A Vacuum of Governance in Japanese Bank Management

Masaharu Hanazaki and Akiyoshi Horiuchi

Chapter 6 in Banking, Capital Markets and Corporate Governance, 2001, pp 133-180 from Palgrave Macmillan

Abstract: Abstract This paper overviews the bank crisis Japan has faced since the early 1990s. Undeniably, the current bank crisis is the aftermath of the financial overexpansion that occurred in the late 1980s. However, this paper focuses on the issues related to managerial governance in the banking sector. We propose a hypothesis that there has existed a vacuum of governance in Japanese bank management in the sense that bank managers have enjoyed wide latitude. This hypothesis of the governance vacuum will explain why the bank crisis has been so serious and so protracted.

Keywords: Banking Sector; Deposit Insurance; Bank Failure; Bank Management; Bank Crisis (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28814-0_6

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DOI: 10.1057/9780230288140_6

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