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Citations for "The Relation between Firm Growth and Q with Multiple Capital Goods: Theory and Evidence from Panel Data on Japanese Firms"

by Hayashi, Fumio & Inoue, Tohru

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  1. Alan Carruth & Andy Dickerson & Andrew Henley, 1998. "Econometric Modelling of UK Aggregate Investment: The Role of Profits and Uncertainty," Studies in Economics 9812, School of Economics, University of Kent.
  2. Fujii, Hidemichi & Kazuma, Edamura & Sumikura, Koichi & Furusawa, Yoko & Fukuzawa, Naomi & Managi, Shunsuke, 2014. "How enterprise strategies are related to innovation and productivity change: An empirical study of Japanese manufacturing firms," MPRA Paper 57996, University Library of Munich, Germany.
  3. Hall, Bronwyn H. & Jaffee, Adam & Trajtenberg, Manuel, 2000. "Market Value and Patent Citations: A First Look," Department of Economics, Working Paper Series qt1rh8k6z2, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  4. Steve Bond & Dietmar Harhoff & John Van Reenen, 1999. "Investment, R&D and financial constraints in Britain and Germany," IFS Working Papers W99/05, Institute for Fiscal Studies.
  5. Masaharu Hanazaki & Akiyoshi Horiuchi, 2000. "Have Banks Contributed to Efficient Management in Japan's Manufacturing?," CIRJE F-Series CIRJE-F-76, CIRJE, Faculty of Economics, University of Tokyo.
  6. Boyan Jovanovic & Peter L. Rousseau, 2014. "Extensive and Intensive Investment over the Business Cycle," Journal of Political Economy, University of Chicago Press, vol. 122(4), pages 863 - 908.
  7. Mizobata, Hirokazu, 2016. "Differing factor adjustment costs across industries: Evidence from Japan," Economic Modelling, Elsevier, vol. 54(C), pages 382-391.
  8. Lubomir Lizal, 1999. "Does a Soft Macroeconomic Environment Induce Restructuring on the Microeconomic Level during the Transition Period? Evidence from Investment Behavior of Czech Enterprises," William Davidson Institute Working Papers Series 235, William Davidson Institute at the University of Michigan.
  9. Serven, Luis, 1995. "Capital goods imports, the real exchange rate and the current account," Journal of International Economics, Elsevier, vol. 39(1-2), pages 79-101, August.
  10. Towa Tachibana & Sekine & Toshitaka, 2004. "Land Investment by Japanese Firms during and after the Bubble Period," Econometric Society 2004 Far Eastern Meetings 631, Econometric Society.
  11. Hamaaki, Junya, 2008. "Investment responses to Japanese tax reforms: A cross-industry comparison," Japan and the World Economy, Elsevier, vol. 20(4), pages 542-562, December.
  12. Chirinko, Robert S. & Schaller, Huntley, 1996. "Business Fixed Investment and "Bubbles": The Japanese Case," Economics Series 28, Institute for Advanced Studies.
  13. Masuda, Koichi, 2015. "Fixed investment, liquidity constraint, and monetary policy: Evidence from Japanese manufacturing firm panel data," Japan and the World Economy, Elsevier, vol. 33(C), pages 11-19.
  14. Keiichiro Kobayashi & Yumi Saita & Toshitaka Sekine, 2002. "Forbearance Lending: A Case for Japanese Firms," Bank of Japan Working Paper Series Research and Statistics D, Bank of Japan.
  15. Yoshiro Miwa & J. Mark Ramseyer, 2001. "The Fable of the Keiretsu," CIRJE F-Series CIRJE-F-109, CIRJE, Faculty of Economics, University of Tokyo.
  16. Larry Karp & Thierry Paul, 2005. "Intersectoral Adjustment and Policy Intervention: the Importance of General-Equilibrium Effects," Review of International Economics, Wiley Blackwell, vol. 13(2), pages 330-355, 05.
  17. Cummins, Jason & Hassett, Kevin & Oliner, Stephen, 1997. "Investment Behavior, Observable Expectations and Internal Funds," Working Papers 97-30, C.V. Starr Center for Applied Economics, New York University.
  18. Harada, Nobuyuki & Honjo, Yuji, 2005. "Does the Creative Business Promotion Law enhance SMEs' capital investments? Evidence from a panel dataset of unlisted SMEs in Japan," Japan and the World Economy, Elsevier, vol. 17(4), pages 395-406, December.
  19. Austan Goolsbee & David B. Gross, 1997. "Estimating Adjustment Costs with Data on Heterogeneous Capital Goods," NBER Working Papers 6342, National Bureau of Economic Research, Inc.
  20. Cummins, Jason G. & Hassett, Kevin A. & Hubbard, R. Glenn, 1996. "Tax reforms and investment: A cross-country comparison," Journal of Public Economics, Elsevier, vol. 62(1-2), pages 237-273, October.
  21. Bond, Stephen R. & Söderbom, Måns & Wu, Guiying, 2011. "Pursuing the wrong options? Adjustment costs and the relationship between uncertainty and capital accumulation," Economics Letters, Elsevier, vol. 111(3), pages 249-251, June.
  22. Ogawa, Kazuo & Suzuki, Kazuyuki, 2000. "Demand for Bank Loans and Investment under Borrowing Constraints: A Panel Study of Japanese Firm Data," Journal of the Japanese and International Economies, Elsevier, vol. 14(1), pages 1-21, March.
  23. Zvi Griliches, 1990. "Patent Statistics as Economic Indicators: A Survey," NBER Working Papers 3301, National Bureau of Economic Research, Inc.
  24. R. Glenn Hubbard & Anil Kashyap, 1990. "Internal Net Worth and the Investment Process: An Application to U.S. Agriculture," NBER Working Papers 3339, National Bureau of Economic Research, Inc.
  25. Demir, Firat, 2007. "Private Investment and Cash Flow Relationship Revisited: Capital Market Imperfections and Financialization of Real Sectors in Emerging Markets," MPRA Paper 3081, University Library of Munich, Germany.
  26. Rappaport, Jordan, 2006. "A bottleneck capital model of development," Journal of Monetary Economics, Elsevier, vol. 53(8), pages 2113-2129, November.
  27. Serven, Luis, 1995. "Terms-of-trade shocks and optimal investment : another look at the Laursen-Metzler effect," Policy Research Working Paper Series 1424, The World Bank.
  28. Yishay Yafeh & Oved Yosha, 2003. "Large Shareholders and Banks: Who Monitors and How?," Economic Journal, Royal Economic Society, vol. 113(484), pages 128-146, January.
  29. Casalin, Fabrizio & Dia, Enzo, 2014. "Adjustment costs, financial frictions and aggregate investment," Journal of Economics and Business, Elsevier, vol. 75(C), pages 60-79.
  30. Horst Raff & Michael Ryan & Frank Stähler, 2015. "Financial Frictions and Foreign Direct Investment: Theory and Evidence from Japanese Microdata," Kiel Working Papers 1992, Kiel Institute for the World Economy.
  31. Gibson, Michael S., 1997. "More Evidence on the Link between Bank Health and Investment in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 11(3), pages 296-310, September.
  32. Bronwyn H. Hall., 1999. "Innovation and Market Value," Economics Working Papers E99-265, University of California at Berkeley.
  33. Jason G. Cummins, 2004. "A new approach to the valuation of intangible capital," Finance and Economics Discussion Series 2004-17, Board of Governors of the Federal Reserve System (U.S.).
  34. Karl Whelan, 2000. "Balanced growth revisited : a two-sector model of economic growth," Open Access publications 10197/247, School of Economics, University College Dublin.
  35. SHINADA Naoki, 2008. "Corporate Investment and Uncertainty: An empirical analysis," Discussion papers 08033, Research Institute of Economy, Trade and Industry (RIETI).
  36. Iscan, Talan B, 2000. "Financing Constraints and Investment Decline in Mexico," Manchester School, University of Manchester, vol. 68(1), pages 24-43, January.
  37. Keun Rhee & Hak Pyo, 2010. "Financial crisis and relative productivity dynamics in Korea: evidence from firm-level data (1992–2003)," Journal of Productivity Analysis, Springer, vol. 34(2), pages 111-131, October.
  38. Michael S. Gibson, 1996. "More evidence on the link between bank health and investment in Japan," International Finance Discussion Papers 549, Board of Governors of the Federal Reserve System (U.S.).
  39. Russell Cooper & Joao Ejarque, 2000. "Exhuming Q: Market Power vs. Capital Market Imperfections," Econometric Society World Congress 2000 Contributed Papers 0528, Econometric Society.
  40. Pindado, Julio & Rodrigues, Luis & de la Torre, Chabela, 2008. "How do insolvency codes affect a firm's investment?," International Review of Law and Economics, Elsevier, vol. 28(4), pages 227-238, December.
  41. Emilio Colombo & Luca Stanca, 2003. "Investment Decisions and the Soft Budget Constraint: Evidence from Hungarian Manufacturing Firms," Working Papers 68, University of Milano-Bicocca, Department of Economics, revised Dec 2003.
  42. Laeven, Luc, 2000. "Does financial liberalization relax financing constraints on firms ?," Policy Research Working Paper Series 2467, The World Bank.
  43. C. Shimizu & W. E. Diewert & K. G. Nishimura & T. Watanabe, 2012. "Estimating Quality Adjusted Commercial Property Price Indexes Using Japanese REIT Data," CARF F-Series CARF-F-307, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo, revised Feb 2013.
  44. E. C. Mamatzakis, 2010. "The contribution of the publicly-funded R&D capital to productivity growth and an application to the Greek food and beverages industry," International Review of Applied Economics, Taylor & Francis Journals, vol. 24(4), pages 483-494.
  45. Hazama, Makoto & Uesugi, Iichiro, 2015. "Heterogeneous Impact of Real Estate Prices on Firm Investment," HIT-REFINED Working Paper Series 30, Institute of Economic Research, Hitotsubashi University.
  46. Brian J. Hall & David E. Weinstein, 1996. "The Myth of the Patient Japanese: Corporate Myopia and Financial Distress in Japan and the U.S," Harvard Institute of Economic Research Working Papers 1770, Harvard - Institute of Economic Research.
  47. Fumio Hayashi, 1997. "The Main Bank System and Corporate Investment: An Empirical Reassessment," NBER Working Papers 6172, National Bureau of Economic Research, Inc.
  48. Gao, Wenlian, 2008. "Banks as lenders and shareholders: Evidence from Japan," Pacific-Basin Finance Journal, Elsevier, vol. 16(4), pages 389-410, September.
  49. Cummins, J.G., 1998. "Taxation and the Sources of Growth: Estimates from United States Multinational Corporations," Working Papers 98-08, C.V. Starr Center for Applied Economics, New York University.
  50. Alessandra Del Boca & Marzio Galeotti & Paola Rota, 2003. "Non-convexities in the Adjustment of Different Capital Inputs: A Firm-level Investigation," Working Papers 2003.35, Fondazione Eni Enrico Mattei.
  51. Skripnitchenko, Anatoliy & Abbott, Philip C., 2003. "Preferential Trade Arrangements In Apparel Exports From The Caribbean To The U.S.: A Dynamic Investment Approach," 2003 Annual meeting, July 27-30, Montreal, Canada 21977, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  52. Yuzo Honda & Kazuyuki Suzuki, 2006. "Is Cash Flow a Proxy for Financing Constraints in the Investment Equation? The Case of Unlisted Japanese Firms," Discussion Papers in Economics and Business 06-24, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
  53. Russell W. Cooper & Joao Ejarque, 2001. "Exhuming Q: market power capital market imperfections," Working Papers 611, Federal Reserve Bank of Minneapolis.
  54. Hiona Balfoussia & Heather D. Gibson, 2016. "Firm investment and financial conditions in the euro area: evidence from firm-level data," Working Papers 208, Bank of Greece.
  55. repec:hal:journl:halshs-00085680 is not listed on IDEAS
  56. Alfredo Martín-Oliver & Vicente Salas-Fumas, 2007. "How do intangible assets create economic value? an application to banks," Working Papers 0730, Banco de España;Working Papers Homepage.
  57. Koo, Jaewoon & Maeng, Kyunghee, 2005. "The effect of financial liberalization on firms' investments in Korea," Journal of Asian Economics, Elsevier, vol. 16(2), pages 281-297, April.
  58. Fabio Ghironi, 2000. "Alternative Monetary Rules for a Small Open Economy: The Case of Canada," Boston College Working Papers in Economics 466, Boston College Department of Economics, revised 30 Oct 2000.
  59. Takashi Nagahata & Toshitaka Sekine, 2002. "The Effects of Monetary Policy on Firm Investment after the Collapse of the Asset Price Bubble: An Investigation Using Japanese Micro Data," Bank of Japan Working Paper Series Research and Statistics D, Bank of Japan.
  60. Hiroki Arato & Katsunori Yamada, 2007. "Valuation of Japanese Corporations during the 1980s: evidence from an accounting dataset," Discussion Papers in Economics and Business 07-45, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
  61. Bhattacharjee, A. & Higson, C. & Holly, S. & Kattuman, P., 2004. "Business Failure in UK and US Quoted Firms: Impact of Macroeconomic Instability and the Role of Legal Institutions," Cambridge Working Papers in Economics 0420, Faculty of Economics, University of Cambridge.
  62. Albert Ando & Dimitrios Christelis & Tsutomu Miyagawa, 2003. "Inefficiency of Corporate Investment and Distortion of Savings Behavior in Japan," NBER Chapters, in: Structural Impediments to Growth in Japan, pages 155-190 National Bureau of Economic Research, Inc.
  63. Mehdi Nekhili & Dhikra Chebbi Nekhili & Nicolas Vaillant, 2009. "What matters more in R&D and Capital Expenditures Financing by Japanese Firms:Multinationality or Bank Affiliation?," Working Papers CREGO 1090103, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations.
  64. Schmidt-Hebbel, Klaus & Serven, Luis, 1995. "Fiscal and monetary contraction in Chile : a rational-expectations approach," Policy Research Working Paper Series 1472, The World Bank.
  65. Kentaro Imai, 2013. "A Panel Study of Zombie SMEs in Japan: Identification, Borrowing and Investment Behavior," Discussion Papers in Economics and Business 13-16-Rev., Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP), revised Sep 2014.
  66. Masafumi Kozuka, 2015. "Exchange Rate, Marginal q and Investment Behavior of Small and Medium-Sized Enterprises in Japan: Time Series Evidences of Manufacturing Industries," Discussion Papers 1515, Graduate School of Economics, Kobe University.
  67. Mark Schankerman, 1991. "Revisions of Investment Plans and the Stock Market Rate of Return," STICERD - Economics of Industry Papers 05, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
  68. Gema Pastor-Agustín & Marisa Ramírez-Alesón & Manuel Espitia-Escuer, 2010. "Modeling Asset Interconnectedness on Investment Models," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 16(2), pages 203-212, May.
  69. Gan, Jie, 2007. "Collateral, debt capacity, and corporate investment: Evidence from a natural experiment," Journal of Financial Economics, Elsevier, vol. 85(3), pages 709-734, September.
  70. Lubomir Lizal & Jan Svejnar, 2001. "Financial Conditions and Investment during the Transition: Evidence from Czech Firms," Development and Comp Systems 0012008, EconWPA.
  71. Imai, Kentaro, 2016. "A panel study of zombie SMEs in Japan: Identification, borrowing and investment behavior," Journal of the Japanese and International Economies, Elsevier, vol. 39(C), pages 91-107.
  72. Daniele Tori & Özlem Onaran, 2016. "The effects of financialization on investment: Evidence from firm-level data for the UK," Working Papers PKWP1601, Post Keynesian Economics Study Group (PKSG).
  73. Gabor Pinter & Angus Foulis & Saleem Bahaj, 2016. "The Residential Collateral Channel," 2016 Meeting Papers 502, Society for Economic Dynamics.
  74. Hosono, Kaoru, 2003. "Growth opportunities, collateral and debt structure: the case of the Japanese machine manufacturing firms," Japan and the World Economy, Elsevier, vol. 15(3), pages 275-297, August.
  75. Jovanovic, Boyan & Stolyarov, Dmitriy, 1997. "Optimal Adoption of Complementary Technologies," Working Papers 97-27, C.V. Starr Center for Applied Economics, New York University.
  76. Boyan Jovanovic & Peter L. Rousseau, 2002. "The Q-Theory of Mergers," NBER Working Papers 8740, National Bureau of Economic Research, Inc.
  77. Foresi, Silverio & Hamao, Yasushi & Mei, Jianping, 1998. "Interaction in investment among rival Japanese firms," Japan and the World Economy, Elsevier, vol. 10(4), pages 393-407, October.
  78. Shigeru Asaba, 2013. "Patient investment of family firms in the Japanese electric machinery industry," Asia Pacific Journal of Management, Springer, vol. 30(3), pages 697-715, September.
  79. Nagahata, Takashi & Sekine, Toshitaka, 2005. "Firm investment, monetary transmission and balance-sheet problems in Japan: an investigation using micro data," Japan and the World Economy, Elsevier, vol. 17(3), pages 345-369, August.
  80. Takashi Hatakeda, 2012. "R&D Investment Smoothing and Corporate Diversification," Discussion Papers 2012-42, Kobe University, Graduate School of Business Administration.
  81. Kasahara, Hiroyuki & Shimotsu, Katsumi & Suzuki, Michio, 2014. "Does an R&D tax credit affect R&D expenditure? The Japanese R&D tax credit reform in 2003," Journal of the Japanese and International Economies, Elsevier, vol. 31(C), pages 72-97.
  82. Akiyoshi, Fumio & Kobayashi, Keiichiro, 2010. "Banking crisis and productivity of borrowing firms: Evidence from Japan," Japan and the World Economy, Elsevier, vol. 22(3), pages 141-150, August.
  83. Maria Angelica Arbelaez & Juan Jose Echavarria, 2002. "Credit, Financial Liberalization and Manufacturing Investment in Colombia," Research Department Publications 3145, Inter-American Development Bank, Research Department.
  84. Fabio Ghironi, 2000. "Towards New Open Economy Macroeconometrics," Boston College Working Papers in Economics 469, Boston College Department of Economics.
  85. Konomi Tonogi & Jun-ichi Nakamura & Kazumi Asako, 2014. "Heterogeneity of Capital Stocks in Japan: Classification by Factor Analysis," Journal of Knowledge Management, Economics and Information Technology,, vol. 4(2), pages 10, April.
  86. Shin-ichi Fukuda & Munehisa Kasuya & Jouchi Nakajima, 2005. "Deteriorating Bank Health and Lending in Japan: Evidence from Unlisted Companies Undergoing Financial Distress," CIRJE F-Series CIRJE-F-364, CIRJE, Faculty of Economics, University of Tokyo.
  87. Jaewoon Koo & Kyunghee Maeng, 2006. "Foreign ownership and investment: evidence from Korea," Applied Economics, Taylor & Francis Journals, vol. 38(20), pages 2405-2414.
  88. Laurent Soulat, 2006. "Les modèles Q-investment et les modèles d'Euler : relations de banque principale, asymétries informationnelles et modifications des structures financières des firmes de keiretsu financier," Cahiers de la Maison des Sciences Economiques bla06010, Université Panthéon-Sorbonne (Paris 1).
  89. Steven M. Fazzari & R. Glenn Hubbard & Bruce C. Petersen, 1996. "Financing Constraints and Corporate Investment: Response to Kaplan and Zingales," NBER Working Papers 5462, National Bureau of Economic Research, Inc.
  90. Bronwyn Hall, 2006. "R&D, productivity and market value," IFS Working Papers W06/23, Institute for Fiscal Studies.
  91. Salas-Fumás, Vicente & Rosell-Martínez, Jorge & Delgado-Gómez, José Manuel, 2016. "Capacity, investment and market power in the economic value of energy firms," Energy Economics, Elsevier, vol. 53(C), pages 28-39.
  92. Karp, Larry & Paul, Thierry, 2007. "Indeterminacy with environmental and labor dynamics," Structural Change and Economic Dynamics, Elsevier, vol. 18(1), pages 100-119, March.
  93. Gema Pastor-Agustin & Manuel Espitia-Escuer & Marisa Ramirez-Aleson, 2007. "A Q Model Investment System in Material and Immaterial Assets," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 43-64.
  94. Cemile Sancak, 2002. "Financial Liberalization and Real Investment; Evidence From Turkish Firms," IMF Working Papers 02/100, International Monetary Fund.
  95. Michael P. O'Malley, 1996. "Tax exhaustion, firm investment, and leasing; a test of the Q model of investment," Finance and Economics Discussion Series 96-31, Board of Governors of the Federal Reserve System (U.S.).
  96. R. Glenn Hubbard, 1997. "Capital-Market Imperfections and Investment," NBER Working Papers 5996, National Bureau of Economic Research, Inc.
  97. Hiroki Arato & Katsunori Yamada, 2012. "Japan's Intangible Capital and Valuation of Corporations in a Neoclassical Framework," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(4), pages 459-478, October.
  98. Shinjo, Koji & Zhang, Xingyuan, 2003. "Productivity analysis of IT capital stock: The USA-Japan comparison," Journal of the Japanese and International Economies, Elsevier, vol. 17(1), pages 81-100, March.
  99. Jacques Mairesse & Benoît Mulkay & Bronwyn H. Hall, 2001. "Investissement des entreprises et contraintes financières en France et aux États-Unis," Économie et Statistique, Programme National Persée, vol. 341(1), pages 67-84.
  100. HAZAMA Makoto & UESUGI Iichiro, 2015. "Heterogeneous Impact of Real Estate Prices on Firm Investment," Discussion papers 15091, Research Institute of Economy, Trade and Industry (RIETI).
  101. Masaharu Hanazaki & Akiyoshi Horiuchi, 2001. "Can the Financial Restraint Hypothesis Explain Japan's Postwar Experience?," CIRJE F-Series CIRJE-F-130, CIRJE, Faculty of Economics, University of Tokyo.
  102. Johann Peter Murmann & Jenny Korn & Hagen Worch, 2014. "How Fast Can Firms Grow?," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 234(2-3), pages 210-233, April.
  103. AKIYOSHI Fumio & KOBAYASHI Keiichiro, 2007. "Bank Distress and Productivity of Borrowing Firms: Evidence from Japan," Discussion papers 07014, Research Institute of Economy, Trade and Industry (RIETI).
  104. Okumura, Tsunao, 1997. "Housing Investment and Residential Land Supply in Japan: An Asset Market Approach," Journal of the Japanese and International Economies, Elsevier, vol. 11(1), pages 27-54, March.
  105. Laurent Soulat, 2006. "Les modèles Q-investissement et les modèles d'Euler," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00085680, HAL.
  106. Miyagawa, Tsutomu & Ito, Yukiko & Harada, Nobuyuki, 2004. "The IT revolution and productivity growth in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 18(3), pages 362-389, September.
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