企業の

(本論文は第59回2023年度夏季JAFEE大会（成城大学）での発表を発展させた内容を含む．)

本稿では, 企業の IR 戦略の一つであるパブリックな情報公開の効果を検証する. 企業のIR 活動は自社への投資呼び込みを目的として行なわれている. 決算報告会は主要な IR 活動の一つだが, 企業間で時期が重複しやすく, 投資家の参加が分散してしまうことで機会損失を生じるという課題がある. この損失を埋める目的で, 一部の企業は決算報告会の内容を書き起こしたテキストをウェブ上のプラットフォームや自社 HP で一般公開し, 情報へのアクセシビリティを高めている. しかし, 実際にこのような情報公開が投資家の関心を惹きつけ, 投資の呼び込みを促す効果があるかについては未だ検証されていない. ここでは, このような企業の情報開示戦略の変化と株式の出来高の変化の関連を重回帰分析によって評価し, その効果検証を試みる.

At the industrial park aiming for RE100 in Ishikari City, plans are underway to supply renewable energy by self-employed lines. Drawing a self-employed line is effective for disaster countermeasures, and needs are increasing, but it is unclear how much social cost is tolerated. In this study, we attempted to evaluate the cost-effectiveness and resilience of self-owned lines, and found that the cost of installing self-owned lines in Ishikari City is about 17 billion yen, while the damage to the data center over the next 30 years is 4.3 billion yen.

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 The purpose of this paper is to discuss the problems posed to platform (PF) firms by the myopic pursuit of scale in the PF business from the perspective of the inertia that acts on PF firms in response to changes in the external environment, such as the shift in generic technology and the emergence of substitute products. Specifically, this paper examines the question of why and by what process PF firms in the information market, once having secured a sufficient number of users and complements (content) in the market, eventually end up losing users and revenue. In this paper, a case study is conducted to analyze Cookpad, a consumer-generated media (CGM)-type PF business, and a video recipe service provider that is new to the market in the online cooking recipe service market.

 The case analysis pointed out the existence of the following two types of inertia as problems that arise when PF firms try to expand their scale of business in response to the environmental change of increasing demand for video recipe services brought about by changes in generic technology. In other words, this paper suggests that two types of inertia, (1) the cognitive inertia of management and (2) inertia due to accumulated capabilities, may have worked against Cookpad and prevented the company from adapting to the changing environment. This indicates that the inertia created by the myopic pursuit of business scale by PF firms with market positions may delay adaptation to any changes in the environment and actually create a gap in the market that allows other parties to take advantage. For PFs with a market position, complements to their strengths can be a cognitive constraint for new business development. In particular, it is difficult to manage the content contribution activities of complements in the information market PF. Therefore, problems may occur in PF when scale is expanded.