何だかかっこよい響きの”a regime shift”

制度を活用できるかは結局、そこに携わる人々の気持ちに左右されるからだ（産業再生機構COO）。

今日の日経に出ていた論文「食うか食われるか」Eat or Be Eaten: A Theory of Mergers and Firm Size by Gary Gorton, Matthias Kahl, Richard Rosen :: SSRNから

（We argue that） mergers and merger waves can occur when managers prefer that their firms remain independent rather than be acquired. We assume that managers can reduce their chance of being acquired by acquiring another firm and hence increasing the size of their own firm. We show that if managers value private benefits of control sufficiently, they may engage in unprofitable defensive acquisitions.

防衛的になればばるほど、規模を追求し、収益性のことを忘れていくという仮説