The Dynamic Effect of Uncertainty on Corporate Investment through Internal and External Financing

Using firm-level data on the Japanese manufacturing industry, this study identifies the causal effect of uncertainty on the dynamic relation between corporate investment and financing conditions. It demonstrates that the cautionary effect is increasingly dominant under high uncertainty irrespective of the type of corporate investment—capital investment and R&D—and that this result remains even in the weak instrument robust inference. Hence, the dominance of the cautionary effect over the financing constraint effect makes actual corporate investment decisions under high uncertainty indifferent to the firm’s financing conditions

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The Dynamic Effect of Uncertainty on Corporate Investment through Internal and External Financing

Using firm-level data on the Japanese manufacturing industry, this study identifies the causal effect of uncertainty on the dynamic relation between corporate investment and financing conditions. It demonstrates that the cautionary effect is increasingly dominant under high uncertainty irrespective of the type of corporate investment—capital investment and R&D—and that this result remains even in the weak instrument robust inference. Hence, the dominance of the cautionary effect over the financing constraint effect makes actual corporate investment decisions under high uncertainty indifferent to the firm’s financing conditions

The Sensitivity Effect of Uncertainty on Corporate Investment through Internal and External Financing: Evidence on Cautionary Channel from Japanese Manufacturing Firms

Using firm-level data on the Japanese manufacturing industry, this paper studies the causal impact of uncertainty on the dynamic relation between corporate investment and financing conditions. It demonstrates that the cautionary effect that makes actual corporate investment decisions indifferent to the firm's financing conditions increases in higher uncertainty irrespective of the type of corporate investment---capital investment and R\&D---and is more pronounced in firms with less cash holdings. This result remains even in the weak and invalid instrument robust inference

Evaluation of the Effectiveness of a Group Intervention Approach for Nurses Exposed to Violent Speech or Violence Caused by Patients: A Randomized Controlled Trial

The purpose of this study was to evaluate the effectiveness of a group intervention approach aimed at improving the mental health of psychiatric nurses exposed to violent speech/violence. Sixty-two nurses having experienced serious episodes of violent speech/violence were enrolled in this study. A group intervention approach was used in the intervention group. For both the intervention and the control groups, evaluations were conducted at three time points. Evaluations were conducted using the Impact of Event Scale-Revised (IES-R) and Profile of Mood States (POMS). The results showed that changes in the flashback, hyper-arousal, avoidance behavior, and total scores on the IES-R and anxiety and depression scores on the POMS differed significantly between the two groups. These results suggest that a group intervention approach can lessen the psychological burden of nurses exposed to violence and reduce their mental stress

Slope efficiency characteristics of mode-hop driven tunable single-mode cholesteric liquid crystal laser

SPIE Photonic Devices + Applications, 2011, San Diego, California, United StatesYo Inoue, Hiroyuki Yoshida, Kenta Inoue, Yusuke Shiozaki, Hitoshi Kubo, Akihiko Fujii, and Masanori Ozaki "Slope efficiency characteristics of mode-hop driven tunable single-mode cholesteric liquid crystal laser", Proc. SPIE 8114, Liquid Crystals XV, 811415 (7 September 2011). DOI: https://doi.org/10.1117/12.89320