This paper provides a theoretical explanation for why the presence of asset bubbles can lead to higher economic growth in concurrence with high consumption by using a simple endogenous growth model. In the model economy, long-lived valuemaximizing firms continuously improve the quality of their...

We estimate the stocks of patents and their growth rates in the Italian textile and chemical industries between 1904 and 1937. The stocks and growth rates by nationality are estimated for Italy, France, Germany, the UK, Switzerland, and the USA. The Italian patent stock in the textile industry...

This study finds out one of the explanations about the failure of high technology business from the case analysis of Panasonicfs plasma TV business. By the in-depth historical survey of secondary information sources, this study shows that "authority of Kunio Nakamura", "idolization of Kunio...

This paper investigates the effect of the size and composition of the board of directors of Shinkin Banks on their efficiency and risk taking. Because employees are important stakeholders in Japanese firms, we define the relative size of the board of directors as the number of directors per...

Tax changes are often announced before the implementations and are not permanent but only temporary. R&D firms will optimally adjust their investment decision to a tax schedule accordingly. This paper analyzes how anticipated and temporary tax changes dynamically affect the innovation...

Monopsony is often observed in local agricultural markets in developing countries because of the high entry cost to buyers; farmers in such markets therefore sell their agricultural products at a lower price. However, this situation seems to be changing with the diffusion of mobile phones. This...

We extend the theory of job crafting by proposing that job characteristics, individual differences, and group-level contexts interactively promote employee job crafting. Specifically, drawing on the theories of job characteristics, regulatory focus, and social exchange, we develop a multilevel...

This paper shows that in a borrowing-constrained economy, a median level of inequality stimulates investment, whereas low and high levels of inequality dampen investment. This nonlinearity is a result of two effects. There are more rich individuals in an equal economy than in an unequal economy....

English agriculture in the first half of the nineteenth century was characterised by the ehigh-wage north and low-wage southf pattern. The serious problem of rural unemployment in southern England is also widely acknowledged for this period. The question then remains: Why did agricultural...

This study considers a Cournot duopoly market in which a clean firm can transfer its less polluting technology to a dirty firm through a fixed-fee licensing contract. We analyze the impacts of emissions taxes on the incentives of firms to transfer technology as well as on the total pollution...