| Budget Amount *help |
¥5,070,000 (Direct Cost: ¥3,900,000、Indirect Cost: ¥1,170,000)
Fiscal Year 2014: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2013: ¥2,080,000 (Direct Cost: ¥1,600,000、Indirect Cost: ¥480,000)
Fiscal Year 2012: ¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
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| Outline of Final Research Achievements |
The main objectives of this research,‘Empirical study of the capital structure of the US and Japanese firms’are investigations of the following issues while referring to some theories and hypotheses developed in the US. This research first empirically examined the differentials of capital structure of the US and Japanese firms, and then investigated the relations between capital structure and corporate performance, capital structure and equity ownership, and capital structure and corporate liquidity. Using firm data and econometric methodology, we obtained several significant results not only on the above issues but also on the relations between corporate solvency and capital structure and the financial behaviors of Japanese firms before and after the US Lehman shock.
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