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Property Rights and Financial Development : The Legacy of Japanese Colonial Institutions
Yoo, Dongwoo - 2010
this line of research to Asia. Japan imposed its system of well-defined property rights in land on some of its Asian … colonies, including Korea, Taiwan and Palau. In 1939 Japan began to survey and register private land in its island colonies, an … land registration obsolete. Third, considering all of Japan's colonies, we use the presence or absence of a land survey as …
Persistent link: https://www.econbiz.de/10013135762
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Did Mergers Help Japanese Mega-Banks Avoid Failure? Analysis of the Distance to Default of Banks
Harada, Kimie - 2010
In the late 1990s, several large Japanese banks failed for the first time in its postwar history. As the financial environment was deteriorating further, several remaining banks decided to merge among themselves, presumably, to make their operations more efficient to avoid failures. This paper...
Persistent link: https://www.econbiz.de/10012758112
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Cross-Border Acquisitions and Target Firms' Performance : Evidence from Japanese Firm-Level Data
Fukao, Kyoji - 2010
acquisition target based on its productivity level, profitability and other characteristics and whether the performance of … acquisitions improved target firms%u2019 productivity and profitability significantly more and quicker than acquisitions by … domestic firms.Moreover, we find that there is no positive impact on target firms%u2019 profitability in the case of both …
Persistent link: https://www.econbiz.de/10012760742
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Acquisitions, Productivity, and Profitability : Evidence from the Japanese Cotton Spinning Industry
Braguinsky, Serguey - 2014
We explore how changes in ownership and managerial control affect the productivity and profitability of producers … gains in capacity utilization that raised both their productivity and profitability levels, consistent with acquiring owner …
Persistent link: https://www.econbiz.de/10013058693
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A Graph Theoretic Approach to Markets for Indivisible Goods
Caplin, Andrew - 2010
Many important markets, such as the housing market, involve goods that are both indivisible and of budgetary significance. We introduce new graph theoretic techniques ideally suited to analyzing such markets. In this paper and its companion (Caplin and Leahy [2010]), we use these techniques to...
Persistent link: https://www.econbiz.de/10013139034
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Intangible Capital and Measured Productivity
McGrattan, Ellen - 2017
Because firms invest heavily in R&D, software, brands, and other intangible assets—at a rate close to that of tangible assets—changes in measured GDP, which does not include all intangible investments, understate the actual changes in total output. If changes in the labor input are more...
Persistent link: https://www.econbiz.de/10012960781
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Accounting for Macro-Finance Trends : Market Power, Intangibles, and Risk Premia
Farhi, Emmanuel - 2018
Real risk-free interest rates have trended down over the past 30 years. Puzzlingly in light of this decline, (1) the return on private capital has remained stable or even increased, creating an increasing wedge with safe interest rates; (2) stock market valuation ratios have increased only...
Persistent link: https://www.econbiz.de/10012907462
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Measuring the Location of Production in a World of Intangible Productive Assets, FDI, and Intrafirm Trade
Lipsey, Robert E. - 2010
As production comes to depend more on intangible productive assets, the location of production by multinational firms becomes increasingly ambiguous. The reason is that, within the firm, these assets have no clear geographical location, but only a nominal location determined by the firm's tax or...
Persistent link: https://www.econbiz.de/10012759116
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Tax Neutrality and Intangible Capital
Fullerton, Don - 2010
Many studies measure capital stocks and effective tax rates for different industries, but they consider only tangible assets such as equipment, structures, inventories, and land. Some of these studies also have estimated that the welfare cost of tax differences among these assets under prior law...
Persistent link: https://www.econbiz.de/10012760243
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Intangible Capital and Economic Growth
Corrado, Carol A. - 2010
Published macroeconomic data traditionally exclude most intangible investment from measured GDP. This situation is beginning to change, but our estimates suggest that as much as $800 billion is still excluded from U.S. published data (as of 2003), and that this leads to the exclusion of more...
Persistent link: https://www.econbiz.de/10012761773