Japanese companies are both criticised and praised for holding large cash balances. Foreign commentators, activist investors and academics tend to be critical because cash retained by companies is expected to be paid out to workers or shareholders or invested in productive projects. If it is retained by companies, it represents lost opportunities. On the other hand, a cash buffer can protect companies from hard times. Globally companies have increased cash hoarding, but Japan remains an outlier. This lecture looks at Japanese companies’ saving and its economic effects, including on labour’s share of national income. Lecturer: Jennifer CORBETT (Tokyo College Professor, The University of Tokyo; Emeritus Professor, The Australian National University) Professor Jenny CORBETT has taught and researched on Japan’s economic performance and policy, on monetary policy and on East Asian financial integration at universities in the UK, Australia and Japan for 40 years. Her major publications include Rebalancing Economies in Financially Integrating East Asia (2015); Laggards and Leaders in Labour Market Reform: Comparing Japan and Australia (2009) and Structural Impediments to Growth in Japan (2003). Commentator: Makoto NIREI (Professor, Graduate School of Economics, The University of Tokyo) Program: [Lecture] 02:09 [Comments] 56:42 [General Discussion] 01:21:28 ------------------------------------------------------------------------ 東京カレッジは世界の第一線で活躍する研究者や知識人を招き、 市民の皆さんと一緒に未来社会の様々な側面について考える場を作ります。 ・Subscribe to Mail Magazine 【メールマガジン登録】 https://lb.benchmarkemail.com/listbuilder/signupnew?4rby2IB8yTFT4EdsMRA%252Bu%252F5pwVnAjsSIK37Xrw2R1BbtO5iNRn8gS8X4lBTFzgEtozrTjFZYUg4%253D ・Tokyo College Website 【東京カレッジウェブサイト】 https://www.tc.u-tokyo.ac.jp/ ・東京カレッジへの寄付はこちらから。寄付者限定イベント等も予定しています。 https://utf.u-tokyo.ac.jp/project/pjt138 ・X (Twitter) https://twitter.com/CollegeTokyo ・Facebook https://www.facebook.com/UTokyo.TokyoCollege/