Empirical investigation of financial intermediation paths which boost innovation in China: Influence of quality of institutions
| Project/Area Number |
17K03683
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Economic policy
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| Research Institution | Kyoto University |
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Principal Investigator |
Yano Go 京都大学, 経済学研究科, 教授 (90314830)
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| Project Period (FY) |
2017-04-01 – 2020-03-31
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| Project Status |
Completed (Fiscal Year 2019)
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| Budget Amount *help |
¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000)
Fiscal Year 2019: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2018: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2017: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
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| Keywords | イノベーション / 金融仲介経路 / 制度の質 / 中国 / イノベーション投資 / 資金源 / 金融 / 制度 |
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| Outline of Final Research Achievements |
This research econometrically investigates whether financial intermediation path effectively financing investment by firms for their innovation varies according to quality of institutions faced by firms. As a result, it is found that each importance of internal finance, equity finance, bank loans, or trade credit varies according to quality of institutions such as protection of property right and contract enforcement.
Besides, this research finds that making human capital investment after innovation inputs such as R&D investment is effective for firms to efficiently produce innovation outputs from innovation inputs.
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| Academic Significance and Societal Importance of the Research Achievements |
本研究により中国における企業のイノベーション活動のファイナンスのあり方及びそれへの制度の質の影響が明らかされたことは、新興国経済におけるイノベーションを促進するためには、制度の質の改善を働きかける政策とどのような金融仲介経路を発達させ活用するかという開発金融政策をどのような組み合わせと手順で進めるのが適切かという、中国に限定されない新興国にとって普遍的な学術的問題解明され、更に政策立案上も特に企業金融システム設計における有効な政策デザインに資するという意義をもつ。
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Report
(4 results)
Research Products
(6 results)
