This paper analyzes the role of university research in industrial innovation by different phases of the technology life cycle (TLC) and by patent analysis of solar cell technology. It is found that, in the early phase of TLC, the role of academic research is to broaden the technology scope to...

This paper evaluates the impact of the European Central Bank's (ECB) unconventional policies on bank and government borrowing costs. We employ event-based regressions to assess and compare the effects of asset purchases and exceptional liquidity announcements on the money markets, covered bond...

In this paper, we assess the impact of the securities transaction tax (STT) introduced in France in 2012 on market liquidity and volatility. To identify causality, we rely on the unique design of this tax that is imposed only on large French firms, all of which are listed on Euronext. This...

In operating international investment agreements (IIAs), the old bi-polar framework, where an investor deals with the host state with the support of his home state, has been replaced gradually by a triangle relationship. A home state does not necessarily have a community of interests with...

A "general exception clause" can be found in some International Investment Agreements (IIAs), including those concluded by Japan. However, there is no prevailing definition of the concept. Consequently, this paper first clarifies the concept before examining it from the perspective of the...

This paper examines the relationship between productivity, markups, and development of foreign markets using a rich firm-level dataset of the Japanese manufacturing industry during the period 2000-2010. Using estimates of firm-specific productivity and markups, we investigate if the development...

This paper provides a methodology for demand aggregation with rigorous micro foundation by using the probability distribution function. In the model setting, a set of agents defined by a similar type of attributes is approximated as one representative agent with probability error. By introducing...

We use an international oligopoly model to explore the effects of reductions in trade cost (non-tariff barrier) and travel cost on the domestic and foreign economies, when the choice of the foreign direct investment (FDI) production level is endogenous. In the case where the home firm produces...

Using comprehensive data of Japanese firms, including small-sized and unlisted firms, this paper empirically analyzes the relationship of initial public offerings (IPOs) and the governing boards. The results show that board size, interlocks with other firms, and interlocks with other listed...

This paper investigates whether China's exports to the United States are an outlier. Gravity model results indicate that these exports have exceeded their predicted values by more than $100 billion in every year since 2005, and that both processed exports produced within regional value chains...