Journal of the Japanese and International Economies最新文献

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Tariff Pass-through in Wholesaling: Evidence from Firm-level Data in Japan✰ 批发中的关税传递:来自日本企业层面数据的证据
IF 2.9 3区 经济学
Journal of the Japanese and International Economies Pub Date : 2021-12-01 DOI: 10.1016/j.jjie.2021.101164
Youngmin Baek , Kazunobu Hayakawa , Kenmei Tsubota , Shujiro Urata , Kenta Yamanouchi
{"title":"Tariff Pass-through in Wholesaling: Evidence from Firm-level Data in Japan✰","authors":"Youngmin Baek ,&nbsp;Kazunobu Hayakawa ,&nbsp;Kenmei Tsubota ,&nbsp;Shujiro Urata ,&nbsp;Kenta Yamanouchi","doi":"10.1016/j.jjie.2021.101164","DOIUrl":"10.1016/j.jjie.2021.101164","url":null,"abstract":"<div><p>Tariff pass-through is critical for considering the benefits of trade liberalization, the beneficiaries, and the extent. This study empirically examines the tariff pass-through in wholesaling through the wholesale firm-level data in Japan. In particular, the study focuses on wholesalers’ margin ratio, that is, (sales – procurements) / sales. We address the endogeneity concerns on the measurement errors of the study variables of margin ratio and tariffs. Consequently, the study found that importing wholesalers significantly raised their margin ratio against tariff reduction. On average, a 1 percentage point reduction of tariffs raised the margin ratio by approximately 0.25 percentage point. This rise is equivalent to that of sales prices to procurement prices by about 0.34 %, indicating that Japanese wholesalers capture one-third of the tariff rent. However, the study also found that a tariff reduction lowers the margin ratio of wholesalers who procure their products from domestic producers.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"62 ","pages":"Article 101164"},"PeriodicalIF":2.9,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jjie.2021.101164","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"97283060","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: 4
Female CEOs on Japanese corporate boards and firm performance 日本公司董事会中的女性首席执行官与公司业绩
IF 2.9 3区 经济学
Journal of the Japanese and International Economies Pub Date : 2021-12-01 DOI: 10.1016/j.jjie.2021.101163
Katsuyuki Kubo, Thanh Thi Phuong Nguyen
{"title":"Female CEOs on Japanese corporate boards and firm performance","authors":"Katsuyuki Kubo,&nbsp;Thanh Thi Phuong Nguyen","doi":"10.1016/j.jjie.2021.101163","DOIUrl":"10.1016/j.jjie.2021.101163","url":null,"abstract":"<div><p>This paper examines the effects of female chief executive officers (CEOs) on firm performance. Using data on nonfinancial listed firms in Japan, we show that only 0.8% of some 42,000 firm-year observations have female CEOs. There is also little evidence that firms appoint more females as CEOs during our sample period. While the stock market reacts positively to the introduction of a firm's first female CEO, the relationship between CEO gender and firm accounting performance is generally not strong. However, when we classify the type of female CEO, the estimated coefficient for a founder female CEO and Tobin's Q is positive and significant.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"62 ","pages":"Article 101163"},"PeriodicalIF":2.9,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jjie.2021.101163","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79887314","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: 9
Who can work from home? The roles of job tasks and HRM practices 谁可以在家工作?工作任务和人力资源管理实践的角色
IF 2.9 3区 经济学
Journal of the Japanese and International Economies Pub Date : 2021-12-01 DOI: 10.1016/j.jjie.2021.101162
Daiji Kawaguchi , Hiroyuki Motegi
{"title":"Who can work from home? The roles of job tasks and HRM practices","authors":"Daiji Kawaguchi ,&nbsp;Hiroyuki Motegi","doi":"10.1016/j.jjie.2021.101162","DOIUrl":"10.1016/j.jjie.2021.101162","url":null,"abstract":"<div><p>This paper examines the characteristics of remote work using a unique Japanese survey dataset that provides information on engagement in remote work together with the specific job tasks and human resource management (HRM) characteristics workers face. We show that the opportunity to work remotely was more likely to be available to those engaged in non-routine tasks as well as to workers subject to HRM practices presupposing that worker performance is measurable. The implications of these findings for income transfer policies and management practices in light of the COVID-19 pandemic are also discussed.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"62 ","pages":"Article 101162"},"PeriodicalIF":2.9,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jjie.2021.101162","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80000989","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: 27
No Successor, No Success? Impact of a Little Son on Business Performance 没有后继者,就没有成功?小儿子对企业绩效的影响
IF 2.9 3区 经济学
Journal of the Japanese and International Economies Pub Date : 2021-12-01 DOI: 10.1016/j.jjie.2021.101169
Naomi Kodama , Yoshiaki Murakami , Mari Tanaka
{"title":"No Successor, No Success? Impact of a Little Son on Business Performance","authors":"Naomi Kodama ,&nbsp;Yoshiaki Murakami ,&nbsp;Mari Tanaka","doi":"10.1016/j.jjie.2021.101169","DOIUrl":"10.1016/j.jjie.2021.101169","url":null,"abstract":"<div><p>The dynasty model, which assumes the presence of intergenerational altruism<span>, implies that business owners will have more incentive to improve the firm’s performance if they expect their children to take over the firms. This study empirically examines how top managers’ expectations about future family succession affect the performance of small family firms. Exploiting the sex of the top manager’s first-born child as an instrumental variable for the manager’s expectations about business succession by his child, we find that the existence of a potential family successor has a positive effect on profit. We also find that the presence of a potential family successor induces business expansion and the managers’ actions to enhance performance, such as improving operational efficiency and investing in information technology.</span></p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"62 ","pages":"Article 101169"},"PeriodicalIF":2.9,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88722282","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: 1
Juggling paid work and elderly care provision in Japan: Does a flexible work environment help family caregivers cope? 在日本平衡带薪工作和老年人护理:灵活的工作环境是否有助于家庭照顾者应对?
IF 2.9 3区 经济学
Journal of the Japanese and International Economies Pub Date : 2021-12-01 DOI: 10.1016/j.jjie.2021.101171
Yoko Niimi
{"title":"Juggling paid work and elderly care provision in Japan: Does a flexible work environment help family caregivers cope?","authors":"Yoko Niimi","doi":"10.1016/j.jjie.2021.101171","DOIUrl":"10.1016/j.jjie.2021.101171","url":null,"abstract":"<div><p>Using unique data from a Japanese survey, this paper examines whether flexible work arrangements targeted specifically at workers with caregiving responsibilities under the Child Care and Family Care Leave Act help family caregivers reconcile paid work with care provision. The regression results suggest that access to caregiver leave, which allows family caregivers to take a continuous leave of up to 93 days, is negatively and significantly associated with the probability of leaving one's job within one year of the onset of demand for parental care. This alleviating effect of access to caregiver leave remains robust even in the longer term and in a specification where we take into account the possible endogeneity of care provision to the labor supply decision. The findings of this paper thus suggest that the caregiver leave introduced pursuant to the Act in Japan helps meet the need of family caregivers to take a certain period of time off from work to make the necessary arrangements for accommodating the sudden and unexpected demand for elderly care in their daily lives.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"62 ","pages":"Article 101171"},"PeriodicalIF":2.9,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0889158321000502/pdfft?md5=f24b2828b07636e245e78815daaa313b&pid=1-s2.0-S0889158321000502-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75436980","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
What types of houses remain vacant? Evidence from a municipality in Tokyo, Japan 哪些类型的房子仍然空置?证据来自日本东京的一个自治市
IF 2.9 3区 经济学
Journal of the Japanese and International Economies Pub Date : 2021-12-01 DOI: 10.1016/j.jjie.2021.101167
Yuki Kanayama , Taisuke Sadayuki
{"title":"What types of houses remain vacant? Evidence from a municipality in Tokyo, Japan","authors":"Yuki Kanayama ,&nbsp;Taisuke Sadayuki","doi":"10.1016/j.jjie.2021.101167","DOIUrl":"10.1016/j.jjie.2021.101167","url":null,"abstract":"<div><p>Preventing the occurrence of vacant houses and reutilizing existing vacant houses are two known ways of addressing housing vacancies. This study uses parcel-level data on single-family houses in the municipality of Toshima in Tokyo, Japan, to examine determinants of the occurrence and reutilization of vacant houses. The data reveal that, conditional on land prices, houses with restricted and costly redevelopment opportunities are more likely to become vacant. The results suggest that owners with such properties disregard the redevelopment potential and, as a result, tend to have a high reservation price relative to the market value. Consequently, owners face difficulty finding a transaction partner and even become reluctant to engage in a deal (i.e., they withdraw from the market). The results also suggest that revitalization of the neighborhood community may contribute to activating vacant houses. Local governments can use an empirical assessment such as this to implement efficient measures by targeting houses that have a high probability of becoming and remaining vacant.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"62 ","pages":"Article 101167"},"PeriodicalIF":2.9,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jjie.2021.101167","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89356001","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: 3
Immigration policy and demographic dynamics: Welfare analysis of an aging Japan 移民政策与人口动态:老龄化日本的福利分析
IF 2.9 3区 经济学
Journal of the Japanese and International Economies Pub Date : 2021-12-01 DOI: 10.1016/j.jjie.2021.101168
Akira Okamoto
{"title":"Immigration policy and demographic dynamics: Welfare analysis of an aging Japan","authors":"Akira Okamoto","doi":"10.1016/j.jjie.2021.101168","DOIUrl":"10.1016/j.jjie.2021.101168","url":null,"abstract":"<div><p>This study quantified the effects of immigration policies in an aging and depopulating Japan. Under a constant total number of immigrants, it focused on the optimal period for an immigration policy that maximized per-capita utility. Simulation results, based on an extended lifecycle simulation model with endogenous fertility, showed that a longer period immigration policy increased the future population and enhanced long-run economic growth. Conversely, a shorter period immigration policy enhanced economic growth in earlier years but less so in the long run. This study found that an optimal duration for an immigration policy, under the standard parameter settings for Japan, was nine years; this finding was derived through reconciling the merits and demerits between shorter and longer period immigration policies.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"62 ","pages":"Article 101168"},"PeriodicalIF":2.9,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jjie.2021.101168","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82048399","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: 5
The aging society, savings rates, and regional flow of funds in Japan 日本老龄化社会、储蓄率与区域资金流动
IF 2.9 3区 经济学
Journal of the Japanese and International Economies Pub Date : 2021-12-01 DOI: 10.1016/j.jjie.2021.101165
Shin-ichi Fukuda , Koki Okumura
{"title":"The aging society, savings rates, and regional flow of funds in Japan","authors":"Shin-ichi Fukuda ,&nbsp;Koki Okumura","doi":"10.1016/j.jjie.2021.101165","DOIUrl":"10.1016/j.jjie.2021.101165","url":null,"abstract":"<div><p>This study examines the impact of population aging on regional savings rates in Japan, with particular attention to the regional flow of funds. Population aging has a positive impact on the average savings rate when the working-age population is large, it but has a negative impact when the working-age population decreases. Our empirical results, based on prefecture-level panel data, support the theoretical implication. After the mid-1990s, the working-age population declined, and the retired age population increased in many prefectures. As a result, population aging, which had a positive effect on the regional savings rate until the mid-1990s, came to have a negative effect thereafter. The empirical results suggest that in rural economies where deposits exceeded loans in the past, deposits are expected to decline due to the aging of society, resulting in a shortage of funds in the near future.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"62 ","pages":"Article 101165"},"PeriodicalIF":2.9,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jjie.2021.101165","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123143476","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: 8
The macroeconomic effects of monetary policy: Evidence from Japan 货币政策的宏观经济效应:来自日本的证据
IF 2.9 3区 经济学
Journal of the Japanese and International Economies Pub Date : 2021-09-01 DOI: 10.1016/j.jjie.2021.101149
Ryoya Nagao , Yoshihiro Kondo , Yoshiyuki Nakazono
{"title":"The macroeconomic effects of monetary policy: Evidence from Japan","authors":"Ryoya Nagao ,&nbsp;Yoshihiro Kondo ,&nbsp;Yoshiyuki Nakazono","doi":"10.1016/j.jjie.2021.101149","DOIUrl":"10.1016/j.jjie.2021.101149","url":null,"abstract":"<div><p>This study examines the macroeconomic effects of monetary policy in Japan. We apply the new identification strategy proposed by Bu et al. (2021) to the Japanese case and estimate monetary policy shocks that bridge periods of conventional and unconventional monetary policymaking. We show the macroeconomic effects of monetary policy; a contractionary monetary policy shock significantly decreases output and inflation rates even under the effective lower bound. However, because the shorter-term and longer-term nominal interest rates are already close to zero, the magnitude of monetary policy shocks on the macroeconomic variables is modest.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"61 ","pages":"Article 101149"},"PeriodicalIF":2.9,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jjie.2021.101149","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89499142","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: 4
Share repurchases on the Tokyo Stock Exchange Trading Network 东京证券交易所交易网络上的股票回购
IF 2.9 3区 经济学
Journal of the Japanese and International Economies Pub Date : 2021-09-01 DOI: 10.1016/j.jjie.2021.101148
Koji Ota , David Lau
{"title":"Share repurchases on the Tokyo Stock Exchange Trading Network","authors":"Koji Ota ,&nbsp;David Lau","doi":"10.1016/j.jjie.2021.101148","DOIUrl":"https://doi.org/10.1016/j.jjie.2021.101148","url":null,"abstract":"<div><p>Tokyo Stock Exchange Trading Network (ToSTNeT) is a unique market in Japan in which firms can repurchase their shares during off-auction hours at a fixed price within a very short timeframe. In this study, we uncover a drawback in ToSTNeT which appears to have been exploited by managers of the repurchasing firms to favour certain sellers who have close economic ties with the firms. Further investigations reveal that it is impractical for retail investors to sell their shares on ToSTNeT. Our study proposes recommendations of regulatory and policy changes for the Tokyo Stock Exchange that may help tighten the loophole in ToSTNeT and safeguard the integrity of share repurchases in Japan.</p></div>","PeriodicalId":47082,"journal":{"name":"Journal of the Japanese and International Economies","volume":"61 ","pages":"Article 101148"},"PeriodicalIF":2.9,"publicationDate":"2021-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jjie.2021.101148","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91640349","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
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