Littérature scientifique sur le sujet « Investments, Japanese – France »

The formation of the concept of responsible investment involves a change in the basic understanding of the investment process, which requires consideration of the possible consequences of such actions for the planet, society and economy. In this regard, it is important to provide a thorough methodological basis that will be the groundwork for the dissemination of this concept and its scientific foundation. The purpose of this work is to conduct a quantitative bibliometric analysis of research on responsible investing. The scientometric international databases Web of Science from Clarivate Analytics and Scopus from Elsevier and their built-in tools were used for this purpose. The time period of the study was 1990 – March 2021, the main search query – «responsible investment». Quantitative analysis of scientific publications in selected databases was conducted by time, geographical and subject search, analysis of organizations that fund research on this topic and the most cited works. The results show a growing trend of research on responsible investment in the world, with an increase in recent years, and a predominance of research by scientists from English-speaking countries (UK, United States, Australia, Canada) and European countries (Spain, France, Germany, etc.). Research is mainly funded by the European Commission and other Japanese and European organizations. The analysis of subject areas in the study of responsible investing revealed the presence of both managerial and economic, as well as social and environmental issues. The analysis of the most cited works in the scientometric databases Scopus and WoS revealed the popularity of socially responsible investments in the context of institutional, behavioral and functional aspects, as well as their connection with corporate social responsibility.

This study re-examined the effect of official development assistance (ODA) of five major donor countries (France, Germany, Japan, the United Kingdom, and the United States) on foreign direct investment (FDI) using panel data from 2003 to 2020. In addition to the system Generalized Method of Moments (GMM) with the gravity model, the Granger causality test and impulse response analysis with the panel VAR model was conducted. It was concluded that ODA did not necessarily have an effect on FDI since the 2000s. It is also suggested that the vanguard effect of Japanese ODA, as indicated by some previous studies, appeared mainly in the 1990s and may not be sustainable. The novelty of this study is to verify the effects of the ODA of major donors on FDI using new data from the 2000s onward, especially to reveal that the vanguard effect of Japanese ODA has not been observed since the 2000s. A limitation of this study is to determine only the presence or absence of a general trend at a statistically significant level. Therefore, further research on individual cases is expected to find how ODA has affected the investment decisions of individual companies.

Output growth in 1987 appears to have been very strong generally in the major seven economies. Provisional national income data for the fourth quarter in France, Germany and Japan have all indicated a stronger performance than we anticipated in our last Review in February. Our November forecast of Japanese growth in 1987 was 1¼ per cent too low, and as further information has become available we have revised up our forecasts for growth in 1988 and 1989 by 1½ to 2 per cent per annum. The Japanese have been willing to respond to US pressure and adopt art expansionary fiscal stance, and investment growth has also been rapid. We have also revised our forecast of US growth in 1988 and 1989. We are now expecting growth in the US to be ½ a per cent higher in 1988 than we were in February, but because we are now more pessimistic about imports we are forecasting a slowdown in activity into 1989.

Abstract While English plays a prominent role in universities across the globe, study abroad research has rarely considered English learning in non-Anglophone countries. This article presents a narrative case study of the experience of a Japanese exchange student in Thailand whose primary purpose for study abroad was to improve his English. Grounded in the notion of Individual Networks of Practice (Zappa-Hollman & Duff, 2015), the qualitative analysis will focus on the participant’s evolving social networks and reported communication practices as mediated through available subject positions and varying degrees of investment. Particularly, findings reveal the dissonance between his investment in native speaker English and the reality of using English as a lingua franca, which decidedly influenced the student’s (non-)participation in certain social groups and practices. Casting fresh light on globalization and language learning, the study offers a unique contribution to the study abroad literature and suggests avenues for further research and education.

The United States faces a formidable and growing economic challenge from Japan. Over the last decade, the American state has characteristically responded to the loss of domestic market dominance in the manufacturing sector to foreign firms by invoking the principles of free and fair trade in order to delegitimate this foreign competition and legitimate the imposition of trade barriers designed to encourage the investment of multinational corporations (MNCs) in the United States. These tactics have largely succeeded in attracting investment and thus aided domestic employment and the balance of trade. The short-term benefits, however, have been achieved at long-term, unforeseen, undesirable economic and political costs in terms of both the balance of payments and state autonomy. Alternative state responses to the threat posed by Japanese MNCs, while consistent with principles of free trade, challenge the traditional liberal conception of the scope and domain of state behavior and provide more effective policies in achieving both short- and long-term objectives. This article draws on data relating to the treatment of subsidiaries of American automobile manufacturers by European governments with competing indigenous producers in specifying two variables critical to identifying policy alternatives: first, the degree of access granted by the state to foreign firms (limited or unlimited access) and, second, the type of support provided by the state to domestic firms (discriminatory or nondiscriminatory intervention). The analysis suggests that there are four possible policy combinations, which generally reflect the four different postwar state policies pursued by West Germany, France, Britain, and the United States. Of these four, the combination employed by West Germany has proved most effective in pursuing policies consistent with liberal trade principles while reconciling short-term employment and fiscal goals with the broader long-term objectives of sustaining state autonomy and balance-of-payments surpluses in the face of foreign competition. British policies, which have consistently proved the most ineffective, have sacrificed long-term objectives for short-term ones. As a result of structural changes during the 1970s, the American state's chosen policy combination was altered and now replicates the traditional British formula. The United States therefore risks comparable economic and political consequences.

This study examines the relationship between investor sentiment and intraday return dynamics for safe haven assets, with a particular focus on crash risk in these assets. Examining intraday returns for a wide range of safe havens proposed in the literature, we find that shocks to investor sentiment have a significant effect on safest havens, while the sentiment is heterogeneous both in terms of its size and direction. While the strongest effects of sentiment shocks are observed in the case of Gold, Swiss Francs and Japanese Yen, interestingly, we find that oil stands out from the rest of the pack, responding negatively to sentiment shocks, suggesting that positive shocks to sentiment (i.e. high fear) increase crash risk for this asset. Our findings also point to intra-safe haven spillover effects, with oil exhibiting a markedly different pattern. Investment and hedging implications are discussed next.

Purpose Listed real estate securities have historically been used to achieve an exposure to the real estate asset class and to obtain a broad spectrum of other specific features such as return enhancement, but whether they must be associated to the direct property or to the broad stock market is deceptive on a merely theoretical basis. Moreover, the global financial crisis (GFC) has questioned their risk/return characteristics. The purpose of this paper is to asses if listed real estate securities are still enough dissimilar from the broad stock market to provide remarkable diversification benefits for a long term investor. Design/methodology/approach The analysis has been developed on the FTSE EPRA/NAREIT Developed Index and at country level (USA, UK, France, Japan, Singapore, Hong Kong and Australia) from November 2001 to October 2013. The authors analysed the real estate index over a broad market index and adjusted for a possible bias related to heteroskedasticity and autocorrelation, using a least squared regression with Newey-West HAC Correction. A Recursive Least Squares (RLS) was also used to test the stability of the parameters with the CUSUM squared test and the Chow test. Finally the authors tested for cointegration with the Augmented Dickey Fuller and the Engle Granger tests. Findings The authors found that after the GFC the Beta-risk related to the stock market has witnessed a sharp increase, but with differences among country. While the USA, the UK and France have experienced a trend similar to the one described for the FTSE EPRA/NAREIT Developed Index, Asian Markets depict a quite stable Beta over the full sample (gradual increase for the Australian market). Evidence of a structural break in conjunction with 2008 crisis has been found only in USA, UK and France. Practical implications Listed real estate securities, even if characterised by time varying Beta-risk and partially reduced diversification benefits, are still worth to be included in long term horizon portfolios. However, more wary considerations should be drafted before investing in the Asian markets where evidence of cointegration was found only for the Japanese market. Originality/value Analysis of post GFC effect on direct property investment vs indirect listed investment worldwide.

High-speed railway (HSR) network building was initiated in China in the early 2000s, and full-scale construction began several years later as a larger use phase started in 2008. Thereafter, the expansion speed has been impressive. Network investment could be considered as a success, if evaluating the amount of high-speed railway usage already during the expansion phase. The diffusion models built in this research show that expansion in the network and growth of the passengers will continue at least until the following decade. The performance is evaluated in terms of DEA efficiency model. It is shown that efficiency started from very low levels, but it has been increasing together with the expansion of HSR network. Currently, the efficiency is near the level of the leading European High-speed (HS) countries (Germany and France). However, it is projected with linear model and by Bass diffusion models that the efficiency will reach Japanese and South Korean standards in the next decade. A somewhat larger network length with smaller relative growth of passengers, but with a higher growth of passenger-km seems to be able to reach even the frontier efficiency.

I connect the invention of Japanese ‘religion’ since the Meiji era (1868–1912) with the invention of other modern imaginaries, particularly the Japanese Nation State and Japanese History. The invention of these powerful fictions in Japan was a specific, localised example of a global process. The real significance of this idea that religion has always existed in all times and places is that it normalises the idea of the non-religious secular as the arena of universal reason and progress. The invention of Japanese ‘religion’ had—and still has—a significant function in the wider, global context of colonial capital and the continual search for new ‘investment’ opportunities. Meiji Japan illustrates, in fascinating detail, a process of cognitive hegemony, and the way a globalising discourse on ‘progress’ transformed the plunder of colonial sites into a civilising mission. The idea that there is a universal type of practice, belief or institution called ‘religion’ as distinct from government, ‘politics’ or ‘science’ was not only new to Japan. It hardly existed in England or more widely in Protestant Europe and North America until the eighteenth or even 19th century. The idea of a secular constitutional nation state was only emergent in the late 18th century with the Declaration of Independence and the US Constitution. Most of Europe—including the colonial powers England and France—were still Christian confessional church states through most of the 19th century. The franchise was granted only to Christian men of substantial property, and denied to women, servants, wage labour, colonised subjects, and slaves. This critical, deconstructive narrative helps us to see more clearly the ideological function of the generic category of religion in the wider configuration of modern secular categories such as constitutional nation state, political economy, nature, history, and science. I also discuss the relation between History as a secular academic science, and the invention of ‘the Past’ in universal Time. I argue here that the invention of the Past by professional Historians has a significant role in transforming modern inventions such as ‘religion’ and the secular categories into the inherent and universal order of things, as though they have always been everywhere. I reveal this on-going process of ideological reproduction by close readings of some recent ‘histories of Japan’ and the way they uncritically construct ‘the Past’ in the terms of contemporary configurations.

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Defence date: 8 October 1987
Examining board: Prof. Vincent Wright, Nuffield College ; Prof. Yves Morvan, University of Rennes ; Prof. Julien Savary, University of Toulouse ; Prof. Stephen Young, Strathclyde University
PDF of thesis uploaded from the Library digitised archive of EUI PhD theses completed between 2013 and 2017

Divisions examines racism and resistance in America’s World War II military. The military built not one color line, but a complex tangle of them, involving every imaginable aspect of military life. Who served? Who fought? Who died? Who gave orders and who was forced to follow them? Who received the best ratings and jobs and pay and promotions? Who was court-martialed? Who received furloughs and leaves? Who received honorable or dishonorable discharges? Who ate at the officers’ club? Who danced at the post’s main recreation center? Who drank at the best pub in Cherbourg, France, or swam in the nicest pool in Calcutta? Color lines, which divided American troops in various configurations, often spoke definitively in all these matters and more. Taken together, they represented a sprawling structure of white supremacy and of African American, Japanese American, and other nonwhite subordination. Varied freedom struggles arose in response, democratizing portions of the wartime military and setting the postwar stage for its desegregation and for the flowering of civil rights movements beyond. But the costs of the military’s color lines were devastating. They impeded America’s war effort, undermined the nation’s Four Freedoms rhetoric, traumatized, even killed, an unknowable number of nonwhite troops, further naturalized the very concept of race, deepened many whites’ investments in white supremacy, especially anti-black racism, and further fractured the American people.

This chapter discusses the international surge of Japanese credit creation during the war, when Japan emerged, briefly and “prematurely,” as one of the world's top three creditor countries. Tokyo financial groups lent to Britain and France, as well as to Russia and China. Simultaneously, Japanese central bankers began to build the institutional infrastructure of an international credit center. This initiative was relatively unsuccessful. It did, however, herald the beginning of a structural shift. The chapter also looks at two parastatal banks—the Yokohama Specie Bank and the Industrial Bank of Japan—which functioned as a designated foreign exchange bank and a long-term industrial-investment bank, and their key roles in the administration of Japan's capital imports and exports. They were established to realize national policy goals, to mobilize domestic funds, and to build Japan's standing in international finance.