NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Kaoru Hosono

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Working Papers

September 2007Consolidation of Banks in Japan: Causes and Consequences
with Koji Sakai, Kotaro Tsuru: w13399
We investigate the motives and consequences of the consolidation of banks in Japan during the period of fiscal year 1990-2004 using a comprehensive dataset. Our analysis suggests that the government's too-big-to-fail policy played an important role in the mergers and acquisitions (M&As), though its attempt does not seem to have been successful. The efficiency-improving motive also seems to have driven the M&As conducted by major banks and regional banks in the post-crisis period, while the market-power motive seems to have driven the M&As conducted by regional banks and corporative (shinkin) banks. We obtain no evidence that supports managerial motives for empire building.

Published: Consolidation of Banks in Japan: Causes and Consequences, Kaoru Hosono, Koji Sakai, Kotaro Tsuru. in Financial Sector Development in the Pacific Rim, East Asia Seminar on Economics, Volume 18, Ito and Rose. 2009

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers onlyInformation about this author at RePEc

 
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