This paper describes the transformation of Japan's accounting standards over the past 2 decades and the driving forces behind this transformation. It also analyzes the current state of Japan's accounting standards, which are characterized by the dichotomy of accounting systems inherited from the...

Using data from Japanese commercial banks during 2002-2012, we explore the relationship between banks' choice of capital buffers and prevailing macroeconomic conditions. We find a positive relationship between capital buffers and the phase of the business cycle, and further find that this...

The authors describe an empirical study of fair value accounting, applying to data on Japanese banks the analytical methods of Barth, Landsman, and Wahlen. They also discuss a further study of regulatory risk in capital requirements associated with fair value accounting, focusing on banks with...