| Budget Amount *help |
¥3,250,000 (Direct Cost: ¥2,500,000、Indirect Cost: ¥750,000)
Fiscal Year 2010: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2009: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2008: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
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| Research Abstract |
The conventional wisdom that financial institutions, big banks in particular, have dominated the Japanese financial market and played there the key roles has long been an obvious basic assumption in research and policy debate over the Japanese financial phenomena. To investigate the validity of this assumption, focusing on the Financial Crisis period, I conducted a full-fledged empirical research with a huge set of firm-level financing data, and concluded that it has been invalid, at least since the 1960s. Upon this conclusion I started a new research on the functions and division of roles between trade credit and bank loans.
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