Testing the effects of the Japanese vehicle emission-control law on the international palladium futures market

This paper tested the effects of the 2005 vehicle emission-control law issued in Japan on the market linkages between the U.S. and Japanese palladium futures markets, To determine these effects, we applied a cointegration test both with and without break points in the time series and found that the market linkages between the two countries changed after the break in October 2005. Our results show that the 2005 long-term regulation of vehicle emissions enacted in Japan influenced the international palladium futures market.

Environmental information provision, market valuation, and firm incentives: An empirical study of the Japanese PRTR system

The environmental performance of a listed firm could affect its level of investment in pollution prevention and its access to financial markets. Previous studies using Tobin's q that explore market response to environmental performance do not distinguish between the impact of performance on investment and market response, which may mislead conclusions. To overcome this problem, we simultaneously estimate the functions of the intangible asset, the replacement cost, and the toxic chemical risk. We find that the Japanese financial market does not value risk associated with toxic chemical releases. Nevertheless, even without market valuation, firms increase investment to reduce pollution. © 2010 by the Board of Regents of the University of Wisconsin System.

Consumer’s comparison between local and imported organic products: A hedonic analysis of the Japanese table wine market

Although hundreds of thousands of organic products are traded on a daily basis, it is less known how imported organic products are evaluated by consumers in an importing country. The paper analyzes Japanese wine point of sale (POS) data to examine whether consumers differentiate between local and imported organic products. The results of our hedonic analyses show that the premium for imported organic red (white) wines is about 42.996 % (8.872 %) while that for domestic red (white) organic wines is about 6.440 % (1.214 %), implying that Japanese consumers pay higher premiums for imported organic agricultural products than for those produced in Japan.

'Fa Tsai', a Chinese edible Nostoc in market. [Translation from: Bulletin of the Japanese Society of Phycology 8 124-126, 1960. ]

The Nostoc 'Fa Tsai' is sometimes seen in Chinese cooking materials stores. It is investigated what 'Fa Tsai' consists of and where it originates.

Trade and Management: Exclusive Economic Zones and the Changing Japanese Surimi Market

The United States' increasing competitive advantage in international seafood trade in Alaska walleye pollock. Theragra chalcogramma, has contributed to higher prices for surimi-based goods and structural changes in seafood production and trade in Japan. The objectives of this analytical investigation include: 1) Evaluation of the role reversal of Japan and the United States in international seafood trade and 2) quantification of the impact of rising prices of frozen surimi on household consumption of surimi-based foods in Japan. This study documents Japan's regression from "seafood self-sufficiency" to increasing dependence on imported products and raw materials. In particular, Japan's growing dependence on American fishermen and seafood producers is described. Surimi production by the United States, and its emerging dominance over Japanese sources of supply, are especially significant. Results of the analysis suggest that Japanese consumer demand for surimi-based food stuffs correlates directly with "competitive" food prices, e.g., pork, chicken, and beef, and inversely with personal income. Also revealed is how rising household income and relative price shifts among competing animal protein sources in the Japanese diet have contributed to declining household consumption of surimi-based foods, specifically, and a shift away from seafoods in favor of beef, in general. The linkages between, for example. Japanese domestic seafood production and consumption, international trade in marine products, and resource management decisions in the U.S. EEZ present a picture of a changing global marketplace. Increasingly, actions in one arena will have perhaps profound implications in the others.

Land of the rising soy an internationalization plan for nutre to the Japanese Soy milk market

The present work project studies the next step in the internationalization process of Shoyce, the soy milk products brand of Nutre. In order to select the best target market in the Asia-Pacific for Nutre to export, a sequential screening process was developed using two complementary approaches: preliminary country screening and country ranking, followed by an in-depth analysis of the country ranking first. The analysis revealed Japan as the most attractive country for Shoyce’s international expansion. Potential entry modes in the Japanese soy milk market were then evaluated, whereby direct exporting via a local distributor was found to be the most appropriate.

Market timing as a motive for IPOs: evidence from IPOs of Japanese keiretsu firms

This paper examines the relevance of market timing as a motive for initial public offerings (IPOs) by comparing IPOs of firms that are members of Japanese keiretsu industrial groups with IPOs of independent Japanese firms. We argue that Japanese keiretsu-linked IPOs form a favorable sample to find evidence of the market timing motive. Instead, the data provide strong evidence for a restructuring motive and little evidence for market timing. We find that long run returns to keiretsu and independent IPOs are not negative, contrary to U.S. evidence, and are indistinguishable from each other; initial returns to keiretsu-linked IPOs are significantly higher than to independent firms; and a significant number of keiretsu IPO firms adjust their linkages with the group following the IPO, with both increases and decreases.

Crowding-out and Crowding-in Effects of Government Bonds Market on Private Sector Investment (Japanese Case Study)

This paper reviews the relationship between public sector investment and private sector investment through government expenditures financed by government bonds in the Japanese economy. This study hypothesizes that deficit financing by bond issues does not crowd out private sector investment, and this finance method may crowd in. Thus the government increases bond issues and sells them in the domestic and international financial markets. This method does not affect interest rates because they are insensitive to government expenditures and they depend on interest rates levels in the international financial market more than in the domestic financial market because of globalization and integration among financial markets.

The Japanese solid wood products market : profile and outlook /

"April 1989."

Re-imagining China's future : soft power, cultural presence and the East Asian media market

As various contributors to this volume suggest, the term soft power is multifaceted. In 2002 Joseph Nye, the political scientist who coined the term more than a decade previously, noted that the soft power of a country rests on three resources: a country’s culture, its political values, and its foreign policies (Nye 2002). However, several factors can be drawn together to explain China’s adoption of this concept. First, China’s economic influence has precipitated a groundswell of nationalism, which reached its apex at the Opening Ceremony of the 2008 Beijing Olympics. This global media event provided an international platform to demonstrate China’s new found self-confidence. Second, cultural diplomacy and foreign aid, particularly through Third World channels is seen by the Chinese Communist Party leadership as an appropriate way to extend Chinese influence globally (Kurlantzick 2007). Third, education in Chinese culture through globally dispersed Confucius Institutes is charged with improving international understanding of Chinese culture and values, and in the process renovating negative images of China. Fourth, the influence of Japanese and Korean popular culture on China’s youth cultures in recent years has caused acute discomfit to cultural nationalists. Many contend it is time to stem the tide. Fifth, the past few years have witnessed a series of lively debates about the importance of industries such as design, advertising, animation and fashion, resulting in the construction of hundreds of creative clusters, animation centres, film backlots, cultural precincts, design centres and artist lofts.

Judge George W Paul's Japanese house : a case study

In the late 1880s a pre-fabricated Japanese house was shipped from Kobe, Japan, to Brisbane, Australia, and erected in the up-market suburb of New Farm by Japanese tradesmen. This paper is developed from a broader project researching the life of G W Paul, the man who had the house built and subsequently lived in it for the remainder of his life. Paul’s motivation in importing the house represented a unique, but unfulfilled effort to develop a future, hybrid culture for Queensland. This effort took the form of a commercial venture to construct Japanese houses as desirable and climatically suitable dwellings. Against the backdrop of this ambition, this paper presents new research to elucidate and extend previous knowledge, assesses the reception of the house by its nineteenth century Brisbane audience, and considers possible reasons for the limited response which signalled the cancellation of the commercial venture.

Yutori Kyoiku and the uncertainty of recent neo-liberal reforms in Japanese higher education

This paper draws upon the current situation within Japanese Higher Education. In particular the paper focuses on educational reforms and how they relate to the notions of Yutori Kyoiku which constituted a major attempt by Japanese education to develop individual student capacity. A clear subtext of the recent neo-liberal reform agenda is a desire to incorporated free-market ideals into the Japanese educational system. This paper raises several important problems connected to the reforms such as the decrease in classroom hours, changes to the contents of textbooks and a growing discrepancy in academic skills between students in different localities. These education reforms have impacted on notions of Yutori Kyoiku through the continuation of nationally standardized testing and changes directed at controlling the practices of classroom teachers. While acknowledging the current Japanese cabinet’s (DP) education policy has been inherited from an earlier LDP government, the paper points to similarities between the current reforms and the iconic Meiji era reforms of the late 1800s.

Productive inefficiency analysis and toxic chemical substances in US and Japanese manufacturing sectors

Corporate social responsibility is imperative for manufacturing companies to achieve sustainable development. Under a strong environmental information disclosure system, polluting companies are disadvantaged in terms of market competitiveness, because they lack an environmentally friendly image. The objective of this study is to analyze productive inefficiency change in relation to toxic chemical substance emissions for the United States and Japan and their corresponding policies. We apply the weighted Russell directional distance model to measure companies productive inefficiency, which represents their production technology. The data encompass 330 US manufacturing firms observed from 1999 to 2007, and 466 Japanese manufacturing firms observed from 2001 to 2008. The article focuses on nine high-pollution industries (rubber and plastics; chemicals and allied products; paper and pulp; steel and non-ferrous metal; fabricated metal; industrial machinery; electrical products; transportation equipment; precision instruments) categorized into two industry groups: basic materials industries and processing and assembly industries. The results show that productive inefficiency decreased in all industrial sectors in the United States and Japan from 2001 to 2007. In particular, that of the electrical products industry decreased rapidly after 2002 for both countries, possibly because of the enforcement of strict environmental regulations for electrical products exported to European markets.

Tests on price linkage between the U.S. and Japanese gold and silver futures markets

We tested the price linkage, the law of one price (LOP) condition, and the causality of the price linkage between the U.S. and Japanese gold and silver futures markets with consideration of structural breaks in the price series. The LOP condition did not hold for both the gold and silver markets when structural breaks were not considered but it sustained in some periods when it was tested for the break periods. We found from the causality test that the price linkage between the U.S. and Japanese gold and silver futures markets were led by the U.S. market.

Catch limits, capacity utilization and cost reduction in Japanese fishery management

Japan's fishery harvest peaked in the late 1980s. To limit the race for fish, each fisherman could be provided with specific catch limits in the form of individual transferable quotas (ITQs). The market for ITQs would also help remove the most inefficient fishers. In this article we estimate the potential cost reduction associated with catch limits, and find that about 300 billion yen or about 3 billion dollars could be saved through the allocation and trading of individual-specific catch shares.