Researcher Database

（Last updated : 2025-11-08 14:32:42）　

HARIMAYA Kozo

Department / Course College of Economics Department of Economics

Title / Position Professor

Other Affiliations
1.	Research Organization of Social Science (BKC) Research Center for Finance
2.	Graduate School of Economics

Academic background
1.	2002/03 Degree Acquisition	│ Kobe University Ph.D. (Economics)
2.	1999/03 Degree Acquisition	│ Kwansei Gakuin University M.Ec.
3.	1988/04～1992/03	Faculty of Economics │ Kansai University │ Graduated

Subject of research
1.	Empirical analysis of financial institutions and financial markets
2.	Empirical analysis of the effects of industrial policy

Research summary
Empirical study on production and cost structure of financial institutions and the characteristics of market structure of the finance industry. Empirical study on the effects of deregulation and industry policies in restricted industries Empirical verification of management characteristics of financial institutions as an industrial organization is conducted from the estimation of production functions, cost functions, etc. Measurements on the economics and efficiency for size and scope have been made for regional financial institutions, securities companies, life insurance companies, etc., in the past. There is an interest for procedures and methods for empirical analysis for conformity with economic theories and the robustness of measurement results, etc. Especially for the indication of efficiency, interest exists for strengths and weaknesses for each alternative measurement methods and verification is being carried out for conformity with real life through regression analysis. Furthermore, regarding the market structure of the financing industry, whose competition environment is undergoing a rapid change in recent years, analysis is being made on the changes before and after deregulation and the relationship with the efficiency of the individual financial institutions, etc., in mergers and reorganizations. In addition, empirical verification has been made as a member of a joint study on the effects of deregulation on regulated industries represented by financial institutions and the background of implementation of industry policies. To date, studies on the effects of the formation of financial conglomerates in Europe, comparison of management efficiency in third sector railway companies, the mechanism related to the distribution of subsidy in farming support policies in Japan, etc., have been made. Studies are being conducted on issues concerning the effects of promotion in relational banking function enhancements in reginal financial institutions in Japan’s financial industry, the effects of broadening of operation foundations through the abolishment of branch opening restrictions, cross entry of life and non-life insurance companies, etc., in the insurance market, and others.

Present specialized field
Economic statistics, Economic Policy, Money/ Finance (Keyword：Financial Institutions, Scale and Scope Economies, Efficiency, Deregulation)

Papers
1.	2025/11	"Measuring the Efficiency of Japanese Securities Firms" │ Journal of Economic Structures │ forthcoming
2.	2025/10	“Measuring the Performance of Asset Management Firms in Japan” │ International Journal of Productivity and Performance Management │ forthcoming
3.	2025/09	"Exposure to real estate in bank portfolios: Evidence from Japan’s regional banks" │ Asia-Pacific Financial Markets │ forthcoming
4.	2024	Determinants of customer satisfaction in retail banking: Empirical evidence from Japanese bank customers │ Asian Finance & Banking Review │ 8 (1),pp.1-12
5.	2023/05	"The effects of quantitative easing policy on bank lending: Evidence from Japanese regional banks" │ Japan & The World Economy │ 67 (101193)
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