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2017 Fiscal Year Final Research Report

The Empirical Reserch about the Influence of Capital Investment of Japanese Firms' on Stock Market

Research Project

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Project/Area Number 16H07314
Research Category

Grant-in-Aid for Research Activity Start-up

Allocation TypeSingle-year Grants
Research Field Accounting
Research InstitutionShizuoka Sangyo University

Principal Investigator

Ota Yuuki  静岡産業大学, 情報学部, 講師 (70779834)

Project Period (FY) 2016-08-26 – 2018-03-31
Keywords設備投資 / 株式市場 / 将来業績
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.

Free Research Field

会計学

URL: 

Published: 2019-03-29  

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