We analyze the characteristics of the firms that introduce anti-takeover provisions using a Japanese firm-level dataset. We find that the likelihood of the adoption of antitakeover provisions is correlated positively with firm age and the proportion of cross-shareholding and negatively with the...

We investigate the international transmission of the credit crisis triggered by the Lehman default in September 2008 using Japan's stock market data. Using cumulative returns (CR) during the crisis, starting from the day of Lehman's default and lasting until the day prior to the news of the TARP...