Empirical evidence of externalities of IT capital in Japan

We tested for the presence of IT capital externalities, based on a translog cost function framework applied to 10 Japanese manufacturing industries for the years 1974 to 1993. This framework allows us to test whether investment in IT capital in other industries reduces costs in a given industry. Our findings strongly suggest that externalities are prevalent in these manufacturing industries.Externality

IT CAPITAL AND ECONOMIC GROWTH IN JAPAN

This article presents an empirical investigation of the role of IT（Information Technology）capital in the Japanese macroeconomy, with a particular focus on the adjustment of IT capital stock. We use the Translog model in this study and treat IT capital as the only quasi-fixed factor. We found that the shadow price of IT capital was largely decreased, and that there was a significant difference in the shadow prices between the beginning of the measurement periods and in recent years. There was also a high investment incentive in most periods. We found evidence for the contribution of IT capital to labor productivity, and our findings are consistent with the proposition that IT capital contributes to output growth.IT capital, Translog model, productivity

Enzymatic transfer of galactosyl phosphate from UDP-galactose to UDP-N-acetylglucosamine

AbstractThe microsomal fraction of hen oviduct homogenate has been shown to contain an enzyme capable of catalyzing a transfer of galactosyl phosphate from UDP-galactose to UDP-N-acetylglucosamine. The product was isolated and identified as UDP-N-acetylglucosamine-6-phosphogalactose, the same compound as that found as a normal constituent in hen oviduct. The enzyme is analogous in reaction type to UDP-N-acetylglucosamine: glycoprotein N-acetylglucosamine-1-phosphotransferase (the enzyme responsible for introducing the recognition marker of newly synthesized lysosomal enzymes), which suggests that the galactosyl phosphotransferase is involved in galactose 1-phosphate transfer to N-acetylglucosamine residues of a newly synthesized glycoproteins

IT CAPITAL AND ECONOMIC GROWTH IN JAPAN

This article presents an empirical investigation of the role of IT（Information Technology）capital in the Japanese macroeconomy, with a particular focus on the adjustment of IT capital stock. We use the Translog model in this study and treat IT capital as the only quasi-fixed factor. We found that the shadow price of IT capital was largely decreased, and that there was a significant difference in the shadow prices between the beginning of the measurement periods and in recent years. There was also a high investment incentive in most periods. We found evidence for the contribution of IT capital to labor productivity, and our findings are consistent with the proposition that IT capital contributes to output growth

Copyright and market structure under vertical relations

The purpose of this study is to investigate the copyright protection of intellectual property under vertical relations. Vertical relations among author, manufacturer and retailer are considered. We develop several models, each with a different structure of vertical integration. R&D levels, total quantities, profits and social welfare levels are compared. We also investigate the effect of copyright protection by modeling the cases of perfect protection, partial protection and no protection. We analyze whether copyright benefits social welfare. We explain the policy implications of our results for the protection of copyright

IT CAPITAL AND ECONOMIC GROWTH IN JAPAN

This article presents an empirical investigation of the role of IT（Information Technology）capital in the Japanese macroeconomy, with a particular focus on the adjustment of IT capital stock. We use the Translog model in this study and treat IT capital as the only quasi-fixed factor. We found that the shadow price of IT capital was largely decreased, and that there was a significant difference in the shadow prices between the beginning of the measurement periods and in recent years. There was also a high investment incentive in most periods. We found evidence for the contribution of IT capital to labor productivity, and our findings are consistent with the proposition that IT capital contributes to output growth

Measuring the Rate of Obsolescence of Patents in Japanese Manufacturing Firms

This article assesses the rate of obsolescence of patents with measurements of the rate in Japan. Our study departs from Parkes and Schankerman (1989) and Schankerman (1998) because of its application of the ordered probit model. The application of this model enables us to consider the case of noncontinuous renewal fees. The estimated value of the rate of obsolescence in Chemicals is apparently large. Values of obsolescence rate in each industry except Chemicals are located above 24%. The obsolescence rate obtained by our estimates is apparently higher than in previous studies

Patent Applications and the Grant Lag under Early Disclosure System: Empirical Estimates for Japanese Firms

The purpose of this paper is to investigate the impact of the length of the grant lag under the early disclosure system in Japan. First, we measure the length of the grant lag. Second, we investigate whether reducing the grant lag significantly increases patent applications. We use data from 1985 to 2000 on 101 Japanese companies. The parameter for the grant lag was significantly negative in all equations. Therefore, reducing the grant lag increases patent applications. We also empirically investigated the determination of R\D. The grant lag significantly affects R\

Market Value and Patent Quality in Japanese Manufacturing Firms

We investigate the effect of quality of patents on the market value of firms represented by the Tobin's q. We consider the number of objections as well as the number of citations. We construct the database of patent stock, citation-weighted patent stock and objection-weighted patent stock. Our analysis is pioneering work involving Japanese data, as we were unable to find any pre-existing Japanese data that considered both truncation problems and quality of the patent. Our study departs from Hall, Jaffe and Trajtenberg (2000) because of the application of objections as well as the consideration of the quality of patent citations