This paper explores the relation between corporate governance mechanisms in Japan and the costs of public debt financing. Using a sample of Japanese corporate bond issues during the period 2005-2008, we find that CEO ownership is associated with higher yield spreads after controlling for firm-...

This paper examines whether trade credit as a credible signal about firmfs creditworthiness to banks facilitates provision of bank credit to the firms receiving trade credit. Using data on Japanese manufacturing firms over the period 1990-1995, we find that firms receiving trade credit are...

This paper investigates whether managerial entrenchment of controlling shareholders affects corporate bond financing. Using data on Japanese manufacturing firms, we find that firms with controlling shareholders issue less straight corporate bonds than other firms. The results show that...

This paper investigates whether managerial entrenchment of controlling shareholders affects the distribution of bankers to the boards of Japanese manufacturing firms. Bankers are not likely to be appointed to firms with large corporate shareholders as controlling shareholders because large...

This paper examines whether IT (information technology) management enhances the effects of IT investments. Our empirical analyses are based on the unique survey data. Main findings are as follows. Firms with IT management have higher effects of IT investments. The result holds when the indexes...