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Federal Reserve Bank of Chicago
Economic Perspectives
Assessing the condition of Japanese banks: how informative are accounting earnings?
Hesna Genay
Abstract

This article examines the accounting and stock market performance of banks from 1991 to 1997. Overall, the results indicate that the accounting, disclosure, and regulatory practices of Japanese banks have drive a wedge between their accounting and stock market returns in recent years and, furthermore, that regulatory forbearance might have become a more important source of value to shareholders than the value of assets in place.


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Hesna Genay, "Assessing the condition of Japanese banks: how informative are accounting earnings?" , Federal Reserve Bank of Chicago, Economic Perspectives, issue Q IV, pages 12-34, 1998.
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Keywords: Bank profits - Japan ; Japan ; Stock market - Japan ; Accounting
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