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200827s2020 si ob 000 0 eng d |
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|a HG4515.2
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| 049 |
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|a HCDD
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| 100 |
1 |
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|a Asako, Kazumi,
|d 1951-
|1 https://id.oclc.org/worldcat/entity/E39PBJbRjPJHdHcHWfcWbdMXVC
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| 245 |
1 |
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|a Multiple q and investment in Japan /
|c Kazumi Asako, Jun-ichi Nakamura, Konomi Tonogi.
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|a Singapore :
|b Springer,
|c 2020.
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| 300 |
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|a 1 online resource
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| 336 |
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|a text
|b txt
|2 rdacontent
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| 337 |
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|a computer
|b c
|2 rdamedia
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| 338 |
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|a online resource
|b cr
|2 rdacarrier
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| 347 |
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|a text file
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|b PDF
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|a 1 Survey of the Literature -- 2 Augmentations to Multiple q Theory -- 3 Construction and Summary Statistics of the Data -- 4 Investment Behavior of Japanese Firms -- 5 Extensions of the Multiple q Model: (I) Heterogeneity by Enterprise Size -- 6 Extensions of the Multiple q Model: (II) Heterogeneity by Mode of Acquisition -- 7 Heterogeneity of Capital: Concluding Remarks.
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|a Includes bibliographical references.
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|a In this book, a framework of the investment function is developed that allows for the heterogeneity of capital goods, i.e., the Multiple q model, and investment behavior in Japan by employing this Multiple q framework is developed. The standard approach to investment behavior is Tobin's q theory in which the investment rate is a linear function of only the q ratio, or a firm's market value measured by its capital goods. As is well known, however, its empirical performance has been almost universally unsatisfactory. Thus the development of a new framework. The authors inquire into and statistically test null hypotheses set on such issues as (a) heterogeneity of multiple capital goods, (b) non-convex adjustment costs to inspire lumpy investment, (c) differences in the adjustment costs in accumulating capital stock through new purchases, second-hand market acquisitions, and large-scale repairs, and (d) capital market imperfections. The test results show that, irrespective of the time period, firms size, and the industry to which firms belong, (a) multiple capital goods are not homogeneous, (b) some firms face adjustment cost structures that eventually lead to occasional lumpy investment, (c) the method of acquiring investment matters in accumulating capital stock, and (d) capital market imperfections would constrain some lumpy investment. This book is published in cooperation with the Research Institute of Capital Formation, Development Bank of Japan.
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|a Investments
|x Mathematical models.
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|a Macroeconomics.
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| 650 |
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7 |
|a Economics.
|2 bicssc
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| 650 |
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|a Corporate finance.
|2 bicssc
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| 650 |
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|a Macroeconomics.
|2 bicssc
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|a Business & Economics
|x Economics
|x General.
|2 bisacsh
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|a Business & Economics
|x Corporate Finance.
|2 bisacsh
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| 650 |
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|a Business & Economics
|x Economics
|x Macroeconomics.
|2 bisacsh
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| 650 |
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7 |
|a Investments
|x Mathematical models
|2 fast
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| 650 |
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7 |
|a Macroeconomics
|2 fast
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| 700 |
1 |
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|a Nakamura, Jun-ichi.
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| 700 |
1 |
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|a Tonogi, Konomi.
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| 758 |
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|i has work:
|a Multiple q and investment in Japan (Text)
|1 https://id.oclc.org/worldcat/entity/E39PCGJWQqyc9JP4bCfgDmKVQ3
|4 https://id.oclc.org/worldcat/ontology/hasWork
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| 776 |
0 |
8 |
|i Print version:
|a Asako, Kazumi, 1951-
|t Multiple q and investment in Japan.
|d Singapore : Springer, 2020
|z 9811529809
|z 9789811529801
|w (OCoLC)1134446359
|
| 856 |
4 |
0 |
|u https://holycross.idm.oclc.org/login?auth=cas&url=https://link.springer.com/10.1007/978-981-15-2981-8
|y Click for online access
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| 903 |
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|a SPRING-ECON2020
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| 994 |
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|a 92
|b HCD
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