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220928 ||| eng |
020 |
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|a 9781451874402
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100 |
1 |
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|a Chan-Lau, Jorge
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245 |
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|a Corporate Restructuring in Japan
|b An Event-Study Analysis
|c Jorge Chan-Lau
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2001
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300 |
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|a 15 pages
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651 |
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4 |
|a Japan
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653 |
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|a Depository Institutions
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653 |
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|a Inflation
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653 |
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|a Commercial banks
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653 |
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|a Banks
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653 |
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|a Labour
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653 |
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|a Corporate Finance and Governance: Government Policy and Regulation
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653 |
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|a Banks and banking
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653 |
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|a Financial institutions
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653 |
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|a Deflation
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653 |
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|a Ownership & organization of enterprises
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653 |
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|a Micro Finance Institutions
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653 |
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|a Corporate Finance and Governance: General
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653 |
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|a Mortgages
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653 |
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|a Economic sectors
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653 |
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|a Corporate Finance
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653 |
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|a Business enterprises
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653 |
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|a Corporate sector
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653 |
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|a Labor
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653 |
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|a Labor Force and Employment, Size, and Structure
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653 |
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|a Asset prices
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653 |
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|a Price Level
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653 |
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|a Labor force
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653 |
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|a Banks and Banking
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653 |
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|a Labor market
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653 |
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|a Corporate Governance
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653 |
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|a Prices
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653 |
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|a Macroeconomics
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653 |
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|a Banking
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653 |
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|a Role & responsibilities of boards & directors
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653 |
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|a Corporate governance
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653 |
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|a Income economics
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041 |
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7 |
|a eng
|2 ISO 639-2
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989 |
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|b IMF
|a International Monetary Fund
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|a IMF Working Papers
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028 |
5 |
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|a 10.5089/9781451874402.001
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856 |
4 |
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|u https://elibrary.imf.org/view/journals/001/2001/202/001.2001.issue-202-en.xml?cid=15530-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a The implementation of the Commercial Rehabilitation Law (CRL) on April 1, 2000 was considered a key event in setting up the official infrastructure supporting corporate restructuring in Japan. This study evaluates the stock price impact of restructuring announcements before and after the CRL implementation using event-study analysis. Following the CRL implementation, the results suggest an improvement in market credibility of restructuring announcements based on improvements in disclosure, mergers, and to a lesser extent, labor force reductions. In contrast, credibility of restructuring announcements aimed at reducing excess capital deteriorated
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