The Japanese finance corporate finance and capital markets in changing Japan /

• Άλλοι συγγραφείς: Choi, Jongmoo Jay, 1945-, Hiraki, Takato
• Μορφή: Ηλεκτρονική πηγή Ηλ. βιβλίο
• Γλώσσα: English
• Έκδοση: Amsterdam ; Boston : JAI, 2003.
• Σειρά: International finance review, v. 4.
• Θέματα: Capital market > Japan.; Corporations > Japan > Finance.; Finance > Japan.; Business & Economics > Finance.; Business & Economics > International > Economics.; Corporate finance.; Economic systems & structures.

 Japan has always been an odd man out from the standpoint of Western norm or Western finance. It is a country that is as developed as any in the West. However, it is also a country that possesses the significant institutional and cultural traits that separate it from the West. An important question in finance is to what extent the basic models of finance, developed with the Western perfect market view in mind, can be applied to Japan; or conversely, what critical adjustments must be made to make models amendable to the reality of Japanese finance. This book contains 21 substantive papers that address various aspects of Japanese finance. This is an attempt to bring them together under the same cover so that the commonality and peculiarity of Japanese finance can be more easily discerned across different applications as well as compared across countries. Hence, despite apparent differences in topics, the theme is international and comparative in nature throughout. 

 The supply of trade credit in Japanese firms / Richard L. Constand -- An analysis of the relative performance of Japanese and foreign money management / Stephen J. Brown, William N. Goetzmann, Takato Hiraki, Noriyoshi -- IPO mechanisms : a comparison of book-building, discriminatory price auctions and uniform price auctions / Jaclyn Beierlein, Hideaki Kiyoshi Kato -- The efficiency of the Japanese equity market / Jun Nagayasu -- Index-futures arbitrage in Japan / Y.Peter Chung, Jun-Koo Kang, S.Ghon Rhee -- Price and volume effects associated with a change in the NIKKEI 225 index list : new evidence from the big change on April 2000 / Hideki Hanaeda, Toshio Serita -- Did option markets anticipate the decline in Japanese stock prices in 1990? / Naoya Takezawa, Nobuya Takezawa -- An analysis of Japanese return dynamics conditional on United States Monday holiday closures / Takato Hiraki, Edwin D. Maberly -- Disintermediation and bond market development in Japan / Peter G. Szilagyi, Jonathan A. Batten -- Bank stock returns, interest rate changes, and the regulatory environment : new insights from Japan / John Paul Broussard, Kenneth A. Kim, Piman Limpaphayom -- The Japanese finance : is it unique? / Jongmoo Jay Choi, Takato Hiraki -- Is issuing subordinated debt by Japanese banks effective in the Japanese market? / Ayami Kobayashi -- Comparison of the short-term and the long-term characteristics of the Japanese and the U.S. spot interest rate / Kenji Wada -- Information, trading volume and international stock market comovements / Louis Gagnon, G.Andrew Karolyi -- The impacts of Japanese price-competitive IPO auctions versus the U.S. underwriter-priced IPOs / Richard H. Pettway -- The time-varying behaviour of credit spreads on yen Eurobonds / Jonathan A. Batten, Warren P. Hogan, Seppo Pynnnöen -- Determinants of the initial decisions by Japanese firms to undertake foreign direct investment / Yutaka Horiba, Kazuo Yoshida -- Estimation and prediction of the Japanese yen/U.S. dollar rate using an adaptive time-varying model / Ahmed S. Abutaleb, Yuzo Kumasaka, Michael G. Papaioannou -- Does the day-of-the-week effect in foreign currency markets disappear? Evidence from the yen/dollar market / Nobuyoshi Yamori, Panos Mourdoukoutas -- Recognition of foreign exchange risk in the Japanese stock market / Jongmoo Jay Choi, Takato Hiraki, Nobuya Takezawa -- The Japanese market for corporate control and managerial incentives / Jun-Koo Kang, Takeshi Yamada -- Internal cash flows and investment decisions : a comparative study of the U.S. and Japan / Raj Aggarwal, Sijing Zong.