Journal Article

In brief economic capsules: equity carve-outs in Tokyo

Abstract: The author examines the pricing of U.S. subsidiaries and U.S. joint ventures \"carved out\" and taken public on the Tokyo stock market in recent years. In comparing the price-earnings multiples obtained by the carve-outs with the contemporaneous multiples of their parent companies, he offers some perspective on the broader pricing discrepancy between the Japanese and U.S. markets in the late 1980s.

Keywords: Japan; Stock - Prices - Japan;

Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Quarterly Review

Publication Date: 1990

Volume: 15

Issue: Win

Pages: 60-64