This article examines the valuation effects of new equity issues by Japanese banks through private placement. Although past studies have shown a positive market response to private placement, our results indicate that abnormal returns are, on average, positive but statistically insignificant....

This study examines how information broadcasting through television (TV) media influences stock market activities. Consistent with the effect of TV information to attract investor attention, we find that increased information flow through TV is significantly associated with greater trading...

Corporate governance (CG) reformists typically presume better-governed companies are more transparent to investors. We focus on CG and transparency in Japan, where CG has been an ongoing issue. Using local ratings of Japanese companies' CG, and data on corporate disclosures and their associated...