Theoretical Implications of the Efficient Structure and Quiet-Life Hypotheses on the Basis of the Generalized User-Revenue Model

Research Project

Project/Area Number	26380391
Research Category	Grant-in-Aid for Scientific Research (C)
Allocation Type	Multi-year Fund
Section	一般
Research Field	Money/ Finance
Research Institution	University of Toyama
Principal Investigator	Homma Tetsushi 富山大学, 経済学部, 教授 (60241775)
Project Period (FY)	2014-04-01 – 2018-03-31
Project Status	Completed (Fiscal Year 2017)
Budget Amount *help	¥4,290,000 (Direct Cost: ¥3,300,000、Indirect Cost: ¥990,000) Fiscal Year 2016: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000) Fiscal Year 2015: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000) Fiscal Year 2014: ¥2,730,000 (Direct Cost: ¥2,100,000、Indirect Cost: ¥630,000)
Keywords	効率性仮説 / 平穏仮説 / 一般化使用者収入モデル / 拡張された一般化ラーナー指数 / コスト・フロンティア / 動学的費用効率性 / 異時点間規則的連鎖 / フロンティア上（最も費用効率的な銀行）の競争度 / 動的費用効率性 / 市場集中度（ハーフィンダール指数） / 産業組織政策 / 独占禁止政策 / 地方銀行 / 静的費用効率性 / 資金運用純収益 / 成長拡大（収益規模重視）志向 / 営業経費最小化意欲 / 一般化使用者収入価格 / 競争度 / 効率性サイクル
Outline of Final Research Achievements	This study explores theoretical implications of the efficient structure and quiet-life hypotheses on the basis of the generalized user-revenue model constructed by Homma (2009, 2012). From the perspective of the extended generalized-Lerner index (EGLI) on the cost frontier, the following two points are noteworthy: 1) it is not always possible to justify anti-monopoly and anti-concentration policies using support for the quiet-life hypothesis; and 2) new industrial organization policies are required if support for the efficient structure hypothesis is undesirable. Furthermore, where intertemporal regular linkage of single-period EGLIs on the cost frontier exists, the appropriate industrial organization policies must be determined based on a long-term perspective.