resolve the problem of information asymmetry. However, after controlling for bank capital, the valuation effects for banks … correlation between Nonperforming Loans (NPLs) and valuation effects. This indicates that an increase in the uncertainty of bank …

from banks. This study marks a departure from existing accounts that (1) treat Japan as a unified front merely seeking to …

for sensitivity to common risk factors in bank stock returns. We also relate the cross-sectional variation in market … strong predictive indicator for bank's share performance during the financial crisis in the late 1990s, even after …