| Budget Amount *help |
¥4,810,000 (Direct Cost: ¥3,700,000、Indirect Cost: ¥1,110,000)
Fiscal Year 2016: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2015: ¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
Fiscal Year 2014: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
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| Outline of Final Research Achievements |
Our goal pf this study is to make clear the hypothesis that companies who have financial liquidity and financial elasticity can increase their corporate value because they can afford to invest human capital. First, we constructed a database of financial data of Japanese companies focused on financial liquidity and financial elasticity. Second we demonstrated a new empirical study that a capital increase is not necessarily bad news for stock pricing. Finally, we suggested that companies who invest human capital aggressively can have competitive advantages.
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