authority of Japan because it has accumulated the debt outstanding much more than other countries …The purpose of this paper is to analyze sustainability issues of Japan's fiscal policy and then to discuss the debt …

Past government spending in Japan is currently imposing a significant fiscal burden that is reflected in a net debt to …

Japan's low-rate policies on its government and households. Because of the duration mismatch on the government balance sheet …

Is greater trading liquidity good or bad for corporate governance? We address this question both theoretically and … information concerns her own plans for taking an active role in governance. We show that an increase in the liquidity of the firm …'s stock increases the likelihood of the large investor 'taking the Wall Street walk.' Thus, higher liquidity is harmful for …

This paper studies the effect of stock liquidity on blockholders' choice of governance mechanisms. We focus on hedge … measure governance intent rather than only studying instances of actual governance. We find that liquidity increases the … likelihood that a hedge fund acquires a block in a firm. Conditional upon acquiring a stake, liquidity reduces the likelihood …