{"id":6299,"date":"2019-05-27T10:01:54","date_gmt":"2019-05-27T01:01:54","guid":{"rendered":"https:\/\/www.waseda.jp\/inst\/wias\/?p=6299"},"modified":"2019-05-27T10:02:23","modified_gmt":"2019-05-27T01:02:23","slug":"__trashed-2-37","status":"publish","type":"post","link":"https:\/\/www.waseda.jp\/inst\/wias\/news-en\/2019\/05\/27\/6299\/","title":{"rendered":"Waseda Organizational and Financial Economics Seminar:  &#8220;Physical investment of Japanese firms during QE and non-QE periods: Did the transmission mechanism work?&#8221;(June 10)"},"content":{"rendered":"<h4>Waseda Organizational and Financial Economics Seminar:<br \/>\n&#8220;Physical investment of Japanese firms during QE and non-QE periods: Did the transmission mechanism work?&#8221; (June 10)<\/h4>\n<h5>\u8b1b\u6f14\u8005 \/ Speaker<\/h5>\n<p><a href=\"http:\/\/researchers.waseda.jp\/profile\/en.84142aec89e4308a275ba9666000a2a3.html\">BAAK, Saang Joon<\/a> \uff08Professor, Waseda University\uff09<\/p>\n<ul>\n<li><span style=\"text-decoration: underline;\">Field of Research Interests<\/span><br \/>\nHeterogeneous expectations, dynamic economics, exchange rate, trade<\/li>\n<\/ul>\n<h5>\u65e5\u3000\u6642 \/ Date &amp; Time<\/h5>\n<p>Monday, 10 June 2019, 13:00 \u2013 14:30<\/p>\n<h5>\u4f1a\u3000\u5834 \/ Venue<\/h5>\n<p><a href=\"https:\/\/www.waseda.jp\/top\/en\/access\/waseda-campus\">Rm. #1111 on the 11th floor, Building #11, Waseda University<\/a><\/p>\n<h5>\u4e3b\u3000\u65e8 \/ Outline<\/h5>\n<p>&#8220;Physical investment of Japanese firms during QE and non-QE periods: Did the transmission mechanism work?&#8221;<\/p>\n<p style=\"text-align: justify;\">This paper investigates whether the quantitative easing policy influenced physical investment decisions of Japanese publicly listed firms through neoclassical and non-neoclassical transmission channels using their financial statement data from 1991 to 2016.<br \/>\nEmpirical test results estimated by the system GMM indicate that, during the QE period, the neoclassical channel encouraged investment through Tobin\u2019s q and the non-neoclassical channel also worked through balance sheet effects.<br \/>\nOperating income and ownership structures are also found as determinants of firm investment since 1991 in Japan. In addition, the effect of financial leverage is estimated to be negative in general.<br \/>\nHowever, its impact turns out be somewhat different depending on the capital size of firms.<\/p>\n<h5>\u30d7\u30ed\u30b0\u30e9\u30e0 \/ Schedule<\/h5>\n<p>13:00\uff5e13:05 Opening Remarks \uff08MIYAJIMA,\u00a0Hideaki (Advisor, WIAS \/ Professor, Waseda University)\uff09<br \/>\n13:05\uff5e14:05 Presentation (*in English)<br \/>\n14:05\uff5e14:25 Question-and-answer session<br \/>\n14:25\uff5e14:30 Concluding Remarks\uff08MIYAJIMA,\u00a0Hideaki \uff09<\/p>\n<h5>\u5bfe\u3000\u8c61 \/ Prospected Audience<\/h5>\n<p>Faculty and staff members of a university, grad students, undergraduates, the general public<\/p>\n<h5>\u4e3b\u3000\u50ac \/ Organizer<\/h5>\n<p>Research Institute of Business Administration, Waseda University<br \/>\nWaseda Institute for Advanced Study, Waseda University<\/p>\n<h5>\u7533\u8fbc\u307f \/ Registration<\/h5>\n<p>Free of charge. Please come to the event venue directly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Waseda Organizational and Financial Economics Seminar: &#8220;Physical investment of Japanese firms during QE  [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":2762,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[95],"tags":[82,94,73],"class_list":["post-6299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-events-en","tag-general-en","tag-research-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/posts\/6299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/comments?post=6299"}],"version-history":[{"count":0,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/posts\/6299\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/media\/2762"}],"wp:attachment":[{"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/media?parent=6299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/categories?post=6299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.waseda.jp\/inst\/wias\/wp-json\/wp\/v2\/tags?post=6299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}