A case study of the Japanese bank recapitalization by Hoshi and Kashyap (2005) identified a bank that overstated the progress of required personnel downsizing by shifting employees to subsidiaries. This paper asks if the recapitalization program had a systematic flaw in design. We focus on...

Since small businesses typically rely on small banks as their primary source of financing, there are concerns that the wave of bank consolidation of the 1990s may have reduced the availability of loans to small businesses in the US. Using a panel of state-level banking information over...

We present a novel analysis of the relation between board's network structure and mandatory reorganization in the context of Japanese banks. Using a unique data set on individual board member characteristics, we produce the networks of corporate boards in Japanese banks; we look at the changes...