Add to ORKGtextabstractWe examine fees on bonds issued by Japanese corporations during the 1994-2002 period. We relate fees to firms’ membership of bank-led (financial) keiretsu. For the full sample of firms, we establish a positive relation between fees and risk factors. Over time, we find that fees have increased for those firms that are related to financial keiretsu, even after controlling for risk factors. But during the same period, fees have fallen for firms not belonging to keiretsu. It seems that, against the background of bond market deregulation and weaker banks, keiretsu membership has become a burden rather than an advantage
The question of which factors are relevant in determining bond underwriting fees is empirically inve...
"The question of which factors are relevant in determining bond underwriting fees is empirically inv...
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We examine the impact of foreign underwriting activity using issue-level data in the Japanese “Samur...
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This article examines the role of keiretsu (i.e. business group) affiliation on the risk-taking of J...
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We propose a U-shaped relation between the relative weight of bank loans in total corporate debt and...
The question of which factors are relevant in determining bond underwriting fees is empirically inve...
For most of the postwar period, the U.S. and Japan have had polar opposite corporate financial struc...
This Version: October 2006We examine how borrower firm characteristics affect the size structure in ...
The question of which factors are relevant in determining bond underwriting fees is empirically inve...
"The question of which factors are relevant in determining bond underwriting fees is empirically inv...
The paper documents that for 1974-95 the Japanese non-financials' return on cost, a measure of retur...
We examine the impact of foreign underwriting activity using issue-level data in the Japanese “Samur...
This paper examines a recent major change in the corporate bond primary market in Japan, namely bond...
A notable feature of the Japanese corporate finance environment is the existence of close financial ...
In 1993, the corporate bond primary market in Japan underwent a major change. The Financial System R...
This paper examines the effect of the ownership structure (of debt and equity) on the agency problem...
Abstract: The 1993 Japanese financial system reform allowed banks to provide underwriting services i...
This article examines the role of keiretsu (i.e. business group) affiliation on the risk-taking of J...
Abstract: The purpose of this paper is to examine the impact of three events on spreads on yen denom...
We propose a U-shaped relation between the relative weight of bank loans in total corporate debt and...
The question of which factors are relevant in determining bond underwriting fees is empirically inve...
For most of the postwar period, the U.S. and Japan have had polar opposite corporate financial struc...
This Version: October 2006We examine how borrower firm characteristics affect the size structure in ...
The question of which factors are relevant in determining bond underwriting fees is empirically inve...
"The question of which factors are relevant in determining bond underwriting fees is empirically inv...
The paper documents that for 1974-95 the Japanese non-financials' return on cost, a measure of retur...