The paper analyses the relationships between three stock markets: New York, Tokyo and Frankfurt. The non-simultaneity of the trading times in these three markets determines the results of cross-correlations and regressions with daily returns. To cope with this and other problems, an empirical...

This article examines the reasons why Japanese cultural products have not penetrated other countries. It also explicates the recent trends in Japan's expansion of its cultural products and Japan's direct investment in the global cultural market to ascertain whether this new development is a sign...