Empirical analysis of firm's financial constraints and their real effects
Project/Area Number |
25780202
|
Research Category |
Grant-in-Aid for Young Scientists (B)
|
Allocation Type | Multi-year Fund |
Research Field |
Money/ Finance
|
Research Institution | The University of Tokyo |
Principal Investigator |
SUZUKI Michio 東京大学, 経済学研究科(研究院), 講師 (40580717)
|
Project Period (FY) |
2013-04-01 – 2016-03-31
|
Project Status |
Completed (Fiscal Year 2015)
|
Budget Amount *help |
¥3,900,000 (Direct Cost: ¥3,000,000、Indirect Cost: ¥900,000)
Fiscal Year 2015: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2014: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2013: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
|
Keywords | 企業金融 / 公的資本注入 / 設備投資 / 研究開発減税 / 自己資本比率規制 / 銀行危機 / 生産性 / 生産関数 |
Outline of Final Research Achievements |
This research project consists of two parts. The first part examines the effect of government capital injections into financially troubled banks on loan growth and corporate investment during the late 1990s Japanese banking crisis. The estimation results suggest that the capital injections help banks to increase their supply of loans and the improvement of bank’s capital ratio increases firm’s investment to a larger extent when firms are more productive. The second part examines the effect of tax credit on firm’s R&D expenditure. The estimation results suggest that the effect of tax credit is significantly larger for firms with relatively large outstanding debts.
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Report
(4 results)
Research Products
(12 results)