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In this paper, I investigate how variance risk premiums change as firms age. Negative variance risk premiums represent profits that, on average, accrue to traders willing to sell option protection to other investors. Although typical risk measures decrease as firms age, my results suggest that...
Persistent link: https://www.econbiz.de/10014257032
This paper reports on the views of business students in Fukuoka, Japan. A survey was conducted asking them to give …
Persistent link: https://www.econbiz.de/10014257114
Japan. The effects of occupational characteristics, municipal fear of infection risk, local labor market tightness and …
Persistent link: https://www.econbiz.de/10014257193
Does the market value the environmental, social, and governance (ESG) performance of firms in corporate bond credit spreads? In this study, we construct the firm-level corporate bond credit spread based on the ‘bottom-up’ approach and examine the relationship between corporate ESG...
Persistent link: https://www.econbiz.de/10014257247
’ risk-taking, utilizing a regulatory change in Japan relating to banks’ shareholding as an instrument. We find that an …
Persistent link: https://www.econbiz.de/10014257299
This paper investigates why corporations hire outside board of directors and how the outside directors affect firm performance. I use a sample of large Japanese corporations to test my hypotheses. Using a sample of 173 unique firms during the 2011-2021 period, I find that firms on average...
Persistent link: https://www.econbiz.de/10014257584
Since Japan’s recent financial liberalization, online securities transactions have grown rapidly and changes have been …
Persistent link: https://www.econbiz.de/10014257757
rebuilt from scratch after wartime devastation, and its land use is deeply shaped by that history. As for regulation, Japan …
Persistent link: https://www.econbiz.de/10014257866
We show that the moving averages (MAs) of stock market indices act as psychological barriers and affect investors' trading. Market indices do not move continuously near their MAs, especially in markets dominated by unsophisticated investors. Utilizing international markets data, we show that the...
Persistent link: https://www.econbiz.de/10014258709
This paper attempts to investigate the practice of corporate governance in Japan since it has largely contributed to … the country’s financial management. That, in turn, led to the unprecedented economic boom of Japan. The practice and … objective of corporate governance have got a different momentum in Japan despite its origin from the firm’s Anglo …
Persistent link: https://www.econbiz.de/10014258743