The "Big Bang" financial market reforms : impacts on the strategies of Japanese city banks

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The "Big Bang" financial market reforms : impacts on the strategies of Japanese city banks

 

Author: Takei, Yuichi
Title: The "Big Bang" financial market reforms : impacts on the strategies of Japanese city banks
Degree: D.B.A.
Year: 2000
Subject: Banks and banking, Japanese -- Japan
Hong Kong Polytechnic University -- Dissertations
Department: Dept. of Management
Pages: xiv, 367 p. : ill. ; 30 cm
Language: English
InnoPac Record: http://library.polyu.edu.hk/record=b1553093
URI: http://theses.lib.polyu.edu.hk/handle/200/2794
Abstract: This is a study of the strategies of Japanese banks under the so-called Japanese "Big Bang" which involves massive government-led measures designed to make Tokyo's financial markets equally attractive to world investors as those in London and New York. The Japanese banks, particularly the commercial banks known as "city" banks are facing severe competition as a result of measures for deregulation and market globalization. On the other hand, the significant changes in the banking industry are greatly benefiting foreign banks operating in Japan. The study is conducted by applying Richard Whitley's national business system framework to the Japanese banking industry under the "Big Bang" financial market reforms. His concept of a 'business system' as a form of economic organization is based on the social construction of firms and their market relations. A three and a half-year qualitative study was undertaken comprising a literature review, business meetings and private interviews with employees of the selected banks, officers of the regulators, industry associations, and consultants with expertise on the banking business. The research examines how institutional changes arising from the "Big Bang" impact on certain stabilized characteristics of Japanese city banks. At the same time, the deregulation has created an environment in which the foreign banks can undertake new business opportunities without modifying much their key structures and practices. The strategies of Japanese city banks are not yet clear. However, the introduction of the financial holding company structure in the Japanese banking industry will allow them more flexibility in developing the necessary firm characteristics and capabilities to compete in both domestic and world financial markets. This study makes a contribution to understanding the operationalization of the "Big Bang" reform measures and the complexities of how firms generate new forms of business organization in an economy undergoing significant institutional changes.

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