This study investigates whether asymmetric responses exist among the stock price indices of China, Japan, and South Korea. Using regression and vector auto-regression (VAR) models, this paper empirically tests for the existence of both magnitude asymmetry and pattern asymmetry among these...

I investigated the questions of how the debt ratios in Korean companies have changed over the last 25 years and how the functional relationship with explanatory variables has changed over the same period. Using both the well-known model by Rajan and Zingales (1995) and the annual data, I...