This paper examines the organizational characteristics of Japan’s cooperative financial institutions（Shinkin Banks and Shinkumi Banks）as they expand in size and become more homogeneous in their operations with banks, while also comparing them with banking organizations. In order to conduct this study, I decided to use the framework of law and economics, specifically, Henry Hansmann’s “The Ownership of Enterprise.” In addition, I developed a hypothesis based on legal and economic theory regarding the organizational characteristics of cooperative financial institutions, particularly with regard to their advantages, and then tested the hypothesis through empirical analysis. The results of the analysis show that although cooperative financial institutions have some disadvantages compared to banks, they have advantages due to the fact that the borrowers are owners. Specifically, owners are able to request favorable low-interest loan terms in the course of their own transactions with financial institutions. Thus, cooperative financial institutions are able to compete with banks precisely because the borrowers are owners and are able to request relaxed loan terms and conditions.

論説

一橋大学大学院法学研究科

2023-07

Japanese(jpn)

departmental bulletin paper

VoR

10.15057/80131

1347-0388

AA1161370X

一橋法学

22

2

471

525

22巻2号(2023.7)

https://hdl.handle.net/10086/80131