Land prices and its effect on the Japanese bank stocks

Athambawa Abdul Azeez*, Yasuhiro Yonezawa, Sriyama Kanthi Herath

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

4 Citations (Scopus)


This study attempts to shed light on whether land price movements have contributed to fluctuations in bank stock returns. Although the aim of this paper is to see the relationship between land prices and bank stock returns, other macroeconomic factors have also been included in order to use the multifactor APT model. We find that land price is a significant risk factor affecting the Japanese bank stock returns during the bubble period in addition to other factors such as exchange rate, inflation and money supply.

Original languageEnglish
Pages (from-to)104-117
Number of pages14
JournalInternational Journal of Electronic Finance
Issue number1
Publication statusPublished - 2006


  • APT
  • E-finance
  • Exchange rate
  • Japanese bank stocks
  • Land prices

ASJC Scopus subject areas

  • Finance
  • Computer Science Applications
  • Computer Networks and Communications
  • Management of Technology and Innovation


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