Lender Liability for Environmental Risk Revisited

There have been opposing conclusions in the literature as to whether lender liability increases the probability of environmentally harmful accidents. This paper shows that s multiplicity of equilibria is the key to solve such contradictory conclusions.Environmental Risk, Lender Liability

Sustainable Development in an Aging Economy

In this paper, we analyze the effects of population aging on economic growth and the environment in a two-period overlapping generations model of growth, aging, and the environment. We show that aging may be beneficial to economic growth and the environment under perfect annuitisation, while possibly harmful under imperfect annuitisation. We also discuss the implications of our results for environmental policy in an aging economy.Population Aging, Overlapping Generations, Economic Growth, Sustainable Development, Environmental Externalities

Determinants of Subordinated Debt Issuance by Japanese Regional Banks

This paper empirically investigates the determinants of subordinated debt issuance by Japanese regional banks during the period 2000-2005 using a probit model. The empirical results suggest the following: (i) Throughout the period, Japanese regional banks with a lower capital/asset ratio have a higher incentive to issue subordinated debts because they are counted as Tier 2 capital under the Basel Accord. (ii) During the period of instability in the Japanese banking system ( 2000-2003), investors tended to intensively use financial variables such as the non-performing loan ratio, ROA, and total deposits outstanding to screen good banks for their investments in the subordinated debts. (iii) During the period after the banking system regained stability (2004-2005), investors tended to pay less attention to the above variables due mainly to the mitigated default risk of these banks.

SPRINT RUNNERS' INTENTIONS DURING ACCELERATION AND CHANGES IN THEIR RUNNING SPEED

This study investigated the relationship between intention during acceleration and changes in running speed during a sprint. Changes in running speed over each entire sprint were measured using a laser distance meter (100 Hz). Seven male sprinters performed two sprints with different intentions during acceleration: in one sprint, sprinters were instructed to immediately reach their maximum speed (ACinst), and in the other, sprinters were instructed to sprint 100 m as in a typical sprint race (ACloo). AClm showed significantly higher values for the upper limit of the sprinter's top speed compared to the ACimt. The ACinst showed significantly higher values for initial acceleration compared to the ACiw. These results suggest that changes in running speed are affected by the intention in the acceleration

ネンキンサイボウノブンカニトモナウコウゾウノケイセイトソノチョウセツ

京都大学0048新制・論文博士理学博士乙第1718号論理博第345号新制||理||136(附属図書館)2848UT51-46-B103(主査)教授 竹内 郁夫, 教授 皆川 貞一, 教授 岡田 節人学位規則第5条第2項該当Kyoto UniversityDA