds.), Microbehavior and Macroresults. Proceedings of the 10th Biennial Conference of the International Institute of Fisheries Economics and Trade, July 2000, Corvallis, Oregon, USA, International Institute of Fisheries Economics and Trade, Corvallis, pp. 10–14.

F¨are, R., Grosskopf, S., Kokkelenberg, E.C., 1989. Measuring plant capacity, utilization and technical change: A nonparametric approach. Int. Econ. Rev. 30, 655–666.

F¨are, R., Grosskopf, S., Lovell, C.A.K., 1994. Production Frontiers. Cambridge University Press, Cambridge.

FAO of the United Nations, 2008a. Fisheries Management: 3. Managing fishing capacity. FAO Technical Guidelines for Responsible Fisheries vol 4(3), FAO/21916/G. FAO, Rome.

FAO of the United Nations, 2008b. FishStat Plus, Fisheries and Aquaculture Information and Statistics Service, Global Aquaculture Production, 1950– 2005. FAO, Rome. Available at http://www.fao.org/fishery/topic/16073, accessed 8 April 2008.

FAO of the United Nations, 2003. Measuring capacity in fisheries. In: Pascoe, S., Gr´eboval, D., (Eds.), FAO Fisheries Technical Paper 445. FAO, Rome.

Felthoven, R.G., Morrison Paul, C.J., 2004. Multi-Output, Nonfrontier Primal Measures of Capacity and Capacity Utilization. Am. J. Agric. Econ. 86(3), 619–633.

Gordon, H.S., 1954. The economic theory of a common property resource: The fishery. J. Pol. Econ. 62, 124–142.

Holland, D., Gudmundsson, E., Gates, J., 1999. Do fishing vessel buyback programs work: A survey of the evidence. Mar. Policy 23(1), 47–69.

Holland, D.S., 2007, “Managing environmental impacts of fishing: Input controls versus outcome-oriented approaches, Int. J. Global Environ. Issues 72(3), 255–272.

Holland, D.S., Lee, S.T., 2002. Impacts of random noise and specification on estimates of capacity derived from data envelopment analysis. Eur. J. Oper. Res. 137, 10–21.

Johansen, L., 1968. Production Functions and the Concept of Capacity. Recherches R´ecentes sur la Fonction de Production, Collection ‘Economie Mathe’matique et Econometrie’, Namur, n8 (in French).

Kerstens, K., Vestergaard, N. and Squires, D., 2006. A short-run Johansen industry model for common-pool resources: Planning a fisheries’ industry capacity to curb overfishing. Eur. Rev. Agric. Econ. 33(3), 361– 389.

Kirkley, J.E., Squires, D., Alam, M.F., Ishak, H.O., 2003. Excess capacity and asymmetric information in developing country fisheries: The Malaysian purse seine fishery. Am. J. Agric. Econ. 85(3), 647–662.

Kirkley, J.E., Squires, D.E., 1988. A limited information approach for determining capital stock and investment in a fishery. Fishery Bull. 86(2), 339–349.

Macinko, S., Bromley, D.W., 2002. Who Owns America’s Fisheries? Center for Resource Economics, Island Press, Covello, CA.

Managi, S., Opaluch, J.J., Jin, D., Grigalunas, T.A. 2004. Technological change and depletion in offshore oil and gas. J. Environ. Econ. Manag. 47(2): 388– 409.

Ministry of Agriculture, Forestry and Fisheries of Japan (MAFF), 2008. Japan’s Concept of Individual Transferable Quotas. Ministry of Agriculture, Forestry and Fisheries of Japan, Tokyo. Available at http://www.jfa.maff.go.jp/suisin/yuusiki/dai5kai/siryo_18.pdf

Morrison, C., 1985. Primal and dual capacity utilization: An application to productivity measurement in the U.S. automobile industry. J. Bus. Econ. Stat. 3, 312–324.

Nelson, R., 1989. On the measurement of capacity utilization. J. Indus. Econ. 37, 273–286.

Organisation for Economic Co-operation and Development (OECD), 1998. Review of Fisheries in OECD Countries: Glossary. OECD Publishing, Paris.

Organisation for Economic Co-operation and Development (OECD), 2006. Financial Support to Fisheries: Implications for Sustainable Development. OECD Publishing, Paris.

Pascoe, S., Gr´eboval, D., Kirkley, J., Lindebo, E., 2004. Measuring and appraising capacity in fisheries: Framework, analytical tools and data aggregation. FAO Fisheries Circular No. 994, FIPP/C994(En).

Peters, W., 1985. Can inefficient public production promote welfare? J. Econ. 45, 395–407.

Statistics Department—Ministry of Agriculture, Forestry and Fisheries (MAFF), 2007. Annual Statistics of Fishery and Fish Culture 2006.

Statistics Department—Ministry of Agriculture, Forestry and Fisheries (MAFF), 2005a. The 11th (2003) Fisheries Census.

Statistics Department—Ministry of Agriculture, Forestry and Fisheries (MAFF), 2005b. Annual Statistics of Fishery and Fish Culture 2003.

Statistics Department—Ministry of Agriculture, Forestry and Fisheries (MAFF), 2005c. Statistical Survey Report on Fishery Management of 2003.

Takarada, Y., Managi, S., 2010. Resource Economics: Case Study for Fishery. Minervashobo Publisher, Tokyo.

Tingley, D., and Pascoe, S., 2005a. Factors affecting capacity utilisation in English Channel fisheries. J. Agric. Econ. 56(2), 287– 305.

Tingley, D., and Pascoe, S., 2005b. Eliminating excess capacity: Implications for the Scottish fishing industry. Mar. Resour. Econ., 20(4), 407– 424.

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藤井秀道, 八木迪幸, 馬奈木俊介, 金子慎治, 「国内製造業の環境技術特許と財務パフォーマンスの因果関係性分析」, 『環境科学会誌』, 環境科学会, vol.24(2), pp.114-122, 2011. doi:10.11353/sesj.24.114

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八木迪幸，馬奈木俊介，「エネルギー技術進歩の要因分析」，『計画行政』，日本計画行政学会，vol.31(2)，pp.79-84，2008a.

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八木迪幸，馬奈木俊介，「環境規制と技術イノベーション:SOx･NOxにおける特許分析」，『環境科学会誌』環境科学会，vol.21(1)，pp.3-15，2008b. doi:10.11353/sesj1988.21.3

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馬奈木俊介，八木迪幸，「CSRと企業評価に関する分析」，『環境科学会誌』，環境科学会，vol.21(3)，pp.235-238，2008c. doi:10.11353/sesj1988.21.235

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2. 査読無し論文

八木迪幸, 國部克彦, “Introductory analysis of sustainable production: Factors of corporate social responsibitily management in Japan,” 神戸大学大学院経営学研究科ディスカッション・ペーパー, 2017-19, 2017. https://www.b.kobe-u.ac.jp/paper/2017_19.html
八木迪幸, 國部克彦, “Introductory analysis of sustainable production in Southeast Asia and Japan: Corporate disclosure, green purchasing, and macro situation,” 神戸大学大学院経営学研究科ディスカッション・ペーパー, 2016-13, 2016. https://www.b.kobe-u.ac.jp/paper/2016_13.html
周博文, 八木迪幸, 國部克彦, “An empirical examination of how the corporate governance and strategy affect GHG emissions efficiency,” 神戸大学大学院経営学研究科ディスカッション・ペーパー, 2015-27, 2016. https://www.b.kobe-u.ac.jp/paper/2015_27.html
沈宇辰, 呉綺, Mahammod Tazul Islam, 八木迪幸, 國部克彦, “How do firms’ climate-related management and strategy affect climate change risks and opportunities awareness?” 神戸大学大学院経営学研究科ディスカッション・ペーパー, 2015-26, 2016. https://www.b.kobe-u.ac.jp/paper/2015_26.html
Mai Huong Hoang, Mohammad Tazul Islam, 八木迪幸, 國部克彦, “Determinants of the efficiency of CDM and JCM projects: Viewing from financial and environmental outcomes” 神戸大学大学院経営学研究科ディスカッション・ペーパー, 2015-25, 2016. https://www.b.kobe-u.ac.jp/paper/2015_25.html
Lara Makowski, 呉綺, 八木迪幸, 國部克彦, “Does corporate environmental performance change through environmental policies between pre and post 2011? Evidence from firm-level data in Germany and Japan,” 神戸大学大学院経営学研究科ディスカッション・ペーパー, 2015-24, 2016. https://www.b.kobe-u.ac.jp/paper/2015_24.html* Sun Xichen, Michiyuki Yagi, Katsuhiko Kokubu, “Expand the horizon: an empirical study of sustainable supply chain management and firm performance,” Proceedings of Annual Meeting of Environmental Systems Research (土木学会環境システム研究論文発表会講演集), vol. 42, pp.211-218, 2014. https://www.b.kobe-u.ac.jp/paper/2014_30.html
Kohei Matsumoto, Michiyuki Yagi, Katsuhiko Kokubu, “Why Should Companies Implement Environmental and Social Policies?” Proceedings of Annual Meeting of Environmental Systems Research, vol. 42, pp.219-230, 2014. https://www.b.kobe-u.ac.jp/paper/2014_29.html
Honami Sakaguchi, Michiyuki Yagi, Katsuhiko Kokubu, “How do firms disclose environmental information on climate change in aspects of both business risks and opportunities?” Proceedings of Annual Meeting of Environmental Systems Research, vol. 42, pp.237-244, 2014. https://www.b.kobe-u.ac.jp/paper/2014_31.html
Oksana Arshynnikova, Michiyuki Yagi, Katsuhiko Kokubu, “The Role of Environmental, Social and Governance Initiatives in Securing Employee Retention,” Proceedings of Annual Meeting of Environmental Systems Research, vol. 42, pp.245-254, 2014. https://www.b.kobe-u.ac.jp/paper/2014_32.html
Qi Wu, Michiyuki Yagi, Katsuhiko Kokubu, “The characteristics of corporate governance driving Environment Social Governance disclosure: In Energy & Utility Industry in Four Regions,” Proceedings of Annual Meeting of Environmental Systems Research, vol. 42, pp.255-266, 2014.
Yagi, M. and S. Managi, “Competition and innovation: an inverted-U relationship using Japanese industry data”, RIETI Discussion paper, 13-E-62, 2013. http://www.rieti.go.jp/jp/publications/summary/13070005.html
馬奈木俊介，八木迪幸，「日本漁業における費用削減の可能性：Catch Limitの実証分析」，『日本水産学会誌』, 日本水産学会, vol.75(6), pp.1079-1080，2009. doi:10.2331/suisan.75.1079

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3. 著書等

八木迪幸, 馬奈木俊介, 「第5章新国富（Inclusive Wealth）における多様な資本の連関」, 佐藤真久, 北村友人, 馬奈木俊介(編), 『SDGs時代のESDと社会的レジリエンス』, pp.121-154, 筑波書房, 2020.
- 別ページ（日本語版）
- English translation（英語版）
- ダウンロード (PDF)
  
  [日本語] http://hdl.handle.net/10091/00022101
  
  [英語翻訳] http://hdl.handle.net/10091/00022102
- 購入（書籍版）
  
  https://www.hanmoto.com/bd/isbn/9784811905716
要旨

本章では，新国富について概要を説明し，新国富の3つの資本，人工資本，人的資本，自然資本の推計値に基づき，日本を中心に分析を行った。分析内容としては，新国富の総額，一人当たり指標，生産性（付加価値÷新国富）という3つの指標を紹介した。具体的な分析内容としては，全世界の1990年と2014年の比較（3節），日本の新国富（3節），日本とG7の比較（4節），都道府県別の新国富（5節），南海トラフ地震による被害との関連性（6節）を検証した。
- キーワード：新国富（Inclusive Wealth），人工資本・人的資本・自然資本，新国富生産性，総額・一人当たり指標・生産性指標，南海トラフ地震の被害分析
- JEL codes: E01, O11, O40, Q01
八木迪幸，馬奈木俊介，「序章本書の経済成長と技術進歩に関する背景と目次紹介」，馬奈木俊介編『環境・エネルギー・資源戦略―新たな成長分野を切り拓く』, pp.1-16, 日本評論社, 2013.

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八木迪幸，馬奈木俊介，「第4章日本の漁業における費用削減の可能性」，寶多康弘，馬奈木俊介編『資源経済学への招待―ケーススタディとしての水産業』, pp.79-92, ミネルヴァ書房, 2010.

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4. 学位論文

Yagi, M., “Efficiency Analysis of Technology in Japanese Industries”, The Course of Regional Environment and Socio-Cultural Studies, Graduate School of Environmental Studies, Tohoku University, 2013.

5. 学会発表 (○：発表者)

5.1 国際学会発表

○Yagi, M. and S. Managi, “Cost Reduction and Capacity Output of Fishery Management in Japan”, The 1st congress of the EAAERE, Hokkaido University, Aug 18, 2010.
○Yagi, M. and S. Managi, “Resource Management and Capacity Utilization in Japan’s fishing industry”，R'09 Twin World Congress and World Resources Forum Nagoya, Japan, Sep, 2009.

5.2 国内学会発表

○八木迪幸, 馬奈木俊介, 「COVID-19による国際供給制約」, 『環境経済・政策学会2020年大会』, Web開催, 2020年9月26-27日.

要旨 (Dropbox) Researchmap
○八木迪幸「企業の環境パフォーマンスと財務評価の関係解析に関する研究」, 『環境科学会2020年大会』, Web開催, 2020年9月19-20日（招待講演）.

WEB動画 (vimeo) スライド資料 (Dropbox) 要旨 (Dropbox) Researchmap
○八木迪幸, 加河茂美, 馬奈木俊介, 藤井秀道, Dabo Guan,「地震の被災額推計: 産業連関分析による消費者余剰の損失評価」, 『環境経済・政策学会2019年大会』, 福島大学, 2019年9月28-29日.

要旨 (Dropbox) Researchmap
○八木迪幸, 國部克彦, 「生産側からの持続可能な消費と生産フレームワーク：タイとベトナムへの適用」, 『環境科学会2019年大会』, 名古屋大学, 2019年9月13-14日.

要旨 (Dropbox) Researchmap
○八木迪幸, 國部克彦, 「マテリアルフローコスト会計のための廃棄物分解分析」, 『環境経済・政策学会2018年大会』, 上智大学, 2018年9月.

要旨 Researchmap
○八木迪幸, 馬奈木俊介, 「特許ストックのシャドウプライスと生産性」, 『環境経済・政策学会2017年大会』, 高知工科大学, 2017年9月.

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○八木迪幸, 馬奈木俊介, “Demand elasticity in automobile industry in Japan”, 『環境経済・政策学会2016年大会』, 青山学院大学, 2016年9月.
八木迪幸, 馬奈木俊介, “Demographic determinants of aged car ownership between 1980 and 2009 in Japan”, 『環境経済・政策学会2015年大会』, 京都大学, 2015年9月.
○呉綺, 八木迪幸, 國部克彦, “Does corporate environmental performance change through environmental policies between pre and post 2011? Evidence from firm-level data in Germany and Japan”, 『環境経済・政策学会2015年大会』, 京都大学, 2015年9月.
○沈宇辰, 呉綺, イスラムタズル, 八木迪幸, 國部克彦,, “How do firms’ climate-related management and strategy affect climate change risks and opportunities awareness?”, 『環境経済・政策学会2015年大会』, 京都大学, 2015年9月.
周博文, ○八木迪幸, 國部克彦, “An empirical examination of how the corporate governance and strategy affect GHG emissions efficiency”, 『環境経済・政策学会2015年大会』, 京都大学, 2015年9月.
○Islam, M.T., M.H. Hoang, 八木迪幸, 國部克彦, 「Determinants of the efficiency of CDM and JCM projects: Viewing from financial and environmental outcomes”, 『環境経済・政策学会2015年大会』, 京都大学, 2015年9月.
○八木迪幸, 孫希辰, 國部克彦, “持続可能なサプライチェーンマネジメントと企業業績に関する実証分析”, 『第10回LCA学会研究発表会』, 神戸大学, 2015年3月.
○Sun Xichen, Michiyuki Yagi, Katsuhiko Kokubu, “Expand the horizon: an empirical study of sustainable supply chain management and firm performance,” 『土木学会第42回環境システム研究論文発表会』, 産業技術総合研究所-つくば中央共用講堂, 2014年10月.
○Kohei Matsumoto, Michiyuki Yagi, Katsuhiko Kokubu, “Why Should Companies Implement Environmental and Social Policies?” 『土木学会第42回環境システム研究論文発表会』, 産業技術総合研究所-つくば中央共用講堂, 2014年10月.
○Honami Sakaguchi, Michiyuki Yagi, Katsuhiko Kokubu, “How do firms disclose environmental information on climate change in aspects of both business risks and opportunities?” 『土木学会第42回環境システム研究論文発表会』, 産業技術総合研究所-つくば中央共用講堂, 2014年10月.
○Oksana Arshynnikova, Michiyuki Yagi, Katsuhiko Kokubu, “The Role of Environmental, Social and Governance Initiatives in Securing Employee Retention,” 『土木学会第42回環境システム研究論文発表会』, 産業技術総合研究所-つくば中央共用講堂, 2014年10月.
○Qi Wu, Michiyuki Yagi, Katsuhiko Kokubu, “The characteristics of corporate governance driving Environment Social Governance disclosure: In Energy & Utility Industry in Four Regions,” 『土木学会第42回環境システム研究論文発表会』, 産業技術総合研究所-つくば中央共用講堂, 2014年10月.
○八木迪幸, 藤井秀道, 國部克彦, Vincent Hoang, 馬奈木俊介, “Estimation of environmental efficiency of energy, materials and emissions using FDH”, 『環境経済・政策学会2014年大会』, 法政大学, 2014年9月.
○八木迪幸, Dabo Guan, Jun Li, 加河茂美, 馬奈木俊介, “東日本大震災が地域経済に与えた影響 The impact of 3.11 Tohoku Earthquake on Regional Economy in Japan”, 『環太平洋産業連関分析学会2013年大会』, 中京大学, 2013年10月.
○八木迪幸, 馬奈木俊介, “Effects of gasoline prices and car-ownership taxes on the auto fleet in Japan”, 『環境経済・政策学会2013年大会』, 神戸大学, 2013年9月.
○八木迪幸, 馬奈木俊介, “Competition and Innovation in Japan”, 『環境経済・政策学会2012年大会』, 東北大学, 2012年9月.
○藤井秀道, 八木迪幸, 馬奈木俊介, 金子慎治, 「国内製造業の環境技術特許と財務パフォーマンスの因果関係性分析」, 『環境科学会2010年会』, 東洋大学，2010年9月.
馬奈木俊介，○八木迪幸，「資源管理による費用削減の可能性」，『環境経済・政策学会2009千葉大会』，千葉大学，2009年9月．
○馬奈木俊介，八木迪幸，「日本漁業の効率性分析：費用削減の可能性」，『平成21年度日本水産学会春季大会』, 東京海洋大学，2009年3月．
○八木迪幸，馬奈木俊介，「エネルギー技術とR&Dの因果性分析」，『環境科学会2008年会』，東京，2008年9月．
○八木迪幸，馬奈木俊介，「環境規制と技術イノベーション:SOx･NOxにおける特許分析」，『環境経済・政策学会2007滋賀大会』，滋賀大学，2007年10月．
金子慎治，馬奈木俊介，金原達夫，藤井秀道，伊藤豊，○八木迪幸，「環境経営の経済性への影響分析」，『環境科学会2006年会』，上智大学，2006年9月．

5.3 国内学会：ポスターセッション

○八木迪幸，馬奈木俊介，「エネルギー技術とR&Dの因果性分析」，『環境科学会2008年会』，東京，2008年9月．

6. 賞罰・研究費獲得状況など

令和3-7年度, 日本学術振興会基盤研究C「ESG投資モデルの開発」(課題番号21K01698)
令和2年度, 環境科学会・奨励賞「企業の環境パフォーマンスと財務評価の関係解析に関する研究」
平成29-32年度, 日本学術振興会若手研究B「環境技術革新の指標開発と要因分析」(課題番号17K12856)
平成28-30年度, 環境研究総合推進費S16テーマ2サブテーマ2「アジアにおける企業の環境経営モデルの展開とステークホルダーによる導入支援方策」（研究代表者國部克彦）研究分担者
平成26-28年度, 日本学術振興会若手研究B「環境効率に着目した自動車保有のコホート分析」(課題番号26740054)
平成23年度, 日本学術振興会特別研究員社会科学DC2採用 (23-3420)
平成22年度, 「環境技術の革新とマネジメント」, 財団法人損保ジャパン環境財団学術研究助成採用
平成21年度, 独立行政法人日本学生支援機構「特に優れた業績による返還免除」採用
平成21年度, 横浜国立大学経営学会賞優秀賞「広義のM&Aの財務パフォーマンス分析」
平成19年度, 横浜国立大学経営学会賞佳作「CSR 経営の評価と技術イノベーション」
八木迪幸, 高橋伸, 川合章喜子, 2006, 第3回神奈川産学チャレンジプログラム努力賞, 東京電力(株)「地球温暖化防止に向けた電力会社の取り組みについての提言」

7. 授業歴

環境経済学特講, 信州大学大学院，総合人文社会科学研究科 (2020-21年度・後期)
オペレーションズリサーチ入門, 信州大学経法学部 (2020-21年度・後期)
環境経済学I, 信州大学経法学部 (2018-21年度・後期)
環境経済学Ⅱ, 信州大学経法学部 (2019-21年度・前期)
新入生ゼミナールI, 信州大学経法学部 (2020-21年度・前期)
新入生ゼミナールII, 信州大学経法学部 (2018年度・後期)
経済学演習II・卒業論文, 信州大学経法学部 (2018年度・後期)
Project Research: Sustainability Alliance Management, 神戸大学大学院SESAMIプログラム (2014-2017年度・前期）
Research Seminar, 神戸大学大学院SESAMIプログラム (2017年度・後期）
Environmental Economics and Management, 神戸大学大学院SESAMIプログラム (2014-2018年度・前期）
外国書購読, 神戸大学経営学部 (2015年度後期、2016年Q3-Q4. 2017年Q3-Q4）
Environmental Management, 東北大学大学院環境科学研究科 (2013年4月26日).

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研究業績 2023.1.5

研究業績一覧 (2021年1月14日現在)（※クリックで展開）

1. 査読有り論文

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2. 査読無し論文

3. 著書等

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4. 学位論文

5. 学会発表 (○：発表者)

5.1 国際学会発表

5.2 国内学会発表

5.3 国内学会：ポスターセッション

6. 賞罰・研究費獲得状況など

7. 授業歴