In 2006, the United Nations Global Compact launched Principles for Responsible Investment (PRI), and the Japanese Ministry of Environment advocated financial mechanisms for environmental protection. We find that institutional ownership in 2005 is positively related to the probability of...

We find that the portfolio of Korean firms with small accounts payable and large accounts receivable experiences negative excess returns when investors learn that North Korea sank a South Korean warship in May 2010. The negative effect of small accounts payable (large accounts receivable) is...

This paper investigates whether stock option grants increase managerial risk taking in Japan by using intraday stock return data as well as daily stock return data and yearly financial data. As with previous US studies, we find that firms that announce stock option grants experience...

This paper compares the reaction of bidders' stock prices to acquisition announcements by regulated non-financial firms, banks, and unregulated companies in Japan. Results suggest that regulated non-financial firms do not experience a significant stock price response at M&A announcements,...

Previous studies have investigated the argument that corporate governance structures in emerging markets affected firms' stock price performance during the East Asian economic crisis. In this chapter, we analyze how corporate governance structures in an industrial country (Japan) affect firms'...