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Purpose The ownership structure in Japanese firms has experienced a significant change recently, fueled primarily by regulatory changes. This has important repercussions on corporate performance and risk. This paper examines the impact of insider ownership on the default risk of Japanese firms....
Persistent link: https://www.econbiz.de/10014636984
Persistent link: https://www.econbiz.de/10003070789
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This paper examines how collateral and personal guarantees affect firms' ex-post performance employing a propensity …-and-medium-sized borrower firms in Japan, we find that borrowers that provide collateral to lenders experience larger increases in profitability … and reductions in riskiness than borrowers that do not. This finding is consistent with the hypothesis that collateral …
Persistent link: https://www.econbiz.de/10013095220
identify two possible transmission channels from financial shocks to FDI: (i) a collateral channel, whereby changes in the … value of collateral affect investors’ ability to borrow; and (ii) a lending channel, whereby changes in bank health affect …
Persistent link: https://www.econbiz.de/10010491661
identify two possible transmission channels from financial shocks to FDI: (i) a collateral channel, whereby changes in the … value of collateral affect investors’ ability to borrow; and (ii) a lending channel, whereby changes in bank health affect …
Persistent link: https://www.econbiz.de/10010496990
. Contrary to the predictions of the existing theory, we find that better judicial enforcement increases the probability of being …
Persistent link: https://www.econbiz.de/10013149663
This paper discusses how financial crises in emerging Asia and Japan worked as catalysts for legal reforms. Findings show that six Asian countries pursued significant legal and judicial reforms following financial crises in 1997-1998, but indicators that measure the quality of legal institutions...
Persistent link: https://www.econbiz.de/10013062064
. Contrary to the predictions of the existing theory, we find that better judicial enforcement increases the probability of being …
Persistent link: https://www.econbiz.de/10003921866