Hamao, Yasushi; Mei, Jianping; Xu, Yexiao - National Bureau of Economic Research (NBER) - 2003
The dramatic rise and fall of the Japanese equity market provides a unique opportunity to examine market-and firm-specific risks over different market conditions. The price behavior of Japanese equities in the 1990s is found to resemble that of U.S. equities during the Great Depression. Both...
