TY - JOUR
T1 - The structure of the Japanese stock market
AU - Yonezawa, Yasuhiro
AU - Miyake, Kazuhiro
PY - 1998
Y1 - 1998
N2 - 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.
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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U2 - 10.1023/A:1009619022370
DO - 10.1023/A:1009619022370
M3 - Article
AN - SCOPUS:54749137778
VL - 5
SP - 1
EP - 28
JO - Asia-Pacific Financial Markets
JF - Asia-Pacific Financial Markets
SN - 1387-2834
IS - 1
ER -