We investigate the effectiveness of market discipline by depositors during the period of 1992-2002 in the four crisis-hit Asian countries: Indonesia, Korea, Malaysia and Thailand. In Indonesia, the crises first weakened and then strengthened market, which is consistent with the wake-up-call...

This paper investigates the effectiveness of depositor discipline and its relationship with various bank regulations and supervisions using a panel of about 17,000 bank-year data during 1992-2002 around 60 countries. We first theoretically show that deposit interest rate and its sensitivity to...

We investigate the motives and consequences of the consolidation of cooperative banks (Shinkin) in Japan during the period 1984-2002. Our major findings are as follows. First, less profitable and less cost efficient banks are more likely to be an acquirer and a target, though even less...

This paper investigates the effect of export activities on firm performance by taking into account whether or not exporter firms' affiliated companies (i.e., their own subsidiaries and parent companies' branches) are located in the export markets. To single out a causal impact on firm...

Using a large dataset of Japanese firms spanning the period from 1995 to 2011, we analyze private firms' going-public decision as well as their post-initial public offering (IPO) behavior and performance. To this end, we adopt the propensity-score matching difference-in-differences (PSM-DID)...

This study investigates the effect of a negative demand shock on the composition of the type of workers at firms, focusing on the change in the share of temporary agency in all workers. To clearly identify the causal link between the demand a firm faces and the composition of its workforce in...

The gap between marginal revenues and marginal costs of inputs (i.e., distortions or wedges) at establishments potentially lower aggregate total factor productivity (TFP) by preventing efficient allocation of resources among incumbents, deterring entry and exit, and affecting technology choices....

This paper examines the effect of negative demand shocks on the labor composition of firms, focusing on the change in the ratio of temporary agency workers to all workers.To distinguish a causal link from product demands to employee composition from the reverse causation, we used the global...

We investigate the impact of merger on innovation and efficiency using a micro dataset of Japanese manufacturing firms including unlisted firms during the period of 1995-1999. We find that the acquirer's total factor productivity (TFP) decreases immediately after mergers and does not...

This paper analyzes changes in corporate performance pre-and post-merger, using a database of 1,590 corporate mergers (including unlisted companies), which took place between 1994 and 2002. The database was created using RECOF Corporation's M&A data and firm-level data from the Basic Survey of...