Previous studies have investigated the argument that corporate governance structures in emerging markets affected firms' stock price performance during the East Asian economic crisis. In this chapter, we analyze how corporate governance structures in an industrial country (Japan) affect firms'...

Recently in Japan, the Banks' Shareholdings Restriction Law requires that banks substantially decrease shareholdings. This study examines firms that experienced a 5% or greater reduction in percentage ownership by banks for a year during 2001–2004. Results show that those firms improve their...