In May 1997, the Japanese Commercial Code was amended to allow firms to begin granting stock options as compensation to top management and employees. Nearly 350 firms adopted option-based compensation plans between 1997 and 2001. These options typically have five year lives and are...

"This book collects important contributions in behavioral economics and related topics, mainly by Japanese researchers, to provide new perspectives for the future development of economics and behavioral economics. The volume focuses especially on economic studies that examine interactions of...

Using a specially-constructed dataset, we are able to compare the costs of leasing or borrowing that heretofore no research exists. With a 15% average yield in our overall sample of small contracts, we show that leases average about 12.5% while loans average 24%. After matching paired-samples of...