Impact of policy changes on the efficiency and returns-to-scale of Japanese financial institutions: An evaluation |
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| Affiliation: | 1. Dept. of Chemical Engineering, Istanbul University-Cerrahpaşa, Istanbul, Turkey;2. Directorate of Food Control Laboratory, Republic of Turkey Ministry of Food Agriculture and Livestock Tekirdağ, Turkey;3. Dept. of Electrical–Electronics Engineering, Kadir Has University, Istanbul, Turkey |
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| Abstract: | This paper examines the impact of FSA's (Financial Services Agency) recent policy changes on the efficiency and returns-to-scale (RTS) of Japanese financial institutions including banks, securities companies and bank holding companies. Three kinds of efficiency are investigated namely, technical efficiency (TE), pure technical efficiency (PTE) and scale efficiency (SE) using the non-parametric methodology named data envelopment analysis (DEA). The DEA analysis shows a substantial improvement in the overall efficiency of Japanese banks, albeit a significant difference of efficiency scores between the major/city banks and the regional banks. Results are robust to alternative specifications of efficiency and scale changes. |
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| Keywords: | Policy changes DEA Efficiency Returns-to-scale Malmquist index |
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