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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...
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competition effect on systemic-risk. Japan is an interesting case in this venue since its regional banking system has confronted … intensified competition and there is growing evidence that the competition has led the portfolio of Japan's regional banks to be … between competition and systemic-risk for Japan's regional banks. We find that the bank mark-up is negatively associated with …
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