2011 年の設備投資行動に関するアンケート調査において，多くの企業が投資評価技法として損益分岐点法や原価比較法をよく利用しているという発見があった。つまり，日本における投資評価技法は従来考えられていたものよりもさらに多様性があることが明らかになった。両技法の考え方と特徴を調べるために既存の文献を検討した。その結果，両技法には時間価値を加味したものとそうでないものが存在した。両技法の利用度データを使ってクラスター分析と相関分析を実施したところ，この2 つの評価技法は，単純回収期間法に近い技法であることや単純回収期間法と併用されることが多いことが判明した。 したがって，両技法の利用実態としては時間価値を加味しないままに利用されているものと推測される。

This paper explains firms' adoption of economic evaluation techniques according to differences in their business strategy and their business environment using mail survey data. Many recent studies focus only on the discount cash flow (DCF) methods, while our research examines the factors determining the use of non-DCF methods as well as DCF methods, and shows the rationality of their use. We discover that the use of non-DCF methods, such as payback method and accounting rate of return, is rational when the use of DCF methods is not valid. We find that business environment characteristics, such as (1) the complexity of the environment, (2) uncertainty, and (3) automation of the production line, affect the choice of the evaluation technique. Furthermore, we find that whether a firm's strategic type is an analyzer or not affects the adoption of the economic evaluation technique.

本研究は,事業戦略と資本予算プロセス(設備投資マネジメント)との整合性が企業業績にどのように影響しているかを実証的に分析した。全体として,戦略とマネジメントの整合性が成果変数である財務業績に結びつくことが明らかになった。特に,防衛型と探索型に整合的な設備投資マネジメントを行うことがそれらの企業の業績向上に結びつくことが明らかになった。

This paper examines the management process for each strategic type of firm (namely, Defenders, Prospectors, Analyzers, and Reactors) as a new way of analyzing capital budgeting from a managerial accounting perspective. Using a 2009 survey of Japanese manufacturing firms, we reveal the following. To start with, Defenders seldom search for new investment projects because they establish a stable status in a limited operation domain. Therefore, the principal purpose of capital investment in this strategic type is to improve cost competitiveness. As a result, Defenders develop the investment project in their own way, and then evaluate profitability thoroughly following implementation. In contrast, Prospectors continuously search for market opportunities, and evaluate and select projects in order to pioneer new product markets and profit opportunities. Thus, the main purpose of capital investment in this strategic type is to produce new products. Consequently, Prospectors emphasize profitability and timing in the development phase, and then carefully compare the alternative projects available. Finally, Analyzers carefully deliberate and decide upon the optimum timing of investment in order to seize upon market opportunities using their existing technology. As a result, this strategic type does not aggressively pursue capital investment.

Purpose-The paper aims to describe the changes in buyer-supplier relationships among Japanese companies at the early 2000s, focusing on two critical features
long-term relationships and information sharing. In particular, the paper investigates the relationship between benefits from information-sharing activities within buyer-supplier relationships and the stability of these relationships. Design/methodology/approach-The paper develops a questionnaire based on prior research related to Japanese companies and undertakes a questionnaire survey of 353 Japanese manufacturing companies (which belong to the machinery, electrical/electronics, transportation equipment, and precision industries) in 2002. Findings-Although Japanese companies have been considered to have close relationships with their partners, the paper finds only a small proportion of buyers were willing to share sensitive information with their suppliers and/or expected to continue long-term relationships with them. In addition, an examination of factors relating to buyers' performance shows that receiving benefits from inter-organizational information-sharing activities (attending suppliers' meetings, sending engineers to suppliers, and proposing cost saving ideas) could affect buyers' incentives to sustain long-term relationships with their suppliers. Originality/value-The paper provides empirical evidence of the changing nature of the buyer-supplier relationship in Japanese manufacturing companies. Specifically, the main contribution of this research is to provide empirical evidence indicating that the benefit from buyer-supplier relationships has an effect on the governance structure of these relationships. © Emerald Group Publishing Limited.

本稿では,質問票調査の結果をもとに経済性評価技法の選択を事業環境の影響と事業の戦略タイプの相違によって説明を試みた。事業環境の影響では,(1)環境の複雑性,(2)不確実性,(3)生産ラインの自動化が評価技法の選択に影響していることがわかった。事業の戦略タイプとの関係では,分析型タイプであるかどうかが評価技法の選択に影響していることが明らかになった。

本研究では,管理会計として設備投資を分析するための新たな切り口としてマネジメント・プロセスに着目した分析を行う。製造業を対象とした日本企業の質問票調査を利用した結果,設備投資マネジメント・プロセスの構成要因として「財務的な事後評価」,「事前の採算性チェック」,「案件の順位設定」,「慎重な検討」が抽出され,それぞれの要因が設備投資マネジメントの効果に異なる影響を与えることが明らかとなった。

設備投資予算においては,ファイナンス研究の影響が強く,管理会計独自の視点から研究が蓄積されてこなかった。管理会計として設備投資予算を研究するためには,実態把握をする必要がある。インタビュー調査の結果,設備投資マネジメントには多様性が見られ,その多様性は企業の外部環境要因や技術要因によってもたらされていると解釈できる。

Japanese supplier relationships, or Keiretsu systems, are recognized as a major contributing factor of competitive advantage of Japanese firms. Some Western firms have introduced this practice and have achieved outcomes such as significant cost reduction and/or outstanding quality improvement. Against the reputation, Keiretsu systems among Japanese firms are facing various difficulties. Especially, costs of maintaining systems become significant. Some portions of Japanese firms abandon their existing value chain and introduce recent Western practices including global sourcing and electronic purchasing. But little is known how Japanese firms have perceived their supply chain and try to change. In this paper, changes of supplier relationships and supply chain management among Japanese firms are examined. Firstly, characteristics of Japanese firms'supplier relationships are figured out through the comprehensive literature surveys. Secondly, the closer look of Japanese supply chain management are presented. The main focus here is the collaborative efforts between buyers and suppliers, especially at both R&D and production stages. Thirdly, the result of questionnaire survey is presented. Questionnaires were mailed to 353 manufacturing companies listed their stocks in Section One of Tokyo Stock Exchange. Finally, the new avenue of inter-organizational managerial accounting research is indicated to stimulate the future research in this field.

本論文では,組織間関係におけるサプライヤーの選択・モニタリング問題について管理会計および関連領域に関する既存研究の整理を行う。これらの整理を踏まえ,組織間関係における財務情報と非財務情報の利用についての経験的な証拠の獲得が当該分野を解明する一つの方法であることを示唆する。最後に,今後の研究方向性を明示するため,現在実施を計画している質問票調査に含まれる質問項目リストを掲載する。

Target cost management or TCM is concerned with simultaneously achieving a target cost along with planning, development and detailed design of new products by using methods such as value engineering (VE). In this paper, we explore a wide variety of TCM practices. The first major finding is that TCM has come to be applied in process industries as well as in assembly industries. Secondly, TCM has multiple objectives of cost reduction, quality assurance, timely introduction of new products into the market, and product development to attract customers. Thirdly, simultaneous engineering is a key concept of TCM. Fourthly, adjustment between allowable costs and forecasted actual costs is a popular practice in setting target costs. Fifthly, TCM activities are monitored even during mass-production to promote continuous improvement. Lastly, co-operation with suppliers is one of the most important factors for the successful transfer of TCM to foreign subsidiaries. © 1994 Academic Press.