Impact of foreign ownership on firm productivity: evidence from Japanese manufacturing firms

Jaehyun Yoon*

*この研究の対応する著者

研究成果: Article査読

抄録

This article presents the methodology to examine the impact of foreign ownership on firm productivity using firm-level data of Japanese manufacturing firms from 2000 to 2016, which include 1,458 listed companies in Japan. Firm productivity is represented by total factor productivity (TFP), which is estimated by the Olley–Pakes semiparametric estimation method to minimize the simultaneity problem in production function estimation. In the estimation of the impact of foreign ownership on firm productivity, system GMM estimation is applied to address a possible reversal causality problem between foreign ownership and firm productivity. Based on the case of the manufacturing firms in Japan, this article shows that 1 percentage point increase in foreign ownership increases the firm productivity by 0.06 percent. The evidence of this article supports the positive impact of foreign ownership on firm productivity and further implies that the promotion of foreign investment could be a policy option to improve firm productivity. Highlights This study analyzes the impact of foreign ownership on firm productivity. Firm-level data of the Japanese manufacturing firms from 2000 to 2016 are analyzed. The result supports the positive impact of foreign ownership on firm productivity.

本文言語English
ジャーナルJournal of the Asia Pacific Economy
DOI
出版ステータスAccepted/In press - 2021

ASJC Scopus subject areas

  • 地理、計画および開発
  • 開発
  • 政治学と国際関係論

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