The structure of the Japanese stock market

Yasuhiro Yonezawa; Kazuhiro Miyake

doi:10.1023/A:1009619022370

The structure of the Japanese stock market

Yasuhiro Yonezawa^*, Kazuhiro Miyake

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

3 Citations (Scopus)

Abstract

The Japanese stock market is characterized by two prominent features. First, stock prices have been extremely volatile over the past ten years. Second, the market is dominated by cross-shareholdings and stagnant individual stock ownership. So, there are two purposes on this paper. The first is to assess the effects of stock cross-holdings on the stock market. The second is to look at recent stock price fluctuations, in the bubble period before 1990 and during the subsequent collapse. It will be recognized that these two features are interrelated.

Original language	English
Pages (from-to)	1-28
Number of pages	28
Journal	Asia-Pacific Financial Markets
Volume	5
Issue number	1
DOIs	https://doi.org/10.1023/A:1009619022370
Publication status	Published - 1998
Externally published	Yes

Keywords

Bubble
Corporate governance
Japanese stock market
Stock cross-shareholdings

ASJC Scopus subject areas

Finance

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10.1023/A:1009619022370

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AB - The Japanese stock market is characterized by two prominent features. First, stock prices have been extremely volatile over the past ten years. Second, the market is dominated by cross-shareholdings and stagnant individual stock ownership. So, there are two purposes on this paper. The first is to assess the effects of stock cross-holdings on the stock market. The second is to look at recent stock price fluctuations, in the bubble period before 1990 and during the subsequent collapse. It will be recognized that these two features are interrelated.

KW - Bubble

KW - Corporate governance

KW - Japanese stock market

KW - Stock cross-shareholdings

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The structure of the Japanese stock market

Abstract

Keywords

ASJC Scopus subject areas

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