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Title
A Review of Japan's Bank Crisis from the Governance Perspective
Creator
Creator Name
Hanazaki, Masaharu Hanazaki, Masaharu
花崎, 正晴 花崎, 正晴
ハナザキ, マサハル ハナザキ, マサハル
Affiliation
Affiliation Name
Hitotsubashi University
Creator Name
Horiuchi, Akiyoshi Horiuchi, Akiyoshi
堀内, 昭義 堀内, 昭義
ホリウチ, アキヨシ ホリウチ, アキヨシ
Affiliation
Affiliation Name
University of Tokyo
Editor
Contributor Name
Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University
Abstract
Why has Japan suffered from the NPL problem for such a long time? We will answer to this question from a governance perspective that emphasizes important influence of the governance structure on bank management. In our opinion, Japan failed to motivate banks to play the role of monitoring essential to the bank-centered financial system. We will stress that there existed a vacuum of governance in the bank management in the sense that bank managers were not effectively disciplined as to attain sufficient prudence in there management. The vacuum of governance accounts for the fragility of the banking sector and, more importantly, the prolongation of the NPL problem in Japan.
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2002-07
Language
英語(eng)
Resource Type
technical report（テクニカルレポート）
Version Type
VoR
Relation - Is Part Of
Related Title
CEI Working Paper Series ; No. 2002-3
Relation
Related Identifier
URI
  http://cei.ier.hit-u.ac.jp/index.html
NCID
AA11590659
Number of Pages
38
Appears in Collections
CEI Working Paper Series
URL
https://hdl.handle.net/10086/13934