Kazuhiko Mikami
Biographic Data
| ID | 6699235 |
|---|---|
| NAME | Kazuhiko Mikami |
| GIVEN NAMES | Kazuhiko |
| FAMILY NAME | Mikami |
| SIGNATURE | MIKAMI K |
| AFFILIATIONS | University of Hyogo |
| ORCID | 0000-0002-7566-4018 |
| VERIFIED | Yes |
| TOTAL WORKS | 7 |
| TOTAL CITATIONS | 0 |
| AUTHOR COUNT | 7 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2007 |
| LATEST PUBLICATION YEAR | 2020 |
| H-INDEX | 0 |
On the emergence of non‐profit orchestras
In the market for live classical music, a symphony orchestra typically has fixed costs that are high relative to demand, so that the demand curve lies entirely below the average cost curve (Baumol & Bowen, 1966)—a situation in which a for‐profit enterprise cannot survive. The present study aims to explain how a non‐profit orchestra can survive in such an adverse market environment by relying on private donations, even in the absence of altruism. …
Cooperatives, Transferable Shares, and a Unified Business Law
This paper explores the implications of transferable shares in a cooperative firm as compared with shares in a capitalist firm. We argue that a cooperative firm issuing transferable shares is isomorphic to a capitalist firm as a business organization, while maintaining its essential characteristic of being owned not by capitalists but by members as input providers or output receivers. Based on this observation, we explore the possibility of devel…
On the Emergence of Non‐profit Firms as Alternatives to the Government
It is well known that many non‐profit firms coexist with government firms in industries that provide collectively consumed goods and services, such as education, healthcare, social services, and art and culture. This paper explores the specific circumstances under which non‐profit firms can emerge as alternatives to the government. We show that a non‐profit firm emerges only when the residents’ median preference for a collective good is significa…
Not-for-Profit Hospitals and the Quality of Medical Care
It has been argued in the literature that limiting the profits of hospitals can be an effective method of maintaining the quality of medical care. The present paper examines this hypothesis using a simple formal model of the health-care market under asymmetric information. It is shown that, in some situations, the quality of medical care can be secured by imposing a limited-distribution constraint on hospitals.
Raising Capital by Issuing Transferable Membership in a Worker Cooperative
It is generally recognized that worker cooperatives have a disadvantage in raising capital compared with conventional capitalist firms. In this paper, we explore a method for a worker cooperative to raise non-redeemable equity by issuing transferable membership shares as financial securities. Está generalmente admitido que las cooperativas de trabajadores presentan desventajas en comparación con las empresas capitalistas tradicionales en lo que c…
Sunk Costs of Capital and the Form of Enterprise
This paper examines implications of sunk costs of capital for efficient forms of enterprise. It is assumed that firm owners and outside traders are asymmetrically informed of venture risks, and that there are sunk costs associated with investment in physical and human capital. We then make an efficiency comparison between investor‐owned and worker‐owned firms. We find that the firm is efficient when it is owned by the input supplier (the investor…
Asymmetric Information and the Form of Enterprise
This paper examines the implication of different enterprise forms - capitalist firm and consumer cooperative - for the level of accident risks, assuming informational asymmetry between the firm and the outside trader. Our conclusion is that, in order to reduce accident risks, we should choose an enterprise form that gives the firm's management rights to those who would incur the most substantial loss in case of an accident. This result depends up…
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Asymmetric Information and the Form of Enterprise
This paper examines the implication of different enterprise forms - capitalist firm and consumer cooperative - for the level of accident risks, assuming informational asymmetry between the firm and the outside trader. Our conclusion is that, in order to reduce accident risks, we should choose an enterprise form that gives the firm's management rights to those who would incur the most substantial loss in case of an accident. This result depends up…
Sunk Costs of Capital and the Form of Enterprise
This paper examines implications of sunk costs of capital for efficient forms of enterprise. It is assumed that firm owners and outside traders are asymmetrically informed of venture risks, and that there are sunk costs associated with investment in physical and human capital. We then make an efficiency comparison between investor‐owned and worker‐owned firms. We find that the firm is efficient when it is owned by the input supplier (the investor…
Not-for-Profit Hospitals and the Quality of Medical Care
It has been argued in the literature that limiting the profits of hospitals can be an effective method of maintaining the quality of medical care. The present paper examines this hypothesis using a simple formal model of the health-care market under asymmetric information. It is shown that, in some situations, the quality of medical care can be secured by imposing a limited-distribution constraint on hospitals.
Raising Capital by Issuing Transferable Membership in a Worker Cooperative
It is generally recognized that worker cooperatives have a disadvantage in raising capital compared with conventional capitalist firms. In this paper, we explore a method for a worker cooperative to raise non-redeemable equity by issuing transferable membership shares as financial securities. Está generalmente admitido que las cooperativas de trabajadores presentan desventajas en comparación con las empresas capitalistas tradicionales en lo que c…
On the Emergence of Non‐profit Firms as Alternatives to the Government
It is well known that many non‐profit firms coexist with government firms in industries that provide collectively consumed goods and services, such as education, healthcare, social services, and art and culture. This paper explores the specific circumstances under which non‐profit firms can emerge as alternatives to the government. We show that a non‐profit firm emerges only when the residents’ median preference for a collective good is significa…
Cooperatives, Transferable Shares, and a Unified Business Law
This paper explores the implications of transferable shares in a cooperative firm as compared with shares in a capitalist firm. We argue that a cooperative firm issuing transferable shares is isomorphic to a capitalist firm as a business organization, while maintaining its essential characteristic of being owned not by capitalists but by members as input providers or output receivers. Based on this observation, we explore the possibility of devel…
On the emergence of non‐profit orchestras
In the market for live classical music, a symphony orchestra typically has fixed costs that are high relative to demand, so that the demand curve lies entirely below the average cost curve (Baumol & Bowen, 1966)—a situation in which a for‐profit enterprise cannot survive. The present study aims to explain how a non‐profit orchestra can survive in such an adverse market environment by relying on private donations, even in the absence of altruism. …
Business (6 works) · Economics (5 works) · Corporate Finance and Governance (3 works) · Finance (3 works) · Industrial organization (3 works) · Market economy (3 works) · Microeconomics (3 works) · Banking stability, regulation, efficiency (2 works) · Capital (architecture (2 works) · Experimental Behavioral Economics Studies (2 works)