| Budget Amount *help |
¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2017: ¥520,000 (Direct Cost: ¥400,000、Indirect Cost: ¥120,000)
Fiscal Year 2016: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
Fiscal Year 2015: ¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000)
|
|---|
| Outline of Final Research Achievements |
This research deals with financial covenants in Japanese debt contracts. As a result, it reveals that when borrowers violate the covenants, lenders do not always review the contract, but place a moratorium in Japan. However, it also confirms that substantial penalties exist in the sense that implicitly restricting subsequent borrowers' actions. From this fact, this research concludes that in the technical violation direct restriction is not provided on a contract basis, but it provides creditors with effective opportunities to restrict the activities of borrowers.
|
