Deregulation, Monitoring and Ownership Structure : A Case Study of Japanese Banks
This paper will investigate deregulation and the adaptation of governance structure in reference to Japan's banking industry. Deregulation of Japanese banks in the 1980s offers an interesting case study as these banks fell into serious solvency problems in the post-deregulation 1990s. By examining the shareholders' response to Japanese banking deregulation, this paper attempts to shed a new light to the debate on what went wrong with Japanese banks from the agency relationship perspective.