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This paper presents an interactive fuzzy satisfying method by assuming that the decision maker (DM) has fuzzy goals for each of the objective functions in multiobjective nonlinear programming problems. The fuzzy goals of the DM are quantified by eliciting the corresponding membership functions through the interaction with the DM. After determining the membership functions for each of the objective functions, in order to generate a candidate for the satisficing solution which is also a Pareto optimal, the DM selects an appropriate standing membership function and specifies his/her aspiration levels of achievement of the other membership functions, called constraint membership values. For the DM's constraint membership values, the corresponding constraint problem is solved and the DM is supplied with the Pareto optima] solution together with the trade‐off rates between a standing membership function and each of the other membership functions. Then by considering the current values of the membership functions as well as the trade‐off rates, the DM acts on this solution by updating his/her constraint membership values. In this way, the satisficing solution for the DM can be derived efficiently from among a Pareto optimal solution set by updating his/her constraint membership values. On the basis of the proposed method, a time‐sharing computer program is written and an application to regional planning is demonstrated along with the corresponding computer outputs.

The purpose of this paper is to determine the best conditional asset pricing model for the Tokyo Stock Exchange sample by utilizing long‐run daily data. It aims to investigate whether there are any other firm‐specific variables that can explain abnormal returns of the estimated asset pricing model.

The individual firm sample was used to conduct various cross‐sectional tests of conditional asset pricing models, at the same time as using test portfolios in order to confirm the mean variance efficiency of basic unconditional models.

The paper's multifactor models in unconditional forms are rejected, with the exception of the five‐factor model. Further, the five‐factor model is better overall than the Fama and French model and other alternative models, according to both the Gibbons, Ross, and Shanken test and the Hansen and Jagannathan distance measure test. Next, using the final conditional five‐factor model as the de facto model, it was determined that the turnover ratio and the size can consistently predict Jensen's alphas. The book‐to‐market ratio (BM) and the past one‐year returns can also significantly predict the alpha, albeit to a lesser extent.

In the literature related to Japanese data, there has never been a comprehensive test of conditional asset pricing models using the long‐run data of individual firms. The conditional asset pricing model derived for this study has led to new findings about the predictability of past one‐year returns and the turnover ratio.

The purpose of this paper is to examine the effects of political risk on firms' likelihood of foreign market entry and performance by adopting a strategic view of political risk and drawing upon the arguments of multimarket contact theory.

This study estimates the location choice and performance of Japanese auto parts‐makers using panel regression models.

The study finds that firms with low multimarket contact in the home country and high multimarket contact in the host country are less likely to avoid politically risky host countries and that firms which entered politically risky host countries exhibit greater performance when the degree of multimarket contact with prior entrants is high.

Although the research design raises a concern about the generalizability of the findings, this study highlights the strategic importance of politically risky markets and suggests the importance of considering competitive interactions with rivals in examining interdependent behavior in foreign direct investments.

Instead of consistently avoiding politically risky markets, managers should actively consider the potential strategic importance of these markets. A post‐entry strategy suggested by the findings is taking positive steps to leverage the benefits of multimarket contacts for managing subsidiaries in politically risky host countries.

Unlike previous studies, this study emphasizes the strategic potential of politically risky markets and takes a view that firms have variable political risk tolerance. Furthermore, the authors' adoption of multimarket contact theory allows a novel approach to benchmarking against rivals for foreign entry decisions.

The purpose of this paper is to examine how firms with multimarket contacts in both product and geographic markets make foreign direct investments (FDI) location choices and to advance the understanding about how managers with cognitive limits cope with opportunities to take the advantage of mutual forbearance in two types of markets.

Drawing upon the literatures on multimarket contact and decision making, the authors develop original hypotheses on how multimarket contacts in two types of markets influence firms’ choice of destination for foreign investments. The authors test the hypotheses using longitudinal archival data on foreign market entries of Japanese auto parts makers.

The authors find that when choosing FDI locations, firms reduce the cognitive burdens of coping with multimarket contacts in the two types of markets by focussing exclusively on what is perceived as relevant to the decision at hand. The authors also find that this propensity is particularly significant for large firms, whereas small firms use different decision rules and avoid entering markets with the greater degree of multimarket contact with prior entrants, whether in product or national market.

Although heuristics simplify competitive environments and reduce managers’ cognitive burdens, such a cost-saving orientation could increase the risk associated with international entry that may end in severe counterattacks from prior entrants, wasteful foreign investments, and substantial entry failures.

This study contributes to the literature by adopting multimarket contact theory to foreign market entry, jointly analyzing two types of multimarket contacts, testing three alternative hypotheses about how boundedly rational managers cope with multimarket contacts in two markets, and demonstrating that managers focus on multimarket contacts only in one type of markets when making entry decisions.

Recently, the requirement of the printed wiring boards (PWBs) of environmental harmony type has risen rapidly. We have developed the core technologies of halogen‐free. They consist of resin system technology and high filler content technology. The point of the resin technology is the development of a new resin system (RO resin) which takes nitrogen into the molecule frame in a large quantity. The point of the high filler content technology is the development of a new filler interphase control system (FICS) which enables the high dispersion of fillers. A variety of halogen‐free substrates which can be applied to the diversified needs have been developed by combining these technologies. They are MCL‐RO‐67G, thin laminate for the multi‐layer PWBs, MCF‐4000G, build‐up material for high density interconnect (HDI) , and MCL‐E‐679F(G), high Tg laminate for the advanced plastic IC packages (PKGs) and PWBs. These materials have excellent heat‐resistance, and are suitable for lead‐free solder as well. The robustness towards temperature, humidity and frequency of those materials is better than that of current materials. The synthetic board design of the environmental harmony type is facilitated by combined use of these materials. We are also developing several multi‐layer and build‐up materials, HDI for high frequency, high speed and high reliability application to meet the requirement of PWBs and advanced PKGs for the near future.