Okazaki, Tetsuji; Sawada, Michiru - Center for Advanced Research in Finance, Faculty of … - 2006
This paper investigates the impact of bank consolidations promoted by government policy, using data from pre-war Japan … when the Ministry of Finance promoted bank consolidations by dint of the Bank Law of 1927. It is found that policy … hand, it had a negative effect on profitability, particularly when there was no dominant bank among the participants or …