Corporate Strategy and Organizational Design for Financial Services Industry : Development of Database and International Comparisons.

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A longitudinal database of strategic and organizational changes for Japanese retail financial services companies was created during the period of 1945 and 2004. The database consists of publicly available accounts published in newspaper, magazines, and annual reports. Fine-grained text analysis was used to uncover the key characteristics of the change actions, such as type of change, location of change within the organization, outcomes, and espoused goals and rationales. In addition, measures of strategy types, strategic intent and organizational structure were captured.Based on the database, several empirical studies were performed. First, analysis using the U.S. database showed that expansion of regulation in sub-prime lending lead to the unintended result of reducing the flow of home equity credit to lower income and higher risk borrowers. Second, several factors which had impaired development of European consumer credit markets were found : strict regulation, risk-avoidance by financial institutions, and cultural and religious backgrounds. Among them the strongest impediment was the underdevelopment of credit bureaus. Third, two types of strategic changes by Japanese financial services companies were found in Asian countries : exploitation and exploration. We found exploitation more frequently than exploration in Hong Kong, South Korea and Taiwan. Forth, empirical analyses were performed on causes of personal bankruptcy in Japan. Life event such as reduced income was the strongest predictor for personal bankruptcy. Finally, two potential motives for Japanese financial services companies to expand abroad were found : They could seek resources, such as a capital, or they could pursue additional opportunities such as selling to their traditional customer segment in new markets or even to new segments in those new markets.