| Project/Area Number |
22730238
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Single-year Grants |
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| Research Field |
Economic policy
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| Research Institution | Waseda University |
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Principal Investigator |
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| Project Period (FY) |
2010 – 2011
|
| Project Status |
Completed (Fiscal Year 2011)
|
| Budget Amount *help |
¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2011: ¥260,000 (Direct Cost: ¥200,000、Indirect Cost: ¥60,000)
Fiscal Year 2010: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
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| Keywords | R & D投資 / 企業金融 / 資金制約 / R&D投資 / 研究開発投資 / 企業統治 / 株式所有構造 |
|---|
| Research Abstract |
How Japanese firms financed R & D in the 2000s is studied. By estimating R & D investment function of listed firms in the R & D intensive industries, following results are obtained. Financing constraints are observed only among young small firms mainly listed on stock markets for emerging companies. However, R & D were not financed by new share issues among these firms, which implies that the stock markets did not play a role as suppliers of R & D fund. We also find that firms hard pressed for paying debts faced financing constraints and their R & D investments might be stuck at suboptimal levels.
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