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Update: November, 2021

西原 理 (Michi Nishihara)
大阪大学大学院経済学研究科 経営学系専攻准教授


  • Michi NISHIHARA, Takashi SHIBATA, Chuanqian ZHANG, "Corporate investment, financing, and exit model with an earnings-based borrowing constraint," (2021) Under Review (1st version).
  • Michi NISHIHARA, "How should a startup respond to acquirers? A real options analysis," (2021) Under Review (1st version).
  • Priya NAGARAJ, Michi NISHIHARA , Chuanqian ZHANG, "Multinational investment under uncertainty," (2020) Under Review.
  • Takashi SHIBATA, Michi NISHIHARA, "Optimal financing and investment strategies under asymmetric information about liquidation value," (2018) Under Review.
  • Michi NISHIHARA, Takashi SHIBATA,"Optimal capital structure and simultaneous bankruptcy of firms in corporate networks," Journal of Economic Dynamics and Control 133, 104264 (1-25), (December 2021, DOI: 10.1016/j.jedc.2021.104264), Open Access.
  • Takashi SHIBATA, Michi NISHIHARA, "Financing and investment strategies under creditor-maximized liquidation," International Journal of Theoretical and Applied Finance, 24, 2150013 (1-30), (May, 2021, DOI: 10.1142/S0219024921500138), Open Access.
  • Michi NISHIHARA, "Preemptive competition between two firms with different discount rates," Managerial and Decision Economics 42, 675-687, (April, 2021, DOI: 10.1002/mde.3264), Open Access.
  • Michi NISHIHARA, Takashi SHIBATA, "The effects of asset liquidity on dynamic sell-out and bankruptcy decisions," European Journal of Operational Research 288, 1017-1035 (February, 2021, DOI: 10.1016/j.ejor.2020.06.031), Open Access. Selected as an Editor's Choice Article.
  • Michi NISHIHARA, "Closed-form solution to a real option problem with regime switching," Operations Research Letters 48: 703-707, (November, 2020, DOI: 10.1016/j.orl.2020.08.013).
  • Michi NISHIHARA, Takashi SHIBATA, "Liquidation, fire sales, and acquirers' private information," Journal of Economic Dynamics and Control 108: 103769 (1-24), (November, 2019, DOI: 10.1016/j.jedc.2019.103769).
  • Feng JIAO, Michi NISHIHARA, Chuanqian ZHANG, "Operating leverage and underinvestment," Journal of Financial Research 42: 553-587, (September, 2019, DOI: 10.1111/jfir.12188).
  • Takashi SHIBATA, Michi NISHIHARA, "Credit spread and liquidation value-based debt financing constraint," International Journal of Theoretical and Applied Finance 22: 1950021 (1-27), (August, 2019, DOI: 10.1142/S0219024919500213).
  • Michi NISHIHARA, Sudipto SARKAR, Chuanqian ZHANG, "Agency cost of debt overhang with optimal investment timing and size," Journal of Business Finance and Accounting 46: 784-809, (June, 2019, DOI: 10.1111/jbfa.12379).




【著書】 数理工学事典(6.1. ゲーム理論, 11. 金融工学 を執筆), 朝倉書店, 2011年.

〒560-0043 大阪府豊中市待兼山町1-7