Research achievement 2023.1.5

Full list (as of Jan 14, 2021) (* click to expand)

1. Peer-reviewed papers

• 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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  Abstract

  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

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  Abstract

  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

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  ScienceDirect.com MPRA [DiscussionPaper] Researchmap

  Abstract

  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

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  Wiley Online Library MPRA [DiscussionPaper] Researchmap

  Abstract

  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.

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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

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  Abstract

  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.

  References

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  • Schmidt, A., Götze, U., Sygulla, R., 2015. Extending the scope of Material Flow Cost Accounting – methodical refinements and use case. Journal of Cleaner Production 108, 1320–1332. doi:10.1016/j.jclepro.2014.10.039
  • Schmidt, M., 2015. The interpretation and extension of Material Flow Cost Accounting (MFCA) in the context of environmental material flow analysis. Journal of Cleaner Production 108, 1310–1319. doi:10.1016/j.jclepro.2014.11.038
  • Sulong, F., Sulaiman, M., Norhayati, M.A., 2015. Material Flow Cost Accounting (MFCA) enablers and barriers: the case of a Malaysian small and medium-sized enterprise (SME). Journal of Cleaner Production 108, 1365–1374. doi:10.1016/j.jclepro.2014.08.038
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  • Zhou, Z., Zhao, W., Chen, X., Zeng, H., 2017. MFCA extension from a circular economy perspective: Model modifications and case study. Journal of Cleaner Production 149, 110–125. doi:10.1016/j.jclepro.2017.02.049

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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

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  Abstract

  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

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  Abstract

  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.

  References

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  • Dargay, J.M., 2002. Determinants of car ownership in rural and urban areas: a pseudo-panel analysis. Transportation Research Part E: Logistics and Transportation Review 38 (5), 351–366. doi:10.1016/S1366-5545(01)00019-9
  • de Jong, G., Fox, J., Daly, A., Pieters, M., Smit, R., 2004. Comparison of car ownership models. Transport Reviews 24 (4), 379–408. doi:10.1080/0144164032000138733
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  • Whelan, G., 2007. Modelling car ownership in Great Britain. Transportation Research Part A: Policy and Practice 41 (3), 205–219. doi:10.1016/j.tra.2006.09.013

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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

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  Abstract

  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.

  References

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  • Acs, Z.J., and D.B. Audretsch, 1988b, “Testing the Schumpeterian Hypothesis,” Eastern Economic Journal, Vol.14 (2), pp.129−140. < http://www.jstor.org/stable/40325184>
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  • Blundell, R., R. Griffith, and J.V. Reenen, 1999, “Market Share, Market Value and Innovation in a Panel of British Manufacturing Firms,” The Review of Economic Studies, Vol. 66 (3), pp. 529−554. doi: 10.1111/1467-937X.00097
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  • Ijichi, H, T. Iwasa, H. Odagiri, H. Keira, T. Koga, A. Goto, Y. Tawara, A. Nagata, and Y. Hirano, 2010, “Report on Japanese National Innovation Survey 2009,” Ministry of Education, Culture, Sports, Science and Technology, National Institute of Science and Technology Policy [Japanese]. http://hdl.handle.net/11035/657
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  • Laursen, K., 2012, “Keep searching and you’ll find: what do we know about variety creation through firms’ search activities for innovation?” Industrial and Corporate Change, Vol. 21 (5), pp.1−40. doi:10.1093/icc/dts025
  • Lind, J.T., and H. Mehlum, 2010, “With or Without U? The Appropriate Test for a U-Shaped Relationship,” Oxford Bulletin of Economics and Statistics, Vol.72 (1), pp.109−118. doi: 10.1111/j.1468-0084.2009.00569.x
  • Motohashi, K., 2004, “Chapter 2. Japan’s patent system and business innovation: reassessing pro-patent policies,” In OECD (Eds.), Patents, Innovation and Economic Performance, OECD Conference Proceedings, pp. 53−82. doi:10.1787/9789264015272-en
  • Motohashi, K., 2011, “Innovation and Entrepreneurship: A first look at linkage data of Japanese patent and enterprise census”, RIETI Discussion Paper Series 11-E-007. http://www.rieti.go.jp/en/publications/summary/11020005.html
  • Motohashi, K., 2012, “Open Innovation and Firm’s Survival: An empirical investigation by using a linked dataset of patent and enterprise census”, RIETI Discussion Paper Series 12-E-036. http://www.rieti.go.jp/en/publications/summary/12050018.html
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  • Patel, P. and K. Pavitt, 1997, “The technological competencies of the world’s largest firms: Complex and path-dependent, but not much variety,” Research Policy, Vol. 26 (2), pp. 141−156. doi:10.1016/S0048-7333(97)00005-X
  • Sakakibara, M. and L. Branstetter, 2001, “Do Stronger Patents Induce More Innovation? Evidence from the 1988 Japanese Patent Law Reforms,” The RAND Journal of Economics, Vol. 32 (1), pp. 77−100. http://www.jstor.org/stable/2696399
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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

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  Abstract

  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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  • Cazals, C., Florens, J.P., Simar, L., 2002. Nonparametric frontier estimation: A robust approach. Journal of Econometrics, 106 (98), 1–25. doi:10.1016/S0304-4076(01)00080-X
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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.

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  Abstract

  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.

  References

  • 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.
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  • 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.
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  • 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.
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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

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  Abstract

  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.

  References

  • 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.

  </div>
  

• 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

  J-STAGE Researchmap
• 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.

  Researchmap ダウンロード 国立国会図書館サーチ
• 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

  J-STAGE Researchmap
• 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

  J-STAGE Researchmap

2. Discussion papers (non peer-reviewed)

• 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

  J-STAGE Researchmap

3. Books etc.

• Yagi, M., and Managi, S., 2020, Chapter 5. Various Capital Linkages in Inclusive Wealth: In Sato, M., Kitamura, Y., and Managi, S. (Eds.), ESD and Social Resilience in the SDGs Era, pp.121–154, Tsukuba-shobo, Tokyo. [Japanese]

  • English translation
  • 日本語原本 (Japanese original version)
  • Download (PDF)
    • [Japanese original] http://hdl.handle.net/10091/00022101
    • [English translation] http://hdl.handle.net/10091/00022102
  • Purchase (book edition)
    • https://www.hanmoto.com/bd/isbn/9784811905716
  • [Citation (Japanese)]
    • 八木迪幸, 馬奈木俊介, 2020, 「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, 東京.

  Abstract

  This chapter put forward an outline of inclusive wealth (IW) and carried out its analysis mainly in terms of Japan based on the estimated values of the three facets of IW capital: produced capital (PC), human capital (HC), and natural capital (NC). As an analysis of its contents, there are three indexes of IW, which are the total amount, the per-capita index, and productivity (i.e., value added divided by IW). As for the specific contents, it verified a comparison between 1990 and 2014 for the whole world (Section 3), for the IW of Japan (Section 3), a comparison between Japan and G7 (Section 4), a look at the IW by prefecture (Section 5), and the relevance of IW to measuring the damage due to the Nankai Trough earthquake (NTE) (Section 6).

  • Keywords: Inclusive wealth; produced, human, and natural capitals; inclusive wealth productivity; total amount index, per-capita index, and productivity index; damage analysis of Nankai Trough earthquake.
  • 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.

  Researchmap
• 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.

  Researchmap

4. Doctoral dissertation

• 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. Conference presentations (○：Presenter)

5.1 International conference presentations

• ○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 Domestic conference presentations in Japan

• ○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.

  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.
• ○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 Domestic poster presentations in Japan

• ○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. Research funds & rewards (etc.) [in Japanese]

• 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. Educational experience [in Japanese]

• 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).