{"author_url":"https://blog.hatena.ne.jp/kyorosukeke/","height":"190","title":"\u5e02\u5834\u53c2\u52a0\u8005\u306e\u884c\u52d5\u69d8\u5f0f\u3068\u30e2\u30e1\u30f3\u30bf\u30e0\u512a\u4f4d\u6027\u2014\u2014\u300c\u30d0\u30ea\u30e5\u30fc\u6295\u8cc7\u5bb6\u300d\u3068\u3044\u3046\u81ea\u5df1\u8a8d\u8b58\u306e\u6b3a\u779e\u3068\u4fa1\u683c\u52d5\u614b\u3078\u306e\u542b\u610f","version":"1.0","blog_url":"https://kyorosukeke.hatenablog.com/","author_name":"kyorosukeke","provider_url":"https://hatena.blog","url":"https://kyorosukeke.hatenablog.com/entry/2026/05/01/142410","published":"2026-05-01 14:24:10","blog_title":"\u3068\u3042\u308b\u6295\u8cc7\u5bb6\u306e\u5b66\u7fd2\u5e33","provider_name":"Hatena Blog","html":"<iframe src=\"https://hatenablog-parts.com/embed?url=https%3A%2F%2Fkyorosukeke.hatenablog.com%2Fentry%2F2026%2F05%2F01%2F142410\" title=\"\u5e02\u5834\u53c2\u52a0\u8005\u306e\u884c\u52d5\u69d8\u5f0f\u3068\u30e2\u30e1\u30f3\u30bf\u30e0\u512a\u4f4d\u6027\u2014\u2014\u300c\u30d0\u30ea\u30e5\u30fc\u6295\u8cc7\u5bb6\u300d\u3068\u3044\u3046\u81ea\u5df1\u8a8d\u8b58\u306e\u6b3a\u779e\u3068\u4fa1\u683c\u52d5\u614b\u3078\u306e\u542b\u610f - \u3068\u3042\u308b\u6295\u8cc7\u5bb6\u306e\u5b66\u7fd2\u5e33\" class=\"embed-card embed-blogcard\" scrolling=\"no\" frameborder=\"0\" style=\"display: block; width: 100%; height: 190px; max-width: 500px; margin: 10px 0px;\"></iframe>","categories":[],"type":"rich","image_url":null,"description":"1. \u306f\u3058\u3081\u306b \u682a\u5f0f\u5e02\u5834\u306e\u4fa1\u683c\u52d5\u614b\u3092\u8003\u5bdf\u3059\u308b\u969b\u3001\u5e02\u5834\u53c2\u52a0\u8005\u3092\u30e2\u30e1\u30f3\u30bf\u30e0\u6295\u8cc7\u5bb6\u3068\u30d0\u30ea\u30e5\u30fc\u6295\u8cc7\u5bb6\u306b\u5206\u985e\u3059\u308b\u4e8c\u9805\u30e2\u30c7\u30eb\u304c\u5e83\u304f\u7528\u3044\u3089\u308c\u308b\u3002\u3057\u304b\u3057\u5b9f\u8a3c\u7814\u7a76\u304a\u3088\u3073\u884c\u52d5\u7d4c\u6e08\u5b66\u7684\u77e5\u898b\u306f\u3001\u81ea\u5df1\u7533\u544a\u4e0a\u306e\u300c\u30d0\u30ea\u30e5\u30fc\u6295\u8cc7\u5bb6\u300d\u306e\u5927\u90e8\u5206\u304c\u5b9f\u969b\u306e\u58f2\u8cb7\u884c\u52d5\u306b\u304a\u3044\u3066\u30e2\u30e1\u30f3\u30bf\u30e0\u7684\u30d1\u30bf\u30fc\u30f3\u3092\u793a\u3059\u3053\u3068\u3092\u660e\u3089\u304b\u306b\u3057\u3066\u3044\u308b\u3002\u672c\u7a3f\u306f\u3001\u3053\u306e\u4e56\u96e2\u306e\u69cb\u9020\u7684\u539f\u56e0\u3092\u6574\u7406\u3057\u3001\u4fa1\u683c\u306e\u975e\u7dda\u5f62\u52d5\u614b\u3068\u306e\u95a2\u4fc2\u3092\u8ad6\u3058\u308b\u3002 2. \u5b9f\u8a3c\u7684\u4e8b\u5b9f\u2014\u2014\u5e02\u5834\u53c2\u52a0\u8005\u306e\u884c\u52d5\u306f\u30e2\u30e1\u30f3\u30bf\u30e0\u512a\u4f4d\u3067\u3042\u308b 2.1 \u6a5f\u95a2\u6295\u8cc7\u5bb6\u306e\u5b9f\u614b Grinblatt, Titman, and Wermers\uff081995, American Economic Review, 85, pp.1088-1105\u2026","width":"100%"}