We study how the tradeoff between stock liquidity and stock market scrutiny affects various aspects of corporate policy, using data that cover public and private companies in Japan. We exploit legal reforms as the source of exogenous variation in stock market listing. The sample used in our main...

This study attempts to characterise capital structure on the basis of country's economic factor, industry class, and firm-specific factors in three Asian countries, Japan, Malaysia, and Pakistan. Firm-specific factor studies include firm's growth, size, assets, composition, profitability,...