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Heterogeneous effect of the global financial crisis and the Great East Japan Earthquake on costs of Japanese banks

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  • Besstremyannaya, Galina

Abstract

The effect of financial and economic ctarises depends on bank technology, which includes risk attitude and business model. The paper focuses on Japanese banking and examines how technology distinctions determined impact of the 2007–2009 global financial crisis and the economic recession that followed the Great East Japan Earthquake of 2011. Assuming that different types of technology correspond to different cost quantiles, we use panel data quantile regressions to establish a link between efficiency, economies of scale/scope and the effects of the two crises. The analysis reveals technological heterogeneity and shows that the impact of profitability, non-traditional activities and non-performing loans in the two crises differs between high-cost and low-cost banks. Finally, we contrast the business models and risk-taking behavior of Japanese and European banks.

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  • Besstremyannaya, Galina, 2017. "Heterogeneous effect of the global financial crisis and the Great East Japan Earthquake on costs of Japanese banks," Journal of Empirical Finance, Elsevier, vol. 42(C), pages 66-89.
  • Handle: RePEc:eee:empfin:v:42:y:2017:i:c:p:66-89
    DOI: 10.1016/j.jempfin.2017.02.002
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    Cited by:

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    2. Besstremyannaya, Galina & Dasher, Richard & Golovan, Sergei, 2022. "Quantifying heterogeneity in the relationship between R&D intensity and growth at innovative Japanese firms: A quantile regression approach," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 67, pages 27-45.
    3. Abreu, Emmanuel Sousa de & Kimura, Herbert & Sobreiro, Vinicius Amorim, 2019. "What is going on with studies on banking efficiency?," Research in International Business and Finance, Elsevier, vol. 47(C), pages 195-219.
    4. Galina Besstremyannaya & Jaak Simm & Sergei Golovan, 2017. "Robust estimation of cost efficiency in non-parametric frontier models," Working Papers w0244, New Economic School (NES).
    5. Kourtzidis, Stavros & Matousek, Roman & Tzeremes, Nickolaos G., 2021. "Modelling a multi-period production process: Evidence from the Japanese regional banks," European Journal of Operational Research, Elsevier, vol. 294(1), pages 327-339.
    6. Besstremyannaya, Galina & Golovan, Sergei, 2021. "Measuring heterogeneity with fixed effect quantile regression: Long panels and short panels," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 64, pages 70-82.

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    Keywords

    Financial crisis; Banking; Economies of scale; Quantile regressions;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory

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