The Journal of Science Policy and Research Management
Online ISSN : 2432-7123
Print ISSN : 0914-7020
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Showing 1-9 articles out of 9 articles from the selected issue
  • Kazumasa IWATA
    2019 Volume 34 Issue 4 Pages 342-343
    Published: December 27, 2019
    Released: January 29, 2020

    Since 2008 blockchain technology has been developed not only for the financial sector, but also for logistics, energy, supply chain, identity certification, health and medical records and other fields.

    The most prominent of the many application fields is the financial sector. There, blockchain is applied not only to payments, but also to securities and derivatives, trade finance and crypto-asset finance. Among others, the most important is its effect on the financial system architecture. The innovation by FinTech transforms the financial system from "bank-centric system" to "payment-centric system." This new system will build "digital economic area" based on its own network without being restricted by borders. Even more striking is the announcement of Facebook's Libra publication plan. Libra is a "stable coin" issued by the private sector, which may become "world synthetic currency" supported by reserve assets denominated in different currencies. Libra will promote the digital currency issuance by central banks.

    Remaining issues in blockchain technology may include the scalability, the enormous power consumption required for calculations, interoperability between different blockchains and networks, and privacy protection.

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Special Issue
  • Kazunari MATSUSHIMA, Yaichi AOSHIMA, Naoki TAKADA
    2019 Volume 34 Issue 4 Pages 423-439
    Published: December 27, 2019
    Released: January 29, 2020

    This paper explored the factors leading to the success of publicly-funded private R&D projects by analyzing survey data obtained from 506 projects supported by NEDO (New Energy and Industrial Technology Development Organization). We particularly examined how involvement of both the funded firm and the funding organization in the project affects the project's commercialization performance.

    Our analyses showed that the project with higher strategic importance and stronger executive's involvement tended to be successful since it enabled the project to effectively leverage company's internal resources. On the other hand, funding organization's involvement had positive effects on performance only when the company showed low commitment to and weak involvement of the project; it had no or rather negative effect on performance with higher commitment and involvement in the company side.

    Our findings suggest that the success or failure of the publicly-funded private R&D is greatly related to the strategic position of the project within the company. This implies that the assessing the company's in-house factors besides potentials of the technologies is important in selecting funding projects, and that the funding organization should find an appropriately way of managin g the project depending on project's strategic position.

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