In the study of earnings management, researchers attempt to know the reason managers manipulate earnings of a company. Some preceding studies have focused on the distribution of reported earnings, and they treat the evidence of manipulation on earnings as discontinuity (at most cases around zero...

This paper analyzes the determinants of real wages in Japan by using panel data. One finding is that the dispersion of sales across industries tends to suppress wage increases in Japan. In addition, a comparison of Japan's prewar and postwar economies presents some evidence suggesting that the...