紀要論文

インドにおける日系企業の事業活動：経済産業省『海外事業活動基本調査』 : 個票データを利用して

Japanese Multinationals in India : Evidence from Unit-Level : Data of METI’s Survey of Overseas Business Activities

jpn

00229741

https://doi.org/10.15002/00014924

法政大学経済学部学会

85

4

155

196

2018-03-23

Version of Record

The aim of this study is to provide a statistical abstract of Japanese multinationals in India for 20 years from 1995-96 to 2014-15 by employing the Ministry of Economy, Trade and Industry (METI)’s unit-level data in its Survey of Overseas Business Activities. There are no existing studies on this subject partly because of the difficulty of gaining access to this necessary data. This study constructs all of the main quantitative variables which the Survey of Overseas Business Activities covers for “oversea affiliates” in India. It should contribute to enhancing and deepening academic knowledge of the economic relations between India and Japan because the publically available version of Survey of Overseas Business Activities hardly covers India, except for figures for a few variables, such as the number of firms, employees, and sales. This study shows the following. 1) The accelerating entrance of Japanese firms into India after the mid-2000s was followed by an increase in employees, emoluments, sales, tax paid, value added, capital formation and payments to Japan. 2) Profits, profits after tax, tax paid, capital formation, and retained profits show large fluctuations over time, declining drastically during economic sanctions by Japan and the US (1998 to 2001), the global financial crisis (2008) and the recent economic crisis of stagflation (2011 to 2013). 3) After the mid-2000s, labor costs increased much more than operating costs. 4) The tax burden, measured as tax-values added ratio, slightly declined over time. 5) Export activity was enhanced generally over time. 6) The share of exports to Japan has declined in recent years while the Asian share has increased. 7) Two measures of import activity do not have the same direction. 8) The share of imports from Japan has declined in recent years while the Asian share has increased. 9) The trade balance became positive in 2004, then the trade surplus increased with large fluctuations. 10) Japanese firms in India have a trade deficit with Japan and a trade surplus with Asia. 11) R&D expenditure is still small, but has steadily increased. 12) Retained earnings in terms of sales are stagnant. 13) The average age of firms has generally declined over time. 14) The equity share of Japan is increasing, and the coefficient of variation has dropped over time. 15) In recent years, around 40% of the firms incurred a loss and about 25% did not create value but, on the contrary, destroyed value.

Article

AN00071028