Do Japanese Companies Hoard Too Much Cash? (Lecture by Prof. Jennifer CORBETT)
Date(s) | Tuesday, 5 December, 13:00-14:30 JST |
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Venue |
Zoom Webinar (Register here) |
Registration | Pre-registration required |
Language | English (Japanese interpretation) |
Abstract |
Japanese companies are both criticised and praised for holding large cash balances. Foreign commentators, activist investors and academics tend to be critical because cash retained by companies is expected to be paid out to workers or shareholders or invested in productive projects. If it is retained by companies, it represents lost opportunities. On the other hand, a cash buffer can protect companies from hard times. Globally companies have increased cash hoarding, but Japan remains an outlier. This lecture looks at Japanese companies’ saving and its economic effects, including on labour’s share of national income. |
Speaker Profile |
Lecturer: Jennifer CORBETT (Tokyo College Professor, The University of Tokyo; Emeritus Professor, The Australian National University) Professor Jenny CORBETT has taught and researched on Japan’s economic performance and policy, on monetary policy and on East Asian financial integration at universities in the UK, Australia and Japan for 40 years. Her major publications include Rebalancing Economies in Financially Integrating East Asia (2015); Laggards and Leaders in Labour Market Reform: Comparing Japan and Australia (2009) and Structural Impediments to Growth in Japan (2003).
Commentator: Makoto NIREI (Professor, Graduate School of Economics, The University of Tokyo)
Moderator: Takeo HOSHI (Deputy Director, Tokyo College, The University of Tokyo) |
Organized by | Tokyo College, The University of Tokyo |
Contact | tokyo.college.event@tc.u-tokyo.ac.jp |