This book theoretically and empirically explores why Japanese banks engaged in seemingly contradictory behaviors in the 1990s, namely, the credit crunch and evergreening, i.e., inefficient additional lending. A credit crunch occurs when banks are unwilling to finance good and efficient projects....

Purpose: The purpose of this paper is to provide new empirical evidence on the important role of market transparency in international real estate investment. Design/methodology/approach: The authors apply the augmented panel regression method (or the correlated random effects approach) by using...