The Empirical Reserch about the Influence of Capital Investment of Japanese Firms' on Stock Market
| Project/Area Number |
16H07314
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| Research Category |
Grant-in-Aid for Research Activity Start-up
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| Allocation Type | Single-year Grants |
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| Research Field |
Accounting
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| Research Institution | Shizuoka Sangyo University |
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Principal Investigator |
Ota Yuuki 静岡産業大学, 情報学部, 講師 (70779834)
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| Project Period (FY) |
2016-08-26 – 2018-03-31
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| Project Status |
Completed (Fiscal Year 2017)
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| Budget Amount *help |
¥2,340,000 (Direct Cost: ¥1,800,000、Indirect Cost: ¥540,000)
Fiscal Year 2017: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
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| Keywords | 設備投資 / 株式市場 / 将来業績 |
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| Outline of Final Research Achievements |
This study clarified the influence of capital investment of Japanese firms' on the stock market. The main findings of this research are as follows.
First, stock market gives a more positive (negative) valuation for implementing large-scale capital investment of firms that are relatively high (low) growth. Second, Large-scale capital investment that is concerned about over-investment will deteriorate future performance. Third, There is a positive relationship between facility age and future performance. Finally, There is a positive relationship between investment effeciency and financial report quality.
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Report
(3 results)
Research Products
(8 results)
