{"created":"2021-03-01T07:01:54.312478+00:00","id":42067,"links":{},"metadata":{"_buckets":{"deposit":"32e4a351-78ff-4552-b501-7fbcbcd74f77"},"_deposit":{"id":"42067","owners":[],"pid":{"revision_id":0,"type":"depid","value":"42067"},"status":"published"},"_oai":{"id":"oai:repository.dl.itc.u-tokyo.ac.jp:00042067","sets":["62:7433:7434","9:7435:7436"]},"item_8_biblio_info_7":{"attribute_name":"書誌情報","attribute_value_mlt":[{"bibliographicIssueDates":{"bibliographicIssueDate":"2009-07","bibliographicIssueDateType":"Issued"},"bibliographicVolumeNumber":"CIRJE-F-627","bibliographic_titles":[{"bibliographic_title":"Discussion paper series. CIRJE-F"}]}]},"item_8_description_13":{"attribute_name":"フォーマット","attribute_value_mlt":[{"subitem_description":"application/pdf","subitem_description_type":"Other"}]},"item_8_description_5":{"attribute_name":"抄録","attribute_value_mlt":[{"subitem_description":"Bertola/Caballero (1994) and Abel/Eberly (1996) extended Jor-genson s classical model of  rms optimal investment. By introducing investment frictions, they were able to capture the role of future antic-ipations in investment decisions as well as the lumpy and intermittent nature of investment dynamics. We extend Jorgenson s model to the other direction of  nancing frictions. We construct a model of an equity-only  rm, who must pay a linear  nancing cost for issuing new shares. We show that the  rm s optimal investment- nancing is a two-trigger policy in which the  rm  nances investment by issuing new shares (supplementing internal funds) when the shadow price of capital hits the upper trigger value. When the shadow price hits the lower trigger value, she sells a portion of her capital stock and buys back shares (or pays dividends). Values of the shadow price of capital between the two trigger values de ne a range of \"inaction\", in which the  rm does neither issue nor buy back shares and invests all of her internal funds for expansion.","subitem_description_type":"Abstract"}]},"item_8_description_6":{"attribute_name":"内容記述","attribute_value_mlt":[{"subitem_description":"本文フィルはリンク先を参照のこと","subitem_description_type":"Other"}]},"item_8_publisher_20":{"attribute_name":"出版者","attribute_value_mlt":[{"subitem_publisher":"日本経済国際共同センター"}]},"item_8_relation_25":{"attribute_name":"関係URI","attribute_value_mlt":[{"subitem_relation_type_id":{"subitem_relation_type_id_text":"http://www.cirje.e.u-tokyo.ac.jp/research/dp/2009/2009cf627ab.html","subitem_relation_type_select":"URI"}}]},"item_8_source_id_10":{"attribute_name":"書誌レコードID","attribute_value_mlt":[{"subitem_source_identifier":"AA11450569","subitem_source_identifier_type":"NCID"}]},"item_8_subject_15":{"attribute_name":"日本十進分類法","attribute_value_mlt":[{"subitem_subject":"335","subitem_subject_scheme":"NDC"}]},"item_8_text_21":{"attribute_name":"出版者別名","attribute_value_mlt":[{"subitem_text_value":"Center for International Research on the Japanese Economy"}]},"item_8_text_4":{"attribute_name":"著者所属","attribute_value_mlt":[{"subitem_text_value":"University of Tokyo"}]},"item_access_right":{"attribute_name":"アクセス権","attribute_value_mlt":[{"subitem_access_right":"metadata only access","subitem_access_right_uri":"http://purl.org/coar/access_right/c_14cb"}]},"item_creator":{"attribute_name":"著者","attribute_type":"creator","attribute_value_mlt":[{"creatorNames":[{"creatorName":"Kobayashi, Takao"}],"nameIdentifiers":[{"nameIdentifier":"96811","nameIdentifierScheme":"WEKO"}]},{"creatorNames":[{"creatorName":"Risa, Sai"}],"nameIdentifiers":[{"nameIdentifier":"96812","nameIdentifierScheme":"WEKO"}]}]},"item_language":{"attribute_name":"言語","attribute_value_mlt":[{"subitem_language":"eng"}]},"item_resource_type":{"attribute_name":"資源タイプ","attribute_value_mlt":[{"resourcetype":"technical report","resourceuri":"http://purl.org/coar/resource_type/c_18gh"}]},"item_title":"Investment Frictions versus Financing Frictions","item_titles":{"attribute_name":"タイトル","attribute_value_mlt":[{"subitem_title":"Investment Frictions versus Financing Frictions"}]},"item_type_id":"8","owner":"1","path":["7436","7434"],"pubdate":{"attribute_name":"公開日","attribute_value":"2013-05-31"},"publish_date":"2013-05-31","publish_status":"0","recid":"42067","relation_version_is_last":true,"title":["Investment Frictions versus Financing Frictions"],"weko_creator_id":"1","weko_shared_id":null},"updated":"2022-12-19T04:13:42.506541+00:00"}