{"created":"2023-05-15T15:29:10.292539+00:00","id":8201,"links":{},"metadata":{"_buckets":{"deposit":"491c6d51-8905-4559-aabf-14c4b7306319"},"_deposit":{"created_by":1,"id":"8201","owners":[1],"pid":{"revision_id":0,"type":"depid","value":"8201"},"status":"published"},"_oai":{"id":"oai:shiga-u.repo.nii.ac.jp:00008201","sets":["491:492:867"]},"author_link":["30775","30776","30777"],"item_2_alternative_title_20":{"attribute_name":"タイトル（ヨミ）","attribute_value_mlt":[{"subitem_alternative_title":"ワガクニ ノ コモディティ トウシ シンタク ト ETF アタラシイ コモディティ トウシ ビーグル ノ ゲンジョウ ト カダイ"}]},"item_2_alternative_title_22":{"attribute_name":"その他の言語のタイトル","attribute_value_mlt":[{"subitem_alternative_title":"Recent Trends in Commodity Investment Trusts and Commodity ETFs in Japan"}]},"item_2_biblio_info_8":{"attribute_name":"書誌情報","attribute_value_mlt":[{"bibliographicIssueDates":{"bibliographicIssueDate":"2011-12","bibliographicIssueDateType":"Issued"},"bibliographicIssueNumber":"第390号","bibliographicPageEnd":"49","bibliographicPageStart":"34","bibliographic_titles":[{"bibliographic_title":"彦根論叢"}]}]},"item_2_description_43":{"attribute_name":"資源タイプ","attribute_value_mlt":[{"subitem_description":"Departmental Bulletin Paper","subitem_description_type":"Other"}]},"item_2_description_5":{"attribute_name":"抄録","attribute_value_mlt":[{"subitem_description":"This paper analyzes commodity investment\ntrusts and commodity Exchange Traded Funds\n(ETFs) as methods for investing in commodities,\nwhich are expected to be important tools\nfor individual investors who wish to participate\nin commodity investments. The “Financial Big\nBang” reforms initiated by Prime Minister\nRyutaro Hashimoto during the latter half of\nthe 1990s substantially changed the Japanese financial\nsystem, which had been strictly regulated. However, more than 50% of Japanese\nhouseholds’ financial assets are still cash\nand bank deposits, and the ratio of risky assets\nin households’ portfolios remains low. One\nreason that households hold few risky assets is\nthat individual investors do not feel they have\nenough knowledge to risk their money on such\ninvestments. Therefore, collective investment\nvehicles such as investment trusts, which allow individual investors to hold risky assets without\nextensive knowledge, are expected to play\nan important role in the future. Among commodity\ninvestments, commodity investment\ntrusts and ETFs seem most promising. Thanks\nto substantial deregulation, the listing of various\nETFs became possible in the early 2000s.\nInitially, all ETFs were linked to certain kinds\nof stock indexes, such as Nikkei 225 and\nTOPIX. Gradually, new types of ETFs, which\nare linked to indexes or prices of non-stock ass\ne ts , have be en introduc ed. The f ir st commodity ETF in Japan, linked to the price\nof gold in London, was offered in August 2007.\nSoon, other commodity ETFs followed. Today,\nthirty commodity ETFs are listed on the Tokyo\nStock Exchange and the Osaka Securities\nExchange. However, this paper finds that many\ncommodity ETFs are thinly traded. Therefore,\nwe need to implement policies as soon as possible\nto encourage Japanese investors to\nparticipate in the commodity ETF market. Encouraging\nmore commodity ETF transactions\nmay also lead to active arbitrages between ETF markets and commodity future markets.","subitem_description_type":"Abstract"},{"subitem_description":"This paper analyzes commodity investment trusts and commodity Exchange Traded Funds (ETFs) as methods for investing in commodities, which are expected to be important tools for individual investors who wish to participate in commodity investments. The “Financial Big Bang” reforms initiated by Prime Minister Ryutaro Hashimoto during the latter half of the 1990s substantially changed the Japanese financial system, which had been strictly regulated. However, more than 50% of Japanese households’ financial assets are still cash and bank deposits, and the ratio of risky assets in households’ portfolios remains low. One reason that households hold few risky assets is that individual investors do not feel they have enough knowledge to risk their money on such investments. Therefore, collective investment\nvehicles such as investment trusts, which allow\nindividual investors to hold risky assets without\nextensive knowledge, are expected to play an important role in the future. Among commodity\ninvestments, commodity investment trusts and ETFs seem most promising. Thanks to substantial deregulation, the listing of various ETFs became possible in the early 2000s. Initially, all ETFs were linked to certain kinds of stock indexes, such as Nikkei 225 and TOPIX. Gradually, new types of ETFs, which are linked to indexes or prices of non-stock assets, have been introduced. The first commodity ETF in Japan, linked to the price of gold in London, was offered in August 2007. Soon, other commodity ETFs followed. Today,\nthirty commodity ETFs are listed on the Tokyo Stock Exchange and the Osaka Securities Exchange. However, this paper finds that many commodity ETFs are thinly traded. Therefore, we need to implement policies as soon as possible to encourage Japanese investors to participate in the commodity ETF market. Encouraging more commodity ETF transactions may also lead to active arbitrages between ETF markets and commodity future markets.","subitem_description_type":"Abstract"}]},"item_2_description_7":{"attribute_name":"引用","attribute_value_mlt":[{"subitem_description":"彦根論叢, 第390号, pp. 34-49","subitem_description_type":"Other"},{"subitem_description":"The Hikone Ronso, No.390, pp. 34-49","subitem_description_type":"Other"}]},"item_2_full_name_2":{"attribute_name":"著者(ヨミ)","attribute_value_mlt":[{"nameIdentifiers":[{"nameIdentifier":"30776","nameIdentifierScheme":"WEKO"}],"names":[{"name":"ヤモリ, ノブヨシ"}]}]},"item_2_full_name_3":{"attribute_name":"著者別名","attribute_value_mlt":[{"nameIdentifiers":[{"nameIdentifier":"30777","nameIdentifierScheme":"WEKO"}],"names":[{"name":"Yamori, Nobuyoshi"}]}]},"item_2_publisher_35":{"attribute_name":"出版者","attribute_value_mlt":[{"subitem_publisher":"滋賀大学経済学会"}]},"item_2_source_id_11":{"attribute_name":"書誌レコードID","attribute_value_mlt":[{"subitem_source_identifier":"AN00207196","subitem_source_identifier_type":"NCID"}]},"item_2_source_id_9":{"attribute_name":"ISSN","attribute_value_mlt":[{"subitem_source_identifier":"0387-5989","subitem_source_identifier_type":"ISSN"}]},"item_creator":{"attribute_name":"著者","attribute_type":"creator","attribute_value_mlt":[{"creatorNames":[{"creatorName":"家森, 信善"}],"nameIdentifiers":[{"nameIdentifier":"30775","nameIdentifierScheme":"WEKO"}]}]},"item_files":{"attribute_name":"ファイル情報","attribute_type":"file","attribute_value_mlt":[{"accessrole":"open_date","date":[{"dateType":"Available","dateValue":"2018-09-13"}],"displaytype":"detail","filename":"02家森信善pdf.pdf","filesize":[{"value":"2.3 MB"}],"format":"application/pdf","licensetype":"license_note","mimetype":"application/pdf","url":{"label":"02家森信善pdf.pdf","url":"https://shiga-u.repo.nii.ac.jp/record/8201/files/02家森信善pdf.pdf"},"version_id":"b4d9a653-8945-467f-b59d-30536a6cd1de"}]},"item_language":{"attribute_name":"言語","attribute_value_mlt":[{"subitem_language":"jpn"}]},"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":"わが国のコモディティ投資信託とETF : 新しいコモディティ投資ビークルの現状と課題","item_titles":{"attribute_name":"タイトル","attribute_value_mlt":[{"subitem_title":"わが国のコモディティ投資信託とETF : 新しいコモディティ投資ビークルの現状と課題"}]},"item_type_id":"2","owner":"1","path":["867"],"pubdate":{"attribute_name":"公開日","attribute_value":"2012-01-25"},"publish_date":"2012-01-25","publish_status":"0","recid":"8201","relation_version_is_last":true,"title":["わが国のコモディティ投資信託とETF : 新しいコモディティ投資ビークルの現状と課題"],"weko_creator_id":"1","weko_shared_id":-1},"updated":"2023-05-15T20:31:38.340787+00:00"}