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| Tekijä: | Ogawa, K. Saito, M. Tokutsu, I. |
| Otsikko: | The flow-of-funds equations of Japanese nonfinancial firms |
| Lehti: | Journal of the Japanese and International Economies
1994 : MAR, VOL. 8:1, p. 72-105 |
| Asiasana: | JAPAN COMPANIES FLOW OF FUNDS ANALYSIS EQUATIONS |
| Kieli: | eng |
| Tiivistelmä: | The portfolio behavior of the Japanese nonfinancial firms in the post-war period is analyzed. The authors' portfolio model is of the Brainard-Tobin type and includes not only financial but also real assets. For their estimation techniques, the authors adopt the method of pooling panel data and time-series data to obtain stable estimates. Based on the estimation results, they examine the factors underlying the vigorous capital investment in the 1960s and early 1970s and the subsequent shift from real to financial investment. |
SCIMA