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How Did Japanese Investments Influence International Art Prices?

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Listed:
  • Takato Hiraki
  • Akitoshi Ito
  • Darius Spieth
  • Naoya Takezawa

Abstract

This study examines dynamics among the art, Japanese land, Japanese and U.S. stock market prices during the sample period from 1976 to 1998. We find that the Japanese land prices caused both art and Japanese stock prices to co-move during the sample period. We interpret this finding as suggesting that the accelerated appreciation of land prices in Japan stimulated Japanese investor demands for both international arts and Japanese stocks, especially, in

Suggested Citation

  • Takato Hiraki & Akitoshi Ito & Darius Spieth & Naoya Takezawa, 2005. "How Did Japanese Investments Influence International Art Prices?," Yale School of Management Working Papers ysm367, Yale School of Management.
    • Handle: RePEc:ysm:wpaper:ysm367
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    File URL: https://repec.som.yale.edu/icfpub/publications/2536.pdf
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    References listed on IDEAS

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