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Japanese Capital Markets
New Developments in Regulations and Institutions
Shinji Takagi (Edited by), Takagi (Author)
9781557862556, Wiley
Hardback, published 10 June 1993
580 pages
24.4 x 16.6 x 3.8 cm, 0.992 kg
Japanese financial markets have grown dramatically and changed substantively in recent years. By surveying institutional changes and studying recent academic analyses, Japanese Capital Markets provides the first relatively non-technical and comprehensive introduction to the new developments in capital and other related markets in Japan. The book is divided into six parts: International Aspects of Japanese Capital Markets; The Framework of Capital Markets; Thte Bond Market; The Equity Market; Futures, Money and Foreign-Exchange Markets; and Investment Trusts and Securities Financing. The editor and contributors have focused primarily on the institutional details of the various markets (including stock markets, bond markets, and futures and options markets). However, there are also chapters on theoretical issues, legal and regulatory issues, and recent policy changes and developments including the foreign-exchange market, securities financing and securities market regulation. The contributors include academics and practitioners from the US, Japan and Europe. They are all recognized experts on the Japanese financial system and they have been commissioned to write on their respective fields of expertise with include economics, finance, banking and law. The book is rich in both institutional and analystical information, some of which has not previously been made available in English. The contributors have also provided new information obtained either from original research or from operational experience.
List of Figures v List of Tables viii List of Contributors xiii List of Abbreviations xv Introduction I INTERNATIONAL ASPECTS OF JAPANESE CAPITAL MARKETS 19 1. The Japanese Financial System and the Cost of Capital 2. International Capital Flows and an Open Economy: the Japanese Experience II. THE FRAMEWORK OF CAPITAL MARKETS 131 3. Corporate Finance in Japan 4. The Securities Industry in Japan 5. The Regulatory Environment for Japanese Capital Markets III. THE BOND MARKET 213 6. The Japanese Bond Market 7. The Secondary Government Bond Market in Japan IV. THE EQUITY MARKET 277 Seasoned Equity Issues in Japan 9. The Organization and Microstructure of the Secondary Stock Market in Japan 10. Stock Return Regularities on the Tokyo Stock Exchange 11. Modeling the Behavior of Japanese Stock Indices V. FUTURES, MONEY, AND FOREIGN EXCHANGE MARKETS 401 12. Stock Futures and Options Markets in Japan 13. The Money Markets in Japan 14. The Foreign Exchange Market in Japan VI. INVESTMENT TRUSTS AND SECURITIES FINANCING 487 15. The Structure and Performance of Investment Trusts in Japan 16. Securities Financing in Japan Index 557
Shinji Takagi 1
Jeffrey A. Frankel 21
Richard C. Koo 78
James E. Hoddar and Adrian E. Tschoegl 133
Megumi Suto 164
Hideki Kanda 196
Shigeru Yamamoto 215
Toshiharu Takahashi 249
Hideki Hanaeda 279
Shinji Takagi 302
Kiyoshi Kato 340
Adrian E. Tschoegl 371
Tomohiko Adachi and Motonari Kurasawa 403
Colin McKenzie 426
Fumihiko Tateno 452
Junko Maru 489
Ulrike Schaede 517
Subject Areas: Economics [KC]
