as of December 3, 2012
Workshop on

Intangibles, Innovation Policy and Economic Growth
Hosts: Research Institute of Economy, Trade and Industry (RIETI),
Empirical Research on Intangible Investment in Japan, Gakushuin University (ERII),
Global COE Hi-Stat Project, IER, Hitotsubashi University,
International Seminar Room, Central Building 12F, Gakushuin University
1-5-1, Mejiro, Toshima-ku. Tokyo, 171-8588, Japan(http://www.gakushuin.ac.jp/univ/english/index.html)
December 17 and 18, 2012
Organizers
Ahmed Bounfour (European Chair on Intellectual Capital Management, University of Paris- south)
Kyoji Fukao (Hitotsubashi University and RIETI)Keun Lee (Seoul National University)
Tsutomu Miyagawa (Gakushuin University and RIETI)AgendaDecember 17, 2012
10:00-10:15 Opening Remarks: Masahisa Fujita (President and CRO of RIETI andKonan University)
Session 1: Intangible Investment at the Country Level
Chair: Keun Lee (Seoul National University)
10:15-11:00
Speaker: Mark Dutz (World Bank) “Intangible Investment in Brazil”
Discussant: Ahmed Bounfour (University of Paris-south)
11:00-11:45
Speaker: Philipp Boeing (Frankfurt School of Finance & Management) (with ElisabethMueller and Philipp Sandner) “In-house R&D, Knowledge Acquisition, and Innovation
Policy What Makes Chinese Firms Productive?”
Discussant: Testuo Wada (Gakushuin University)
Coffee break
12:00-12:45
Speakers: Ahmed Bounfour (University of Paris–south) and Vincent Delbecque(University of Paris–south) “Intangible Investment: Contribution to Growth andInnovation Policy Issues”
Discussant: Tomohiko Inui (Nihon University)
Lunch box
Session 2-1: Specific Intangible Assets and Firm Performance (1)Chair: Masayuki Morikawa (Vice President, RIETI)
14:00-14:45
Speaker: Feng Gu (University at Buffalo, NY), “Innovations in Information Systemsand Valuation of Intangibles”
Discussant: Ahmed Bounfour (University of Paris-south)
14:45-15:30
Speakers: Kenta Ikeuchi (NISTEP) and Kyoji Fukao (Hitotsubashi University andRIETI) “Sources of Private and Public R&D Spillovers: Technological, Geographic andRelational Proximity” (co-authored with René Belderbos, Young Gak Kim andHyeog Ug Kwon)
Discussant: Toshiyuki Matsuura (Keio University)
Coffee break
Session 2-2: Specific Intangible Assets and Firm Performance (2)Chair: Kyoji Fukao (Hitotsubashi University and RIETI)
16:00-16:45
Speaker: Leonard Nakamura (Vice President, FRB of Philadelphia), “On Advertisingand Firm Performance” (video conference)
Discussant: Shigeru Asaba (Gakushuin University)
16:45-17:30
Speakers: Atushi Kawakami (Gakushuin University) and Shigeru Asaba (GakushuinUniversity) “How Does the Market Value Management Practice? Decomposition ofIntangible Assets”
Discussant: Kaoru Hosono (Ministry of Finance and Gakushuin University)
Coffee break
17:45-18:30
Speakers: Keun Lee (Seoul National University) and Tsutomu Miyagawa (GakushuinUniversity) “Comparing the Management Practices and Firm Performance in Koreanand Japanese Firms -An Empirical Study Using Interview Surveys-“Discussant: Kozo Kiyota (Yokohama National University)
Working Dinner
Welcome Speech: Atsushi Nakajima (Chairman, RIETI)

December 18, 2012
Session 3: Intangible Assets at the Firm-Level
Chair: Yoshiaki Tojo (NEDO and RIETI Consulting Fellow)
10:00-10:45
Speakers: Tsutomu Miyagawa (Gakushuin University and RIETI), Miho Takizawa(Toyo University), and Kazuma Edamura (NISTEP), “Does the Stock Market Evaluate
Intangible Assets? -An Empirical Analysis Using Listed Firm Data in Japan-”
Discussant: Keiichiro Oda (Senior Fellow, RIETI)
10:45-11:30
Speaker: Bettina Peters (ZEW) “Intangible Assets and Firm Productivity Variation”
Discussant: Young Gak Kim (Senshu University)
Coffee break11:45-12:30
Speaker: Masayuki Morikawa (Vice President, RIETI) “Financial Constraints in
Intangible Investments: Evidence from Japanese Firms”
Discussant: Kaoru Hosono (Ministry of Finance and Gakushuin University)

12:30-12:45

closing remarks

Lunch box
AdjournNote
presentation time: 25 minutes, discussion time: 10 minutes, and response and general
discussion: 10 minutes.

List of Presenters
S. Asaba, Professor, Gakushuin University, JapanP. Boeing, Research Associate, Frankfurt School of Finance & Management, Germany
A. Bounfour Professor, University of Paris –south, France
V. Delbecque, University of Paris –south, France
M. Dutz, Senior Economist, World Bank, US
K. Edamura, Researcher, NISTEP, Japan
M. Fujita (President and CRO of RIETI)
K. Fukao, Professor, Hitotsubashi University and Faculty Fellow, RIETI, Japan
F. Gu, Associate Professor, State University of New York, Buffalo, US
K. Hosono, Ministry of Finance and Gakushuin University, JapanK. Ikeuchi, Researcher, NISTEP, Japan
T. Inui, Professor, Nihon University, Japan
A. Kawakami, Associate Professor, Gakushuin University, Japan
Y. Kim, Associate Professor, Senshu University, JapanK. Kiyota Associate Professor, Yokohama National University, JapanK. Lee, Professor, Seoul National University, Korea
T. Matusura, Associate Professor, Keio University, Japan
T. Miyagawa, Professor, Gakushuin University and Faculty Fellow, RIETI, Japan
M. Morikawa, Vice President, RIETI, Japan
A. Nakajima, Chairman, RIETI, Japan
L. Nakamura, Vice President, FRB of Philadelphia, US (participate by video)
K. Oda, Senior Fellow, RIETI, Japan
B. Peters, Senior Researcher, ZEW, Germany
M. Takizawa, Associate Professor, Toyo University, Japan
Y. Tojo, NEDO and RIETI Consulting Fellow, RIETI, JapanT. Wada, Professor, Gakushuin University, Japan