Internal capital market and the growth and survival of Japanese plants in the United States

研究成果: Article

7 引用 (Scopus)

抄録

This article examines the growth and survival of foreign plants based on a cross-section of Japanese plants in the United States. Results show that plant turnovers are significantly related to plant age and size in a manner highly consistent with the Bayesian learning model of firm dynamics (e.g. Jovanovic [Econometrica 50 (1982) 649]). They also indicate that financial conditions prevailing at the Japanese parent affect plant dynamics importantly, suggesting the working of internal capital markets across the Pacific. Results, however, are ambiguous with regard to the efficiency of internal capital allocation.

元の言語English
ページ(範囲)366-385
ページ数20
ジャーナルJournal of the Japanese and International Economies
19
発行部数3
DOI
出版物ステータスPublished - 2005 9
外部発表Yes

Fingerprint

capital market
turnover
parents
firm
efficiency
learning
Financial condition
Turnover
Firm dynamics
Learning model
Cross section
Capital allocation
Internal capital markets
Bayesian learning

ASJC Scopus subject areas

  • Economics and Econometrics
  • Finance

これを引用

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