2014 Fiscal Year Final Research Report
Low Productivity and Effectiveness of Public Policy during "lost two decades" in Japan
| Project/Area Number |
24530376
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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 |
Public finance/Monetary economics
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| Research Institution | Kansai University |
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Principal Investigator |
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| Project Period (FY) |
2012-04-01 – 2015-03-31
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| Keywords | 企業設備投資 / 企業価値 / キャッシュフロー / 持株比率 / 海外投資家 |
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| Outline of Final Research Achievements |
This study investigated what have affected the Japanese firms’ capital investment and R&D since 1990s, which is so-called “lost two decades”. The empirical results showed the following three findings. (1) The firms’ capital investments have depended much more on corporate value than cash flow. (2) The Japanese firms have considered their corporate value more as the foreign investors have got their stocks more. (3) The R&D has also depended on the corporate finance rather than the incentives given by tax credits.
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| Free Research Field |
公共経済学
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