Massey Documents by Type

Permanent URI for this communityhttps://mro.massey.ac.nz/handle/10179/294

Browse

Filters

2013 - 20202

Settings

Subject: search.filters.subject.English-speaking countries

Search Results

Now showing 1 - 2 of 2
  • Thumbnail Image
    Item
    Impact of the global financial crisis 2008 on bank efficiency : an experience of the Anglo-Saxon countries : a thesis presented in partial fulfillment of the requirements for the degree of Doctor of Philosophy in Banking Studies at Massey University, Manawatu Campus, New Zealand
    (Massey University, 2020) U-Din, Salah
    This thesis investigates the differences in the impact of the Global Financial Crisis 2008 (GFC) on the banking sectors of Australia, Canada, New Zealand, UK, and the United States from 2003 to 2015. The selected banking sectors are based on a common Anglo-Saxon banking system and belong to developed economies for which the GFC showed varying degrees of severity. The measures of cost, profit, alternative profit, and shareholder value efficiency are used to assess the impact of the GFC on bank efficiency of the five countries. The aim of this study is achieved with four major objectives: first, the theoretical analysis of the varying impact of the GFC on the banking sectors of the developed and integrated economies is confirmed with econometric analyses; second, the impact of different banking environment variables on bank efficiency is assessed to identify the reasons behind the variation in the impact of the GFC on the efficiency of the selected banking sectors; third, this study compares the results for the U.S. banking sector with other developed economies using a common frontier; fourth, it assesses the change in banking risk, structure, and shareholder value during the study period. A common frontier is drawn with a one-stage Stochastic Frontier Analysis (SFA) model among the selected group of relatively homogenous economies, and remaining economic variations are controlled with banking environment variables. A group of 29 large and systemically important banks is selected from all five countries for this study. The empirical results confirm the superiority of the Australian and Canadian banking sectors in cost efficiency compared to New Zealand, UK, and U.S. sectors from 2003 to 2015. Profit efficiency of the U.S. and British banks is most negatively impacted by the GFC, and the banking sectors of Australia, Canada, and New Zealand are among the least impacted. A significant impact of the GFC is observed during 2008 and 2009, and the selected banking sectors are not able to achieve pre-GFC efficiency levels in the post-GFC period. Cost-efficient banking is found to be more resilient, and the level of bank liquidity and equity play a vital role in the stability of the banks during the crisis period. The level of risk has declined over the study period, however, the negative influence of the risk on bank efficiency is reported. A higher ratio of lending assets provided earning stability for banks during the crisis period. Bank size, market concentration, and population density of chosen economies are not favorable for bank efficiency. Shareholder value was also impacted by the GFC during the same period and was found to be closely associated with the profit efficiencies of the banks during the study period. The trend and scores of the selected four efficiency models are consistent over the study period and found to be robust to various alternative tests. The findings of this thesis support the enhanced standards of the bank liquidity and equity, however, we recommend some regulatory initiatives to lower regulatory cost, bank size, and market concentration of selected banking sectors. A few limitations of the thesis are identified, and some guidelines for future research are also provided.
  • Thumbnail Image
    Item
    An examination of kaizen drift in Japanese genba : implications for business in the anglosphere : a thesis presented in partial fulfilment of the requirements for the degree of Doctor of Business and Administration at Massey University, Manawatu, New Zealand
    (Massey University, 2013) Macpherson, Wayne Gordon
    In attempting to decode the industrial competitive success of Japan, researchers in the Anglosphere have predominantly identified with the highly visible tools and methods of the quality management philosophy of kaizen. However, due to data collection methodologies and significant cross-cultural limitations kaizen appears to have been largely misinterpreted and misunderstood. This ‘gap’ has resulted in literature riddled with deterministic models of mechanical methodologies promoted to pursue business excellence. Further, there has been a plethora of attempts at transplanting Japan-centric tools and techniques, with little – if any – regard for the country’s individual and indigenous social characteristics. To deepen understanding of kaizen a phenomenological study was conducted in middle-to-large sized industrial companies in Japan to investigate Japanese workers’ perspectives of kaizen. Two parallel and complementary philosophies of the pursuit of business excellence were identified. The Japanese thread explored how Japanese workers acknowledge and exercise kaizen; and, the Anglosphere thread examined how workers in the Anglosphere attempt to adopt and practise kaizen. In the Japanese context, society is identified as being highly bounded with little opportunity for individual creativity. Many Japanese industrial organisations, being active kaizen environments, channel worker creativity and expressions of individuality into bounded environments, or kaizen audiences, providing a counter-point to social and cultural requirements. In addition to Japanese-style management, this has resulted in the production of tangible kaizen tools and methods, as easily identified by Anglosphere researchers and practitioners. The primary contribution to knowledge this research presents is the development of understanding of the utility of the kaizen phenomenon. Kaizen in industrial settings in Japan is found to be both culturally bounded and contextually dependent, and far beyond continuous improvement; differences in the perceptions of older and younger workers are seen to exist as kaizen drifts across generational boundaries; active programmes are maintained to ensure that kaizen remains embedded in both the individual and the organisation; and, the simplistic diffusion of kaizen to Anglosphere organisations is observed to be an unlikely guarantee to sustainable business excellence over the longer term, as it has in Japan. This research reports that the only likely viable means to sustainably diffuse kaizen in Anglosphere domains is for business leaders to return to square one and instil an implicit, comprehensive understanding and appreciation of kaizen; and, acquire and develop recipient-organisation-centric tools and methods. Such a new approach could provide practitioners in the Anglosphere the means to adopt and sustain kaizen thinking and practice, and a gateway to sustainable competitive advantage.