RICHARD BEASON is Associate Professor in the Faculty of Business, the University of Alberta, CanadaJASON JAMES is a strategist at James Cabel, Tokyo.

"This is a useful handbook for anyone contemplating investing in Japanese markets." - Foreign Affairs"...it combines a solid grounding in economic theory with an empirical richness that would require a year's subscription to Euromoney and Institutional Investor to match...I would recommend this book..." - Journal of Asian Studies

• PART I: DEVELOPMENT OF THE INTERMEDIATED STRUCTURE Introduction The High Degree of Intermediation: the Financial Structure 1954-1975 Toward a More Liberal Structure PART II: BREAKDOWN AND TOWARD MATURITY End of the Party (But not the End of the World) Japans Financial Crisis PART III: INSTITUTIONS Institutions, Accounting Practices and Incentives in Japanese Equity and Other Financial Markets Political Change and the Financial Markets Public Funds, 'Price-Keeping Operations' Deregulation and 'Big Bang' PART IV: SOME STICKY QUESTIONS The Cost of Capital in Japan and Semantics of the Bubble Japanese Equity Market Valuation Concluding Remarks

RICHARD BEASON is Associate Professor in the Faculty of Business, the University of Alberta, CanadaJASON JAMES is a strategist at James Cabel, Tokyo.

"This is a useful handbook for anyone contemplating investing in Japanese markets." - Foreign Affairs"...it combines a solid grounding in economic theory with an empirical richness that would require a year's subscription to Euromoney and Institutional Investor to match...I would recommend this book..." - Journal of Asian Studies

• PART I: DEVELOPMENT OF THE INTERMEDIATED STRUCTURE Introduction The High Degree of Intermediation: the Financial Structure 1954-1975 Toward a More Liberal Structure PART II: BREAKDOWN AND TOWARD MATURITY End of the Party (But not the End of the World) Japans Financial Crisis PART III: INSTITUTIONS Institutions, Accounting Practices and Incentives in Japanese Equity and Other Financial Markets Political Change and the Financial Markets Public Funds, 'Price-Keeping Operations' Deregulation and 'Big Bang' PART IV: SOME STICKY QUESTIONS The Cost of Capital in Japan and Semantics of the Bubble Japanese Equity Market Valuation Concluding Remarks

RICHARD BEASON is Associate Professor in the Faculty of Business, the University of Alberta, CanadaJASON JAMES is a strategist at James Cabel, Tokyo.

"This is a useful handbook for anyone contemplating investing in Japanese markets." - Foreign Affairs"...it combines a solid grounding in economic theory with an empirical richness that would require a year's subscription to Euromoney and Institutional Investor to match...I would recommend this book..." - Journal of Asian Studies

• PART I: DEVELOPMENT OF THE INTERMEDIATED STRUCTURE Introduction The High Degree of Intermediation: the Financial Structure 1954-1975 Toward a More Liberal Structure PART II: BREAKDOWN AND TOWARD MATURITY End of the Party (But not the End of the World) Japans Financial Crisis PART III: INSTITUTIONS Institutions, Accounting Practices and Incentives in Japanese Equity and Other Financial Markets Political Change and the Financial Markets Public Funds, 'Price-Keeping Operations' Deregulation and 'Big Bang' PART IV: SOME STICKY QUESTIONS The Cost of Capital in Japan and Semantics of the Bubble Japanese Equity Market Valuation Concluding Remarks