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20122026
most citedA Test of the Adaptive Market Hypothesis using a Time-Varying AR Model in Japan

89 citations · 303 across the 16 of their papers we have counts for

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econ.GN2026

Wartime Controls, Political Connections, and the Pricing of Zaibatsu Rents in Japan, 1930-1943

Keiichi Morimoto, Akihiko Noda, Takenobu Yuki

This paper examines how wartime economic controls shaped stock-price formation in Japan from 1930 to 1943. We develop a four-portfolio asset-pricing model in which zaibatsu affilia…