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Vol.68 No.3 WIN. 2020 (In Japanese) A leading management journal in Japanese,which builds a bridge between theory and practice.EDITED BYHitotsubashi University, Institute of Innovation ResearchPUBLISHED BYToyo Keizai Inc.The New Form of Corporations and Their Governance Katsuhito Iwai“Towards New Forms of Business Corporations: Why Was Milton Friedman All Wrong about Business Corporations?“Colin Mayer“Prosperity, Finance and Ownership“Miyuki Zeniya“What Is a Good Company at the Age of SDGs/ESG Inventing?“Ryoko Ueda“The Development of Corporate Governance in the Changing Economy and Social Structure: Harmonization of Value Creation and Sustainability“Masaru Karube / Masako Egawa“Rethinking How to Collaborate with Others“Charles D. Lake Ⅱ“The Rise of Stakeholder Capitalism and Its Implications for Japanese Companies: Strategic Execution of Creating Shared Value (CSV) Governance“Hideo Kudo / Kentaro Nobeoka“Career Trajectories to Technology Management Leaders“ ●A New Form of Business That Bridges Companies and Society (２)  Masaru Karube ●Entrepreneurs Who Change the World (5)  Fumihiro Kozato  Interviewed by Masatoshi Fujiwara  ●Business Cases  Atsushi Tsumita / Tatsuya Kubota / Tomonori Yazaki / Kentaro Oki “KDDI: Renewing the

●Forum 20202021.1.20Ai Hisano(Senior Lecturer, Graduate School of Economics, Kyoto University)”Visualizing Taste: How Business Changed the Look of What You Eat”

Hideto Koizumi, Adjunct Post-doctoral Fellow, received Encouragement Award 2020 from the Japan Institute of Public Finance. Organization: Japan Institute of Public Finance Award: Encouragement Award Achievements: “Optimal Uniform Capital Taxation in A Partially Automated Society” Abstract: Recent automating technologies have sparked discussions on “robot taxes,” aimed to dissuade the displacement of labor and to generate revenue to redistribute to displaced laborers. Implementing such taxes is challenging, however, in part because of the difficulty in clearly separating which technologies substitute for labor from those which complement it. Modeling automating technologies as intermediate goods, I consider the optimal tax policy in this environment. As in standard models, non-linear labor taxes are assigned without the knowledge of a laborer’s type. Additionally, due to tax avoidance concerns and arbitrage opportunities, intermediate goods are uniformly and linearly taxed without the knowledge of their complementarity or substitutability with labor. Despite the potential for automating technologies to be complementary to workers, I find that the optimal tax

Vol.68 No.2 AUT. 2020 (In Japanese) A leading management journal in Japanese,which builds a bridge between theory and practice.EDITED BYHitotsubashi University, Institute of Innovation ResearchPUBLISHED BYToyo Keizai Inc.Digital Transformation and the Fate of the Japanese Companies: What Made DX So Slow and So Unessential?Hirofumi Tatsumoto / Fumihiko Ikuine“DX: Past, Present and Future“Soichiro Murata“Run Electrons, Not Employees. Electrons Never Tired“Youngjin Yoo“Three Strategic Questions on Digital Transformation That One Must Ask“Yasufumi Fujii“Providing New UX Is the Purpose of DX: DX by Servicer-Merge-Maker Model with a Case of Ping An Group“Vili Lehdonvirta“Digital Transformation of Labour Markets: The Rise of Remote, Flexible, Contact-based Online Work“Byeongwoo Kang“Digital Transformation in the Education System“Tohru Yoshioka-Kobayashi / Binshi Yuan “Innovation Management for Surviving the Recession: A Literature Review“ ●A New Form of Business That Bridges Companies and Society (1)  Masaru Karube ●Entrepreneurs Who Change the World (4)  Kazuhiro Ogura  Interviewed by Yaichi Aoshima / Masatoshi Fujiwara  ●Business Cases  Takahiro Endo / Genjiro Kosaka “CyberAgent: Balancing Competition and Cooperation through Corporate Culture“  Satoko Suzuki “Atrae: The

Institute of Innovation Research has been holding the IIR Summer School every year since 2010. The 11th Summer School was held remotely through Zoom on August 25 & 26, 2020. The purpose of this summer school is to promote innovation research by building researcher networks, offering a place for presenting the latest research results, and supporting young researchers. This year, we invited Professor Shigeru ASABA as a guest speaker and a total of 11 presentations were made (2 were in Japanese and 9 in English). The Best Presentation Award was awarded to Dr. Kyle Higham, Appointed Research Associate, IIR, Hitotsubashi University. The title of his presentation was “Patent Quality: Systematic Analysis and Measurement”. The participants were wide ranging from graduate students to researchers and business practitioners. We thank them all for their participation. The program of the 11th IIR Summer School can be accessed from below. https://www.iir.hit-u.ac.jp/blog/2020/05/29/program-ss2020/