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The Bank of Japan's equity purchases and stock price crash risk

El Kalak, Izidin ORCID:, Tosun, Onur Kemal ORCID: and Yamada, Kazuo 2023. The Bank of Japan's equity purchases and stock price crash risk. Economics Letters 229 , 111214. 10.1016/j.econlet.2023.111214
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This paper documents a negative relationship between the Bank of Japan’s indirect ownership, through ETFs, in a firm and the firm’s stock price crash risk. This relationship strengthens further after the introduction of the Stewardship Code due to improved corporate governance.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Publisher: Elsevier
ISSN: 0165-1765
Date of First Compliant Deposit: 24 June 2023
Date of Acceptance: 1 June 2023
Last Modified: 06 Dec 2023 04:03

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