2000 年 7 巻 p. 121-131
It is important to analyze the relationship between the R&D investment and financing and the role of institutional investors for the company's continuous growth. The concept of fiduciary helps us to understand the institutional investors' professional ethics. This study assumes fiduciary is the key concept for the institutional investors to do their duties and responsibilities, and to control their abuses of power. It is needed for the institutional investors to make a decision independently of the decision of bureaucracy or the rule of organizations to do the social responsibilities.