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How the BOJ Has Affected Domestic Equity Markets by Its ETF Purchasing Program
https://doi.org/10.15018/00000152
https://doi.org/10.15018/000001523d3caa49-455a-4487-83c9-7d7c35568d8d
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
keizai-51-2_37-62.pdf (616.3 KB)
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| Item type | 紀要論文 / Departmental Bulletin Paper(1) | |||||||
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| 公開日 | 2021-01-20 | |||||||
| タイトル | ||||||||
| タイトル | How the BOJ Has Affected Domestic Equity Markets by Its ETF Purchasing Program | |||||||
| 言語 | en | |||||||
| 言語 | ||||||||
| 言語 | eng | |||||||
| 資源タイプ | ||||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||||
| 資源タイプ | departmental bulletin paper | |||||||
| その他 資源タイプ | Article | |||||||
| 著者 |
Toshino, Masashi
× Toshino, Masashi
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| 書誌情報 |
ja : 成蹊大学経済経営論集 en : The Journal of Economics and Business Administration Seikei University 巻 51, 号 2, p. 37-62, 発行日 2020-12-20 |
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| 出版者 | ||||||||
| 出版者 | 成蹊大学経済経営学会 | |||||||
| 言語 | ja | |||||||
| 出版タイプ | ||||||||
| 出版タイプ | VoR | |||||||
| 出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||||
| ISSN | ||||||||
| 収録物識別子タイプ | PISSN | |||||||
| 収録物識別子 | 2435-130X | |||||||
| アクセス権 | ||||||||
| アクセス権 | open access | |||||||
| アクセス権URI | http://purl.org/coar/access_right/c_abf2 | |||||||
| ID登録 | ||||||||
| ID登録 | 10.15018/00000152 | |||||||
| ID登録タイプ | JaLC | |||||||
| 抄録 | ||||||||
| 内容記述タイプ | Abstract | |||||||
| 内容記述 | The Bank of Japan (BOJ) started a program to purchase domestic equity indexlinked ETFs in December 2010 to stimulate the sluggish economy after the 2007-8 financial crisis. It initially set an annual limit of 0.45 trillion yen. It was also a temporary program, which would terminate by the end of 2011. The BOJ, however, has continued to purchase ETFs and dramatically increased an annual target value to 6 trillion yen since July 2016. The BOJ tended to buy ETFs when opening stock price indices declined. The Nikkei Stock Average (NSA) is the most popular stock index in Japan, and it is price-weighted. By purchasing NSA-linked ETFs massively, the BOJ seems to have affected the NSA’s component stocks’pricing and created an “indexing effect.” | |||||||
| 言語 | en | |||||||
