Journal of the Japanese and International Economies最新文献_第5页

The effects of credit lines on cash holdings and capital investment: Evidence from Japan 信贷额度对现金持有和资本投资的影响：来自日本的证据

IF 2.9 3区经济学

Journal of the Japanese and International Economies Pub Date : 2023-03-01 DOI: 10.1016/j.jjie.2022.101241

Tomohito Honda

{"title":"The effects of credit lines on cash holdings and capital investment: Evidence from Japan","authors":"Tomohito Honda","doi":"10.1016/j.jjie.2022.101241","DOIUrl":"https://doi.org/10.1016/j.jjie.2022.101241","url":null,"abstract":"<div><p>This study examines how credit lines affect corporate cash holdings and capital investment using a hand-collected data on publicly traded Japanese firms from 2006 to 2017. The study compares firms with and without credit lines to investigate the effects of credit lines. The empirical results are as follows: (1) Firms with credit lines hold smaller cash reserves than those without; (2) Firms with credit lines undertake more capital investment than those without; (3) The effects of credit lines are more amplified for financially constrained firms than their counterpart; (4) A close bank–firm relationship plays a positive role in the effect of credit lines on corporate activities.</p><p>These empirical findings indicate that credit lines can improve firms’ financial flexibility and allow them to use cash holdings held for precautionary reasons to invest. The results also show that credit lines and the attendant implicit bank–firm relationships are complementary to each other. Moreover, having both credit lines and a close bank–firm relationship is important to Japanese firms for their corporate activities. Furthermore, the results imply that the use of credit lines is still relatively undeveloped in Japan, which may be a reason for the country's large corporate savings and lackluster investment.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49777878","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Labor market concentration and heterogeneous effects on wages: Evidence from Japan 劳动力市场集中与工资的异质性影响——来自日本的证据

IF 2.9 3区经济学

Journal of the Japanese and International Economies Pub Date : 2023-03-01 DOI: 10.1016/j.jjie.2022.101242

Atsuko Izumi , Naomi Kodama , Hyeog Ug Kwon

引用次数: 0

The effect of aging on the age–wage profile in Japan 老龄化对日本年龄工资结构的影响

IF 2.9 3区经济学

Journal of the Japanese and International Economies Pub Date : 2022-12-01 DOI: 10.1016/j.jjie.2022.101230

Toshikatsu Inoue

引用次数: 0

Can child benefit reductions increase maternal employment? Evidence from Japan 减少儿童福利能增加产妇就业吗?来自日本的证据

IF 2.9 3区经济学

Journal of the Japanese and International Economies Pub Date : 2022-12-01 DOI: 10.1016/j.jjie.2022.101231

Shinsuke Asakawa , Masaru Sasaki

{"title":"Can child benefit reductions increase maternal employment? Evidence from Japan","authors":"Shinsuke Asakawa , Masaru Sasaki","doi":"10.1016/j.jjie.2022.101231","DOIUrl":"10.1016/j.jjie.2022.101231","url":null,"abstract":"<div><p>This study estimates the policy impacts of the resumption of income thresholds for receiving child benefits (CB), in April 2012, on maternal labor market participation, childcare services use, and child health outcomes in Japan. Using data from the Longitudinal Survey of Newborns in the 21st Century and employing a regression discontinuity design, we found that the reduction of CB payments in higher-earning households, where the annual income of the household head exceeded their threshold, promoted intensive and extensive margins of maternal labor supply, especially for part-time workers and the self-employed. Furthermore, mothers returned to the workplace using non-accredited childcare and increasing the total childcare costs but having no impact on children's health outcomes. Heterogeneous effects were also observed in prefectures with low availability of accredited childcare; mothers incurring CB reduction used non-accredited childcare to start full-time employment. These findings imply that CB reduction had the advantage of encouraging maternal employment and, especially in prefectures with few childcare facilities, increasing the number of accredited childcare centers and that reducing the price of non-accredited childcare services can make it easier for mothers to return to the workforce after giving birth.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82544901","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Decreasing wage returns to human capital: Analysis of wage and job experience using micro data of workers☆ 工资报酬对人力资本的递减:基于工人微观数据的工资与工作经验分析

IF 2.9 3区经济学

Journal of the Japanese and International Economies Pub Date : 2022-12-01 DOI: 10.1016/j.jjie.2022.101217

Taro Kimura, Yoshiyuki Kurachi, Tomohiro Sugo

引用次数: 5

Quantifying the impact of the Tokyo Olympics on COVID-19 cases using synthetic control methods 利用综合控制方法量化东京奥运会对COVID-19病例的影响

IF 2.9 3区经济学

Journal of the Japanese and International Economies Pub Date : 2022-12-01 DOI: 10.1016/j.jjie.2022.101228

Taro Esaka , Takao Fujii

引用次数: 3

Bank–firm relationship and loan maturity: Evidence from Japanese SMEs 银企关系与贷款期限:来自日本中小企业的证据

IF 2.9 3区经济学

Journal of the Japanese and International Economies Pub Date : 2022-12-01 DOI: 10.1016/j.jjie.2022.101229

Islam Kachkach , Hirofumi Uchida

引用次数: 0

Displacement effects of public libraries 公共图书馆的位移效应

IF 2.9 3区经济学

Journal of the Japanese and International Economies Pub Date : 2022-12-01 DOI: 10.1016/j.jjie.2022.101219

Kyogo Kanazawa , Kohei Kawaguchi

引用次数: 1

Impacts of firm's GVC participation on productivity: A case of Japanese firms 企业参与全球价值链对生产率的影响——以日本企业为例

IF 2.9 3区经济学

Journal of the Japanese and International Economies Pub Date : 2022-12-01 DOI: 10.1016/j.jjie.2022.101232

Shujiro Urata , Youngmin Baek

{"title":"Impacts of firm's GVC participation on productivity: A case of Japanese firms","authors":"Shujiro Urata , Youngmin Baek","doi":"10.1016/j.jjie.2022.101232","DOIUrl":"https://doi.org/10.1016/j.jjie.2022.101232","url":null,"abstract":"<div><p>This article examined the effect of participation in global value chains (GVCs) on productivity for Japanese manufacturing firms by using firm-level data obtained from the Basic Survey of Japanese Business Structure and Activities [Kigyo Katsudo Kihon Chosa], Ministry of Economy, Trade and Industry. We define a firm engaged in both importing and exporting as a GVC firm. Our analysis is conducted for the period 1994–2018, and it covers approximately 10,000 firms for each year with some variations during the period. We combine the Propensity Score Matching (PSM) and Difference in Differences (DID) estimation methods, in order to examine the impact of a shift from non-GVC firm to GVC firm, or participation in GVC by a non-GVC firm, on its productivity. To test the importance of experiences in GVC participation on productivity (learning effect), we estimated the impact not only for the first year of GVC participation but also for subsequent five years. Our analysis showed the impact of GVC participation on productivity is positive for our 110 estimations with few exceptions, and the estimated coefficients are statistically significant for approximately 35 percent of the cases. These findings indicate that the impact of GVC participation on productivity for Japanese manufacturing firms is generally positive, but the impact is not very strong. We also found that the magnitude of positive coefficient increased over time, indicating that it takes GVC participating firms time and experiences to assimilate new technology and management know-how they acquired through GVC participation.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":null,"pages":null},"PeriodicalIF":2.9,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136799224","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Erratum to ‘Political conflict and angry consumers: Evaluating the regional impacts of a consumer boycott on travel services trade’ [Journal of the Japanese and International Economies 65 (2022) Article Number 101216] “政治冲突和愤怒的消费者:评估消费者抵制对旅游服务贸易的区域影响”[日本与国际经济杂志65(2022)第101216期]

IF 2.9 3区经济学

Journal of the Japanese and International Economies Pub Date : 2022-12-01 DOI: 10.1016/j.jjie.2022.101227

JaeBin Ahn , Theresa M. Greaney , Kozo Kiyota

引用次数: 0