Firm Investment And Balance Sheet Problems In Japan

Author : Mr.Toshitaka Sekine
Publisher : International Monetary Fund
ISBN 13 : 1451853459
Total Pages : 33 pages
Book Rating : 4.52/5 ( download)

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Download or read book Firm Investment and Balance-Sheet Problems in Japan written by Mr.Toshitaka Sekine and published by International Monetary Fund. This book was released on 1999-08-01 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates whether balance-sheet conditions of firms and their main banks matter for firm investment behavior using dynamic corporate panel data in Japan for the period 1985-95. It finds that smaller non-bond issuing firms were facing liquidity constraints; these firms’ balance-sheet conditions (the debt asset ratios) affected their investment from the midst of the bubble era by influencing main banks’ lending to them; and the deterioration of their main banks’ balance-sheet conditions constrained these firms’ investment from about 1993. These findings highlight the potential macroeconomic impact and importance of the credit channel of monetary policy, and support the case of a credit crunch facing small Japanese firms during this period.

Author : Mr.Joong Kang
Publisher : International Monetary Fund
ISBN 13 : 1498388833
Total Pages : 21 pages
Book Rating : 4.32/5 ( download)

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Download or read book Balance Sheet Repair and Corporate Investment in Japan written by Mr.Joong Kang and published by International Monetary Fund. This book was released on 2014-08-04 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: We trace Japanese firms’ behavior over the last decades using aggregate corporate balance sheet data. Financial health of Japanese corporate sector has improved and firms paid back significant amount of debt and rebuilt their liquidity buffers. They also expanded abroad while the pace of corporate investment moderated. Regarding the latter, model estimates on aggregate corporate investment over the post bubble period show that expectation about future profitability, in particular medium-term demand outlook, has been the major driver, implying that a successful implementation of structural reforms could have positive impact even in the near term by improving the medium-term demand outlook.

Author : Yugo Koshima
Publisher : International Monetary Fund
ISBN 13 : 1513514520
Total Pages : 41 pages
Book Rating : 4.29/5 ( download)

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Download or read book Japan's Public Sector Balance Sheet written by Yugo Koshima and published by International Monetary Fund. This book was released on 2019-10-04 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper compiles and reviews the evolution of Japan’s Public Sector Balance Sheet (PSBS). In the past, large crossholdings of assets and liabilities within the public sector played a role in sustaining a high level of public debt and low interest rates. The Fiscal Investment and Loan Fund (FILF) channeled all postal deposits and pension savings to financing of public sector borrowing. After the FILF refrom in 2000, however, the Post Bank and pension funds shifted their assets to the portfolio investments and are seeking to maximize risk-adjusted returns. This has changed the implications of crossholdings for public debt management. In the future, population aging is expected to add more pressures on the PSBS, which already saw a considerable decrease of net worth over the last three decades.

Author : Robert J. Ballon
Publisher : Kodansha
ISBN 13 :
Total Pages : 336 pages
Book Rating : 4.02/5 ( download)

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Download or read book Financial Reporting in Japan written by Robert J. Ballon and published by Kodansha. This book was released on 1976 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Richard Koo
Publisher :
ISBN 13 :
Total Pages : 310 pages
Book Rating : 4.11/5 ( download)

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Download or read book Balance Sheet Recession written by Richard Koo and published by . This book was released on 2003-10-24 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this groundbreaking book, leading international economist, Richard Koo argues that far from being the sick man of Asia, Japan is suffering from a temporary but highly unusual economic aberration. Economists and business commentators have always assumed that the majority of companies in any economy are forward looking and are trying to maximize profits. They never considered the possibility that a vast majority of companies may be placing their highest priorities on minimizing debt in order to repair their balance sheets. But that remote possibility has been the reality in Japan for the past decade, and more recently in many other countries including at least a part of the US. Balance Sheet Recession argues that contrary to popular belief, it is this massive shift in corporate behavior, instead of structural problems, that is the root cause of both the deflation and the non-performing loan problems that have troubled Japan for so long. It argues that when the causality runs from the corporate balance sheet problems to deflation and banking problems, a highly unconventional policy response is needed to stabilize the economy. After all, the last time anything similar has happened was the 1930s in the US. Richard Koo's experience in dealing with both the US banking crisis of the early 1980s and the Japanese balance sheet and banking problems of the last ten years makes him unique qualified to comment on this situation. He clearly explains how such a recession can happen in any economy following an asset price bubble, and how best to deal with it.

Author : Mr.Akihiro Kanaya
Publisher : International Monetary Fund
ISBN 13 : 1451842406
Total Pages : 48 pages
Book Rating : 4.01/5 ( download)

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Download or read book The Japanese Banking Crisis of the 1990's written by Mr.Akihiro Kanaya and published by International Monetary Fund. This book was released on 2000-01-01 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: For a large part of the past decade, Japan has witnessed a steady deterioration in the health of its banking system. This paper examines what went wrong and why it has taken so long for the system to recover. While the paper traces the roots of the crisis to accelerated deregulation and deepening of capital markets without an appropriate adjustment in the regulatory framework, it identifies weak corporate governance and regulatory forbearance as the two factors behind what might have been an unnecessary prolongation of the distress of the financial system.

Author : Michael Breitenacher
Publisher : Duncker & Humblot
ISBN 13 : 9783428466238
Total Pages : 312 pages
Book Rating : 4.33/5 ( download)

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Download or read book Adjustment problems in advanced open economies written by Michael Breitenacher and published by Duncker & Humblot. This book was released on 2019 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Frederick D. S. Choi
Publisher : Van Nostrand Reinhold Company
ISBN 13 :
Total Pages : 312 pages
Book Rating : 4.76/5 ( download)

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Download or read book Accounting and Financial Reporting in Japan written by Frederick D. S. Choi and published by Van Nostrand Reinhold Company. This book was released on 1987 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Takeo Hoshi
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.45/5 ( download)

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Download or read book Corporate Structure, Liquidity, and Investment written by Takeo Hoshi and published by . This book was released on 1988 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Mitsuru Misawa
Publisher : World Scientific Publishing Company
ISBN 13 : 9813106743
Total Pages : 464 pages
Book Rating : 4.41/5 ( download)

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Download or read book Current Business and Legal Issues in Japan's Banking and Finance Industry written by Mitsuru Misawa and published by World Scientific Publishing Company. This book was released on 2006-09-01 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is one of the few books written in English by a Japanese author with expertise in finance, law and business. The book presents issues pertaining to the three areas from Japan's and US viewpoints, and is based on ten articles, published in reputable journals, on current issues in finance and law in Japan. It includes additional comments on Japan's banking and finance industry. The book contains a number of citations which will help readers understand more about Japanese law and finance. It also serves as a reference source for people outside Japan interested in Japanese law and finance. This book will be of interest to businessmen, accountants and lawyers who wish to know more about the second largest economy in the world.