There have been enormous differences of opinion between U.S. and Japanese institutional investors about the outlook for stock prices, differences across the two countries in average one-year-ahead forecasts for the Japanese stock market as great as twenty percentage points. In the past two years...

Two possible causes of international stock price co-movement are examined: the existence of global common shocks and portfolio adjustments by international investors. Empirical analyses indicate that the former explains a significant part of the co-movement and the latter is unlikely to play an...

The aims of this study were to identify the predictors of people's willingness to be vaccinated against influenza and to determine how to improve the inoculation rate. The study was based upon the results of our original large-scale survey conducted in the USA in 2005. A model of bounded...

In this paper we propose a new test of the efficient structure (ES) hypothesis, which predicts that efficient firms come out ahead in competition and grow as a result. Our test has significant advantages over existing ones, because it is more direct, and can jointly test the so-called quiet-life...

In this paper, we investigate what people in Japan consider when deciding to take the influenza vaccination. We develop an economic model to explain the mechanism by which people decide to take the influenza vaccination. Using our model and the data obtained from a large-scale survey we...

We analyze the mechanism of return and volatility spillover effects from the Chinese to the Japanese stock market. We construct a stock price index comprised of those companies that have substantial operations in China. This China-related index responds to changes in the Shanghai Composite Index...

Studies using dynamic panel regression approach have found a high speed of income convergence among the world and the regional economies. For example, Lee <italic>et al.</italic> (1997, 1998) report 30% per annum. This note argues that their estimates of the convergence speed can be seriously overstated. Using a...