Price Of Risk In U S And Japan
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Unequal Equities
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Author : Robert Zielinski
language : en
Publisher: McGraw-Hill Companies
Release Date : 1992
Unequal Equities written by Robert Zielinski and has been published by McGraw-Hill Companies this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Financial institutions categories.
Despite its prominence in world finance, Japan's stock market has remained an enigma to many investors. This book aims to remove the mystery, revealing how Japanese corporations have moulded the market into a cheap source of capital; why most shares of corporations are held by other corporations; what the Keiretsu - secretive stockbroking, insurance and banking cartels - really do; and how the market's 1990 collapse affected these interlocking relationships.
Asset Pricing
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Author : Hsien-hsing Liao
language : en
Publisher: World Scientific
Release Date : 2003
Asset Pricing written by Hsien-hsing Liao and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
Real estate finance is a fast-developing area where top quality research is in great demand. In the US, the real estate market is worth about US$4 trillion, and the REITs market about US$200 billion; tens of thousands of real estate professionals are working in this area. The market overseas could be considerably larger, especially in Asia. Given the rapidly growing real estate securities industry, this book fills an important gap in current real estate research and teaching. It is an ideal reference for investment professionals as well as senior MBA and PhD students. Contents: Introduction: Real Estate Analysis in a Dynamic Risk Environment; The Predictability of Returns on Equity REITs and Their Co-Movement with Other Assets; The Predictability of Real Estate Returns and Market Timing; A Time-Varying Risk Analysis of Equity and Real Estate Markets in the US and Japan; Price Reversal, Transaction Costs, and Arbitrage Profits in Real Estate Securities Market; Bank Risk and Real Estate: An Asset Pricing Perspective; Assessing the OC Santa ClausOCO Approach to Asset Allocation: Implications for Commercial Real Estate Investment; The Time-Variation of Risk for Life Insurance Companies; The Return Distributions of Property Shares in Emerging Markets; Conditional Risk Premiums of Asian Real Estate Stocks; Institutional Factors and Real Estate Returns: A Cross-Country Study. Readership: Financial researchers, real estate investors and investment bankers, as well as senior MBA and PhD students."
Assessing The Risks To The Japanese Government Bond Jgb Market
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Author : Mr.Waikei W. Lam
language : en
Publisher: International Monetary Fund
Release Date : 2011-12-01
Assessing The Risks To The Japanese Government Bond Jgb Market written by Mr.Waikei W. Lam and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-01 with Business & Economics categories.
Despite the rise in public debt, Japanese Government Bond (JGB) yields have remained low and stable, supported by steady inflows from the household and corporate sectors, high domestic ownership of JGBs, and safe-haven flows from heightened sovereign risks in Europe. Over time, however, the market's capacity to absorb new debt will likely shrink as population ages and risk appetite recovers. In the short term, a decline in fund supply from the corporate sector, where financial surpluses are abnormally high, and spillovers from global financial distress could push up JGB yields. Fiscal reforms to reduce public debt more quickly and lengthen the maturity of government bonds will help limit these risks.
Risk Management And Innovation In Japan Britain And The Usa
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Author : Ruth Taplin
language : en
Publisher: Routledge
Release Date : 2005-11-16
Risk Management And Innovation In Japan Britain And The Usa written by Ruth Taplin and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-11-16 with Political Science categories.
Assessing and managing risk is vitally important, and is increasingly studied in a range of areas including politics and international relations, finance and insurance, and innovation and the valuing of intangible assets such as patents and intellectual property. The degree to which innovation is encouraged or otherwise – a key factor for many businesses - depends in part on the attitude towards risk in the context in which it takes place. Taplin considers the different attitudes towards risk and innovation, and the different ways in which risk and innovation are handled, in Japan, Britain the USA. Providing a broad and detailed examination of the subject, she discusses topics including risk management standards, managing risk in marketing, the insurance industry, patents, and in venture capital, and of how risk management in organizations has evolved.
Technology And The Wealth Of Nations
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Author :
language : en
Publisher: Stanford University Press
Release Date : 1992-10
Technology And The Wealth Of Nations written by and has been published by Stanford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992-10 with categories.
Most discussions of U.S. economic competitiveness focus on the creation of new technologies, but the abundant evidence presented in this timely book indicates that the key factor underpinning U.S. competitiveness is not the development of technology itself, but the factors that influence the commercialization of technology. The importance of effective management and performance in the commercialization of new technologies reflects today's changing environment. The post-war decades of undisputed U.S. scientific and technological hegemony have been replaced by a period in which U.S. firms are challenged by foreign competitors in some fields, and struggling to regain their former positions in others. Although the U.S. scientific research establishment arguably has lost little if any of its post-war preeminence, the same cannot be said with respect to the performance of U.S. firms as developers, adapters, and managers of new technologies, largely because government policies have not been conducive to successful commercialization of technology. As we enter the last decade of the twentieth century, economic policy and performance are being linked more and more closely to technology-related issues. Technology commercialization is now recognized as critical to this linkage, and this book constitutes a state-of-the-art analysis of this vital but often overlooked aspect of technological innovation. The sixteen papers in this volume contribute to three important tasks. First, they draw on new developments in theoretical and empirical analysis to integrate the macro-and microeconomic dimensions of technological innovation and commercialization. Second, they extend and enrich the macroeconomic analysis of growth, capital formation, and international economic interactions to highlight the influences of macroeconomic variables on technology commercialization. Technology and capital investment are shown to be complementary inputs to the growth process, which means that favorable investment conditions are prerequisites for higher growth rates. Third, they also extend and enrich the microeconomic analysis of technological innovation and commercialization, in the process providing guidance for managers seeking to improve performance in both of the areas.
Risk Transfer And The Insurance Industry
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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2004-10-21
Risk Transfer And The Insurance Industry written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-10-21 with Business & Economics categories.
This paper focuses on risk transfer and discusses the insurance sector, particularly life insurers. It expands on issues raised in previous Global Financial Stability Reports by asking whether financial stability has benefited or could benefit from insurers’ broader participation in credit markets, including credit derivatives. The paper assesses the impact on financial stability of life insurers’ investment behavior and risk management in the largest mature markets. It highlights that the policy implications differ from market to market, and may offer useful lessons to emerging market countries with developing capital markets.
Asymmetric Shocks And Regional Risk Sharing
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Author : Hiroshi Fujiki
language : en
Publisher:
Release Date : 2005
Asymmetric Shocks And Regional Risk Sharing written by Hiroshi Fujiki and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business cycles categories.
We use the methodology of Kalemli-Ozcan, Sorensen, and Yosha (2003) to calculate the degree of insurance among Japanese prefectures. Prefectural-level data for the fiscal years 1975 to 1999 are used to analyze the impact of idiosyncratic shocks to regional income. The results indicate that about 20% of idiosyncratic shocks to regional income are absorbed by interregional income insurance through the capital market, about 10% is absorbed by the national government through the interregional tax transfer system, and about 60% is absorbed as a result of changes in saving and dissaving.
Regional Risk And Security In Japan
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Author : Glenn D. Hook
language : en
Publisher: Routledge
Release Date : 2015-05-20
Regional Risk And Security In Japan written by Glenn D. Hook and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-20 with Political Science categories.
Japan’s unusual position in the realm of international politics encapsulates a three-fold juxtaposition: both in and out of Asia, both occupied by and a close ally of the United States, and both a key trade partner and a strategic rival of China. Whilst international relations theory offers a number of ways to analyse these relations, this book instead utilizes the concept of risk to provide an innovative perspective on Japan’s relations with China, North Korea and the US. The book elucidates how risk, potential harm and harm are faced disproportionately by certain groups in society. This is demonstrated by providing an empirically rich analysis of the domestic implications of security relations with China, North Korea and the United States through the presence of US troops in Okinawa. Beginning with a theoretical discussion of risk, it goes on to demonstrate how the concept of risk adds value to the study of international relations in three senses. First, the concept helps to break down the boundaries between the international and domestic. Second, the focus on risk and the everyday directs us to ask basic questions about the costs and benefits of a security policy meant to secure the national population. Third, what implications do these two points have for governance? The question is one of governance as Japan’s externally oriented security policy produces domestic insecurity shared disproportionately, not equally, as this volume makes clear. Developing the theory of risk as a tool for understanding international relations, this book will be of great interest to students and scholars of Asian politics, Japanese politics, international relations and security studies, as well as to policy makers and practitioners working in the field.
Siberian Energy For Japan And The United States
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Author : Raymond J. Albright
language : en
Publisher:
Release Date : 1973
Siberian Energy For Japan And The United States written by Raymond J. Albright and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1973 with Energy policy categories.
Japan and the US have similar problems in their accelerating demand for energy and heavy reliance on energy imports. Measures to meet energy requirements are centrally important to economic and foreign policy of both countries. The common course of detente with the USSR leads to parallel interests in acquiring Siberian energy. Project negotiations are seriously underway by Japanese and US companies with the USSR, and these developments pose new policy questions for the governments in Washington and Tokyo. The Japanese and US international search for energy is becoming a test case of cooperation of competition in international trade and monetary affairs. Long-term implications for US foreign, security, economic and environmental policies of the US approach to international energy questions require US governmental organization which can monitor rapid developments and respond with timely decisions, guidance and action.
Pushed Past The Limit How Japanese Banks Reacted To Negative Interest Rates
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Author : Mr.Gee Hee Hong
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-13
Pushed Past The Limit How Japanese Banks Reacted To Negative Interest Rates written by Mr.Gee Hee Hong and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-13 with Business & Economics categories.
In this paper, we investigate how negative interest rate policy (NIRP) introduced in January 2016 by the Bank of Japan (BoJ) affected Japanese banks' lending and risk taking behavior. The BoJ's announcement was an unexpected surprise to the market and was followed by a sharp drop in equity prices of Japanese financial firms. We exploit the cross-sectional variation in the change of share prices on the day of the announcement to measure banks' differential exposure to NIRP. We show that more exposed banks increased their credit and took on more risk compared to banks that were less exposed to negative rates.