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Social capital and the business models of financial cooperatives : evidence from Japanese Shinkin banks

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Chronopoulos_2020_BusinessModelSocialCapital_AAM.pdf (775.0Kb)
Date
27/01/2021
Author
Chronopoulos, Dimitris K.
Sobiech, Anna L.
Wilson, John O. S.
Keywords
Business models
Financial intermediation
Japanese banking
Social capital
Stakeholder-orientation
HG Finance
3rd-DAS
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Abstract
We investigate the link between social capital and business model choice of financial cooperatives (Shinkin banks) in Japan. We identify two forms of business model, which concentrate on the issuance of loans funded by deposits (traditional) and the investment and management of large investment portfolios (new). Traditional business models are more likely to emerge in geographic areas with higher levels of social capital. These findings are robust after controlling for bank‐ and prefecture‐level characteristics (such as unemployment, population and income) that may influence bank business model choice. We repeat our analysis for a sample of shareholder‐oriented (regional) banks, but fail to establish any relationship between social capital and this organisational form. Overall, our findings suggest that financial cooperatives in high‐social‐capital areas are more likely to adhere to a traditional model of financial intermediation focused on lending which promotes community and economic development.
Citation
Chronopoulos , D K , Sobiech , A L & Wilson , J O S 2021 , ' Social capital and the business models of financial cooperatives : evidence from Japanese Shinkin banks ' , Financial Accountability & Management , vol. Early View . https://doi.org/10.1111/faam.12282
Publication
Financial Accountability & Management
Status
Peer reviewed
DOI
https://doi.org/10.1111/faam.12282
ISSN
0267-4424
Type
Journal article
Rights
Copyright © 2021 John Wiley & Sons Ltd. This work has been made available online in accordance with publisher policies or with permission. Permission for further reuse of this content should be sought from the publisher or the rights holder. This is the author created accepted manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at https://doi.org/10.1111/faam.12282
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  • University of St Andrews Research
URI
http://hdl.handle.net/10023/26564

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