The behavior of large shareholders of banks: Evidence from Japan
This paper examines the behavior of large shareholders of Japanese banks. Using pooled time-series cross-sectional data, we find that large shareholders exert a monitoring presence when control potential (risk) is high and that large shareholders are able to improve bank performance (profits). Among all owner types, insurance companies appear to be the primary risk monitors and profit maximizers. Overall, these findings indicate that large shareholders of banks do matter. However, subperiod results indicate that our pooled results are not stable across different time periods. This reveals that different regulatory regimes provide varying environments for control potential to the large shareholder. ^
Economics, Finance|Business Administration, Banking
Kenneth Andrew Kim,
"The behavior of large shareholders of banks: Evidence from Japan"
Dissertations and Master's Theses (Campus Access).