Recently, Japanese commercial banks have been expanding their fee-based business. The present study conducts a panel-data analysis to investigate the impact of such a diversification of commercial banking on the variability of banks' profitability and the stability of their management. Our...

Closer relationships are now being observed between the uncollateralized call rate, which is heavily influenced by the Bank of Japan's money market operations, and the Euroyen rate and the yen funding rate in the dollar/yen swap market, reflecting more dynamic arbitrage operations by...

We obtain and analyse non-public data on fundraising records for equity crowdfunding (ECF) in Japan. We are the first to sketch its modality in relation to small and nascent companies' demand for equity and their popularity amongst capital providers (backers). We find that backers' financial...

By conducting international panel-data regressions to investigate the association between the total market value of indexed companies and the book value of their cash holdings in 18 countries’ representative stock indices over the period 2009–2019, I find that corporate cash was valued...

In the credit default swap (CDS) market, Japan’s major companies are regarded on average as having weak pathways leading from their stakeholder relationships to reducing their default risks. This assertion is based on panel data analyses to investigate the determinants of companies’ CDS...