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Bureaucrat-managers and corporate governance: expense-preference behaviors in Japanese financial institutions

Authors
Journal
Economics Letters
0165-1765
Publisher
Elsevier
Publication Date
Volume
61
Issue
3
Identifiers
DOI: 10.1016/s0165-1765(98)00179-7
Keywords
  • Expense-Preference
  • Japanese Financial Institutions
  • Bureaucrat-Managers
Disciplines
  • Political Science

Abstract

Abstract This paper investigates the expense-preference behaviors of Japanese financial institutions. We found that financial institutions employing retired government officials as board members held more employees than those that did not. Thus, Amakudari likely produces the cozy relationship between regulators and the regulated.

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