{"created":"2025-03-10T03:15:05.511371+00:00","id":2002461,"links":{},"metadata":{"_buckets":{"deposit":"2ce29d39-bd34-4216-aa67-a6e90d034255"},"_deposit":{"created_by":49,"id":"2002461","owner":"49","owners":[49],"pid":{"revision_id":0,"type":"depid","value":"2002461"},"status":"published"},"_oai":{"id":"oai:kansai-u.repo.nii.ac.jp:02002461","sets":["528:933:953:1741572557771"]},"author_link":[],"control_number":"2002461","item_10_biblio_info_7":{"attribute_name":"書誌情報","attribute_value_mlt":[{"bibliographicIssueDates":{"bibliographicIssueDate":"2025-03-10","bibliographicIssueDateType":"Issued"},"bibliographicIssueNumber":"4","bibliographicPageEnd":"300","bibliographicPageStart":"287","bibliographicVolumeNumber":"74","bibliographic_titles":[{"bibliographic_title":"関西大学経済論集","bibliographic_titleLang":"ja"}]}]},"item_10_description_4":{"attribute_name":"概要","attribute_value_mlt":[{"subitem_description":"With more and more investors injecting funds into the capital market, the world capital market has made tremendous development and progress, and the asset price transmission channels of monetary policy have, therefore, received more attention from countries worldwide. The stock market plays a crucial role in the Chinese capital market and has become an indispensable investment and financing channel. At the same time, the impact of stocks on the real economy is increasing daily. When a country's monetary authority uses various monetary policy tools to regulate economic operations, whether intentional or unintentional, it will impact stock prices. Changes in stock prices will cause corresponding changes in consumption and investment, thereby affecting the real economy. Therefore, to enable monetary policy changes to affect the real economy through the stock market effectively, it is imperative to deeply explore the transmission mechanism of China's monetary policy in the stock market. This article selects ten years of monthly data in China, constructs a vector autoregression (VAR) model, and conducts empirical research using econometric methods. We conclude that the money supply positively impacts the stock price index, but when the index rises, it cannot have a stable and positive impact on fixed asset investment. From the conclusion, the stock transmission mechanism of China's monetary policy lacks effectiveness. In the conclusion part of the empirical analysis, combined with China's current economic development, stock market operation, and fixed asset investment, the reasons for the blocked transmission mechanism are analyzed. These reasons mainly include the imperfect development of China's stock market, a lack of connection between the stock market and the money market, and the fact that the Tobin Q effect cannot function perfectly. Based on the results of relevant empirical analysis, policy recommendations such as strengthening the connection between the money market and the stock market, and improving corporate management are proposed in this article.","subitem_description_language":"en","subitem_description_type":"Other"}]},"item_10_identifier_registration":{"attribute_name":"ID登録","attribute_value_mlt":[{"subitem_identifier_reg_text":"10.32286/0002002461","subitem_identifier_reg_type":"JaLC"}]},"item_10_publisher_34":{"attribute_name":"出版者","attribute_value_mlt":[{"subitem_publisher":"関西大学経済学会","subitem_publisher_language":"ja"}]},"item_10_source_id_10":{"attribute_name":"書誌レコードID","attribute_value_mlt":[{"subitem_source_identifier":"AN00046869","subitem_source_identifier_type":"NCID"}]},"item_10_source_id_8":{"attribute_name":"ISSN","attribute_value_mlt":[{"subitem_source_identifier":"04497554","subitem_source_identifier_type":"PISSN"}]},"item_10_version_type_17":{"attribute_name":"著者版フラグ","attribute_value_mlt":[{"subitem_version_resource":"http://purl.org/coar/version/c_970fb48d4fbd8a85","subitem_version_type":"VoR"}]},"item_access_right":{"attribute_name":"アクセス権","attribute_value_mlt":[{"subitem_access_right":"open access","subitem_access_right_uri":"http://purl.org/coar/access_right/c_abf2"}]},"item_creator":{"attribute_name":"著者","attribute_type":"creator","attribute_value_mlt":[{"creatorNames":[{"creatorName":"Zhang, Tingting","creatorNameLang":"en"},{"creatorName":"張, 婷婷","creatorNameLang":"ja"}]}]},"item_files":{"attribute_name":"ファイル情報","attribute_type":"file","attribute_value_mlt":[{"accessrole":"open_access","date":[{"dateType":"Available","dateValue":"2025-03-10"}],"displaytype":"detail","filename":"KU-1100-20250310-03.pdf","filesize":[{"value":"742 KB"}],"format":"application/pdf","mimetype":"application/pdf","url":{"objectType":"fulltext","url":"https://kansai-u.repo.nii.ac.jp/record/2002461/files/KU-1100-20250310-03.pdf"},"version_id":"25b9f2db-ce13-47b1-92e3-f9f62bba5fc3"}]},"item_keyword":{"attribute_name":"キーワード","attribute_value_mlt":[{"subitem_subject":"monetary policy","subitem_subject_language":"en","subitem_subject_scheme":"Other"},{"subitem_subject":"stock index","subitem_subject_language":"en","subitem_subject_scheme":"Other"},{"subitem_subject":"fixed assets investment","subitem_subject_language":"en","subitem_subject_scheme":"Other"},{"subitem_subject":"VAR","subitem_subject_language":"en","subitem_subject_scheme":"Other"},{"subitem_subject":"関西大学","subitem_subject_language":"ja","subitem_subject_scheme":"Other"},{"subitem_subject":"Kansai University","subitem_subject_language":"en","subitem_subject_scheme":"Other"}]},"item_language":{"attribute_name":"言語","attribute_value_mlt":[{"subitem_language":"eng"}]},"item_resource_type":{"attribute_name":"資源タイプ","attribute_value_mlt":[{"resourcetype":"departmental bulletin paper","resourceuri":"http://purl.org/coar/resource_type/c_6501"}]},"item_title":"An Empirical Study of the Effect of Money Supply on Fixed Asset Investment in Enterprises","item_titles":{"attribute_name":"タイトル","attribute_value_mlt":[{"subitem_title":"An Empirical Study of the Effect of Money Supply on Fixed Asset Investment in Enterprises","subitem_title_language":"en"}]},"item_type_id":"10","owner":"49","path":["1741572557771"],"pubdate":{"attribute_name":"PubDate","attribute_value":"2025-03-10"},"publish_date":"2025-03-10","publish_status":"0","recid":"2002461","relation_version_is_last":true,"title":["An Empirical Study of the Effect of Money Supply on Fixed Asset Investment in Enterprises"],"weko_creator_id":"49","weko_shared_id":-1},"updated":"2025-04-08T07:16:03.808863+00:00"}