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Land Value and Corporate Investment: Evidence from Japanese Panel Data

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  • Ogawa, Kazuo
  • Suzuki, Kazuyuki

Abstract

Based on a panel data set of the Japanese corporations, we investigate into the collateral role of the land assets. We estimate the Euler equation of investment decision rule by the GMM when the corporations face borrowing constraints.
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  • Ogawa, Kazuo & Suzuki, Kazuyuki, 1998. "Land Value and Corporate Investment: Evidence from Japanese Panel Data," Journal of the Japanese and International Economies, Elsevier, vol. 12(3), pages 232-249, September.
    • Handle: RePEc:eee:jjieco:v:12:y:1998:i:3:p:232-249
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    More about this item

    JEL classification:

    • C20 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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