Nakagawa, Ryuichi; Uchida, Hirofumi - Econometric Society - 2004
This paper investigates whether Japanese banks had been following herd behavior in the domestic loan market from 1975 …. Consistent herding during the entire sample period is observed among regional banks, whereas city banks had been following a … from rational or institutional factors, we still observe herding for regional banks in the entire period, whereas herding …
