Herd Behavior by Japanese Banks after Financial Deregulation in the 1980s
Herd Behavior by Japanese Banks after Financial Deregulation in the 1980s
复制标题
20 世纪 80 年代金融放松管制后日本银行的羊群行为
DOI：
10.1111/j.1468-0335.2010.00870.x
复制
发表时间：
2011
期刊：
影响因子：
1.4
通讯作者：
and H. Uchida
中科院分区：
文献类型：
--
作者：
Nakagawa;R.;and H. Uchida
This paper investigates whether Japanese banks followed herd behaviour during the 1980s and 1990s. The results indicate the existence of herding during the sample period, while the inefficiency of herding is concentrated in the early to mid 1980s, the period immediately after financial deregulation began. Evidence for the inefficient herding is observed in the behaviour of banks that made loans to new borrowers, and in the behaviour of banks that followed the type of banks that were more informed on lending to new borrowers. On the other hand, inefficient herd behaviour is rarely observed in the 1990s.
