This study aims to identify the effect of a firm’s external resources on the relationship between within-industry diversification and firm performance. While previous within-industry diversification studies focused on the moderating effects of in-house resources on within-industry diversification and firm performance, these studies demonstrated mixed results suggesting another factor, which is not known yet. Our study identifies the effects of the degree of maturity on within-industry diversification, and the moderating effects of external resources on the within-industry diversification and firm performance.

 Using data from software vendor firms in the Japanese console game industry, consisting of 756 firm-year observations from 1997–2016, the results of our study are as follows: (1) We found the degree of maturity as a boundary condition of within-industry diversification and firm performance. Previous studies suggest that within-industry diversification and firm performance have a U-shaped relationship, but in the Japanese console game industry, within-industry diversification and firm performance show a negative relationship. This can be explained by the fact that the degree of maturity of within-industry diversification in the console game industry is low, and unlike prior research, the economy of scope is not exhibited, and negative transfer effects and transfer costs are affected. (2) External resources had a positive moderating effect on the relationship between within-industry diversification and firm performance; the use of external developers reduces negative transfer effects and transfer costs, thus mitigating the negative relationship between within-industry diversification and firm performance.

 Scholars uncover wide varieties of influences of organizational slack on organizational outcomes, while antecedents of organizational slack are left underexamined. Given a recent call for properly addressing the possibility that the amount of organizational slack is endogenously determined, it is of theoretical as well as practical importance to deepen our understanding of antecedents of organizational slack so that we can employ relevant and valid instruments for organizational slack.

 In empirical analysis 1, we examined antecedents of organizational slack in the context of the Japanese electronics industry. Five antecedents, including GDP growth, Industry beta, the Great East Japan Earthquake, Organizational age, and Tobin's q, are statistically shown to be significantly associated with unabsorbed slack.

 In empirical analysis 2, we examined associations between R&D intensity and organizational slack under an assumption that organizational slack is exogenous, as well as an alternative assumption that organizational slack is endogenous. Endogeneity of organizational slack is taken into consideration by employing Industry beta, the Great East Japan Earthquake, as well as Organizational age, as instruments for unabsorbed slack, whose relevance and validity are statistically warranted. It is also statistically shown that unabsorbed slack is endogenously determined. Our results show that the association between R&D intensity and organizational slack as an exogenous variable is curvilinear (inverted U-shaped), while the association between R&D intensity and organizational slack as an endogenous variable is positive and linear.

 Our findings show a critical importance to take into account endogeneity of organizational slack when one tries to examine influences of organizational slack on organizational outcomes. Otherwise, observed results may be substantially biased. Continuous efforts to uncover antecedents of organizational slack should be our first step toward more precise analyses of influences of organizational slack as an endogenously determined variable.

 What value can startups derive from investment by non-financial companies? It has been revealed that venture capital (hereinafter VC) provides not only capital but also various supports for early growth of startups (Carpenter and Petersen, 2002). Financial companies including banks are also analyzed as the source of capital for startups, especially in terms of their differences from VC (Winton and Yerramilli, 2008; Marcus et al, 2013). In addition, the importance of open innovation is increasing (Chesbrough, 2003). Because of non-financial company’s benefits by collaborating with startups, the investment ratio of non-financial companies is still high. However, the impact caused by non-financial companies on the growth of startups has not been fully clarified in previous research. Based on the institutional logic and the resourced-based view, this study analyzed the impact caused by non-financial companies as well as VC and financial companies on initial public offerings (hereinafter IPOs) of startups.

 This study analyzes the data of startups that went public on the Japanese stock exchange from 2007 to 2009. The dependent variable is the period up to IPO, which is an indicator of the speed of growth of startup. The independent variables are the investment ratios of five types of investors before IPO, non-financial companies, financial companies, corporate venture capital (hereinafter CVC) by non-financial companies, CVC by financial companies and independent VC, which are indicators of impact caused by investors. As a result, it is confirmed that the period until IPO is shortened when the investment ratio of non-financial company is high. This means that the growth of the startup up to IPO was promoted earlier because of the investment by non-financial companies. The contribution of this research is that it has clarified the impacts for the growth of startup caused by non-financial companies, under the situation with several types’ investors.

 This study examines the effects of future competitive relationships on corporate cooperative behavior when competitors aim to cooperate to achieve common interests. It is difficult for competitors to maintain cooperation because these firms also have a motivation to act opportunistically at the same time. Previous studies examine the conditions for maintaining cooperation by considering the choice between cooperation and competition and the factors that affect the degree of cooperation and competition.

 However, when cooperation and competition exist simultaneously, they interact. Therefore, it is not possible to determine the conditions for maintaining cooperation without considering the interaction between them. In particular, it is important to examine the impact of the future competitive relationships that firms assume when they currently engage in cooperative behavior. This is because firms face the possibility of competing with partner firms with which they should cooperate. Firms, therefore, make decisions on current cooperation considering the impact on their competitive advantage in the future.

 This study analyzes the case of tacit collusion in the Japanese cement industry from 1998 to 2007 and examines the influence of future competitive relationships on the current cooperative behavior. Thus, if a firm trying to cooperate with competitors can gain some benefit from doing so at that time, but thinks cooperation will negatively impact its competitive advantage in the future, the firm may not take cooperative action.

 With this in mind, it is necessary for firms that seek cooperation with competitors to consider whether or not their actions affect not only their own competitive advantage, but also that of the other firms that should build cooperation.

 This paper aims to investigate the effect of deviant inventors on producing novel invention. So far, many studies have suggested the existence and merits of research and development activities without formal organizational support. However, with a few exceptions, the antecedent factors and effects of deviant behavior have not been sufficiently distinguished.

 Using data of patents applied by Nippon Telegraph and Telephone Corporation (NTT) we investigated the relationship between inventors “degree of deviation” and “novelty of invention”. As a result, we showed the inverted U-shape relation between inventors “degree of deviation” and “novelty of invention”. That is, outputs of inventors with moderate deviation are likely to be more novel than those of inventors with low/high deviations. On the other hand, inventors with a high degree of deviation are prone to produce rather incremental invention. This result can be interpreted as the problem of resource availability, which means that deviant inventors cannot enjoy the advantage which is able to gain in official projects.

 This finding contributes to the research stream on inventor’s deviance from two perspectives. The first is that this research indicates the importance of focusing on “the degree of deviation”. As suggested by previous studies, we should grasp various types of deviance behavior. Second is that this study may update our knowledge about the impact of inventor’s deviance. Although previous studies expect deviant inventors to be the source of technological breakthroughs, this study suggests the limitation on such arguments.

 This research is an empirical study that investigates and verifies the role played by user interaction in the process of creating highly competitive online content. Using online platforms, an unspecified number of users generate a variety of content, including text, software, animation, illustrations, and music. In recent years, this content has not only been held within the communities but also sold in the market. It is now common for some amateur content to gain market competitiveness equal to or better than professionally created content. We examine the influence of interaction between users on the quality and creation pace of content during the content creation process. To answer this question, we explored the Japanese light novel market and tested the mechanism of high-quality content generation on an online platform. Based on previous research, we divided the generation mechanism of content (novels) online by “the reason for producing competitive and high-quality works” and “the reason for maintaining the user’s creation pace.” Then, we built the four hypotheses and used statistical analysis to prove them. Regarding the “effects of UGC (user-generated content) in the art field” mentioned in the previous research, we found it was difficult to improve the quality of a novel through the exchanging of opinions between users, as the novels contain many subjective factors. On the other hand, our results showed that even before a novel was put onto the market, the platform could predict the future popularity of it. We also proved that qualitative information such as user comments could motivate human behavior, compared with quantitative information, such as evaluation rates. Finally, we found that the online evaluation rate had a positive effect on content selection, and that the comment feature had a positive effect on the writer’s creative pace. Thus, developing mutually complementary functions of a platform is an important managerial practice to promote interaction between users and generate competitive UGC.

 This study considers the corporate philosophy of a company and attempts to verify the effect of organizational culture on corporate fraud through quantitative empirical analysis using text mining. The result of my empirical research using terms extracted by frequency analysis shows that companies with a stakeholder-oriented philosophy and a society-oriented philosophy have had reduced fraudulent activities. On the contrary, companies with a region-oriented philosophy have had an increase in fraudulent activities. The results of additional cluster analysis show that companies with social contribution and value creation philosophies have had a reduction in fraudulent activities. Companies with a philosophy of denying fraud do not show any significant fraudulent activities.

 The results of a quantitative empirical analysis indicate that corporate organizational culture may have an effect on corporate fraud. While previous research mainly analyzed the impact of governance systems on corporate fraud and recommended countermeasures, this research will make the following contributions. This study empirically shows that corporate culture can affect fraud. By using text mining of corporate philosophy as a proxy variable of organizational culture, the factors affecting corporate fraud were quantitatively analyzed. Further, it also empirically demonstrates what organizational cultures may have an effect.

 If corporate fraud is affected by organizational culture, simply changing corporate governance at the directorate level, such as to increase the total of outside directors is not enough to combat corporate fraud. I believe that the corporate culture of a company should be regarded as one of the governance mechanisms for the sustainable survival of the company.