• ISSN: 2010-023X (Print)
    • Abbreviated Title: Int. J. Trade, Economics and Financ.
    • Frequency: Quaterly
    • DOI: 10.18178/IJTEF
    • Editor-in-Chief: Prof.Tung-Zong (Donald) Chang
    • Managing Editor: Ms. Shira. W. Lu
    • Abstracting/ Indexing:  Crossref, Electronic Journals Library , EBSCO
    • E-mail: ijtef.editorial.office@gmail.com
HOME > Archive > 2020 > Volume 11 Number 5 (Oct. 2020) >
IJTEF 2020 Vol.11(5): 87-91 ISSN: 2010-023X
DOI: 10.18178/ijtef.2020.11.5.672

Performance Analysis of Japanese Manufacturing Industry before and after Lehman Shock

Yukari Shirota and Michiya Morita

Abstract—In the paper, we analyze determinants of the operating income to net sales ratio of Japanese manufacturing companies from 2004 to 2010 in-between Lehman crisis was put. The period involves up and down phases. The focus of this analysis is to identify determinants of the profitability in this period involving a swing of business conditions. We tried various regression methods for the analysis to understand those methodologies’ characteristics as well. They are Ridge, Lasso and Elastic Net regressions and decision tree-based regressions such as Random Forest and XGBoost. One implication we drew from the analyses suggests those companies that offered high value added product lines sustained relatively high profitability in this period. This implication is plausible because most of companies were at a loss or unable to adapt their supply processes’ fixed capacities and operating conditions to drastically changing business conditions such as a sudden crisis. Only high value added offerings could sustain relatively high profitability during the period.

Index Terms—Operating income to net sales ratio, Japanese manufacturing industries, Ridge regression, Lasso regression, Random Forest regression, XGBoost regression.

The authors are with the Faculty of Economics, Gakushuin University, Japan (e-mail: yukari.shirota@gakushuin.ac.jp, michiya.morita@gakushui.n.ac.jp).

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Cite: Yukari Shirota and Michiya Morita, "Performance Analysis of Japanese Manufacturing Industry before and after Lehman Shock," International Journal of Trade, Economics and Finance vol.11, no.5, pp. 87-91, 2020.

Copyright © 2020 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).

 

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