東華大學圖書館 |

Language: English

Help

回圖書館首頁

手機版館藏查詢

Back

Switch To: Labeled | MARC Mode | ISBD

Multiple q and investment in Japan

Asako, Kazumi.

Linked to FindBook

Google Book

Amazon

博客來

Multiple q and investment in Japan

Record Type:	Electronic resources : Monograph/item
Title/Author:	Multiple q and investment in Japan/ by Kazumi Asako, Jun-ichi Nakamura, Konomi Tonogi.
Author:	Asako, Kazumi.
other author:	Nakamura, Jun-ichi.
Published:	Singapore :Springer Singapore : : 2020.,
Description:	xii, 184 p. :ill., digital ;24 cm.
[NT 15003449]:	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.
Contained By:	Springer Nature eBook
Subject:	Investments - Mathematical models. -
Online resource:	https://doi.org/10.1007/978-981-15-2981-8
ISBN:	9789811529818

Multiple q and investment in Japan
Asako, Kazumi.

Multiple q and investment in Japan[electronic resource] /by Kazumi Asako, Jun-ichi Nakamura, Konomi Tonogi. - Singapore :Springer Singapore :2020. - xii, 184 p. :ill., digital ;24 cm.

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.

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.

ISBN: 9789811529818

Standard No.: 10.1007/978-981-15-2981-8doiSubjects--Topical Terms:

549985
Investments
--Mathematical models.

LC Class. No.: HG4515.2

Dewey Class. No.: 332.6

Multiple q and investment in Japan
LDR:02860nmm a2200337 a 4500 001 2255848
003 DE-He213
005 20201222101413.0
006 m d
007 cr nn 008maaau
008 220420s2020 si s 0 eng d
020 $a 9789811529818 $q (electronic bk.)
020 $a 9789811529801 $q (paper)
024 7 $a 10.1007/978-981-15-2981-8 $2 doi
035 $a 978-981-15-2981-8
040 $a GP $c GP
041 0 $a eng
050 4 $a HG4515.2
072 7 $a KCB $2 bicssc
072 7 $a BUS039000 $2 bisacsh
072 7 $a KCB $2 thema
072 7 $a KCBM $2 thema
082 0 4 $a 332.6 $2 23
090 $a HG4515.2 $b .A798 2020
100 1 $a Asako, Kazumi. $3 3525664
245 1 0 $a Multiple q and investment in Japan $h [electronic resource] / $c by Kazumi Asako, Jun-ichi Nakamura, Konomi Tonogi.
260 $a Singapore : $b Springer Singapore : $b Imprint: Springer, $c 2020.
300 $a xii, 184 p. : $b ill., digital ; $c 24 cm.
505 0 $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.
520 $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.
650 0 $a Investments $x Mathematical models. $3 549985
650 0 $a Macroeconomics. $3 648810
650 1 4 $a Macroeconomics/Monetary Economics//Financial Economics. $3 2162289
650 2 4 $a Asian Economics. $3 2191385
650 2 4 $a Corporate Finance. $2 swd $3 1655050
700 1 $a Nakamura, Jun-ichi. $3 3216527
700 1 $a Tonogi, Konomi. $3 3525665
710 2 $a SpringerLink (Online service) $3 836513
773 0 $t Springer Nature eBook
856 4 0 $u https://doi.org/10.1007/978-981-15-2981-8
950 $a Economics and Finance (SpringerNature-41170)