Keiretsu Affiliation and Share Price Volatility in Japan
Pacific-Basin Finance Journal, Vol. 6, No. 1-2, 1998
University of Alberta School of Business Research Paper No. 2013-324
Posted: 27 May 2013
Date Written: May 1, 1997
Abstract
It has been argued that keiretsu affiliation among Japanese firms gives rise to more stable management practices which result in more stable but lower average profits for member firms relative to independent firms. Using financial market performance data, such as the volatility of share prices, we find no evidence to support this hypothesis.
Keywords: Volatility, Keiretsu, Cross holding, Portfolio variance
JEL Classification: G14, G19, G32, P43, C33
Suggested Citation: Suggested Citation
Dick Beason (Contact Author)
University of Alberta - Department of Marketing, Business Economics & Law ( email )
Edmonton, Alberta T6G 2R6
Canada
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