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Capital injection, restructuring targets and personnel management: The case of Japanese regional banks

Onji, Kazuki; Vera, David; Corbett, Jennifer


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 regional banks with a unique panel dataset of 82 banking groups that allows us to observe the employment levels of subsidiaries, in addition to those of parent banks, over fiscal 1994--2006. We estimate a...[Show more]

CollectionsANU Research Publications
Date published: 2009
Type: Conference paper
Source: Proceedings of the Australian Conference of Economists 2009


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