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Analysis on corporate finance of Japanese firms: Benefits and limitations of relationship-based finance

Research Project

Project/Area Number 21330076
Research Category

Grant-in-Aid for Scientific Research (B)

Allocation TypeSingle-year Grants
Section一般
Research Field Public finance/Monetary economics
Research InstitutionKobe University

Principal Investigator

UCHIDA Hirofumi  神戸大学, 経営学研究科, 教授 (60294295)

Co-Investigator(Kenkyū-buntansha) OGURA Yoshiaki  早稲田大学, 政治経済学部, 准教授 (70423043)
TSUTSUI Yoshiro  大阪大学, 経済学研究科, 教授 (50163845)
NEMOTO Tadanobu  中央大学, 商学部, 教授 (40327739)
YAMORI Nobuyoshi  古屋大学, 経済学研究科, 教授 (80220515)
WATANABE Wako  慶應義塾大学, 商学部, 准教授 (80379106)
Project Period (FY) 2009 – 2011
Project Status Completed (Fiscal Year 2011)
Budget Amount *help
¥16,900,000 (Direct Cost: ¥13,000,000、Indirect Cost: ¥3,900,000)
Fiscal Year 2011: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2010: ¥12,350,000 (Direct Cost: ¥9,500,000、Indirect Cost: ¥2,850,000)
Fiscal Year 2009: ¥2,990,000 (Direct Cost: ¥2,300,000、Indirect Cost: ¥690,000)
Keywords金融論 / 企業ファイナンス / リレーションショップ / 金融機関 / 内部組織 / リレーションシップ
Research Abstract

To clarify the current status of corporate finance with special focus on firms’ environmental changes and the role of financial institutions, we first implemented a unique corporate survey and obtained data. To prepare for full-fledged analysis, we summarized the descriptive statistics of the data and wrote a summary paper. We also wrote a summary paper on the results of interviews to financial institutions. These summary papers produced various new findings especially on the organizational structure of financial institutions and their lending. Using the data from the survey, we conducted research on the effect of auditing of financial statements by auditing companies on the terms of lending from financial institutions, and on the relationship between the internal organization of financial institutions and their information production. We also conducted many related researches not using the data from the survey, including those focusing on regional finance and cooperative financial institutions, and on the role of loan officers. We also financially supported the “regional finance conference” to which researchers all over Japan gather, and held a seminar on the related corporate finance issue.

Report

(4 results)
  • 2011 Annual Research Report   Final Research Report ( PDF )
  • 2010 Annual Research Report
  • 2009 Annual Research Report
  • Research Products

    (46 results)

All 2013 2012 2011 2010 2009 Other

All Journal Article (42 results) (of which Peer Reviewed: 19 results) Book (1 results) Remarks (3 results)

  • [Journal Article] Are Trade Creditors Relationship Lenders?2013

    • Author(s)
      Uchida, H., G. Udell, and W. Watanabe
    • Journal Title

      Japan and the World Economy

      Volume: 25-26 Pages: 24-38

    • Related Report
      2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] Regional economic development, strategic investors, and efficiency of Chinese city commercial banks2013

    • Author(s)
      Jianjun Sun, Kozo Harimaya and Nobuyoshi Yamori
    • Journal Title

      Journal of Banking and Finance

      Volume: 37 Pages: 1602-1611

    • Related Report
      2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] Lending Competition and Credit Availability for New Firms: Empirical Study with the Price Cost Margin in Regional Loan Markets2012

    • Author(s)
      Ogura, Y
    • Journal Title

      Journal of Banking & Finance

      Pages: 1822-1838

    • Related Report
      2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] 地域金融機関の審査体制・人事評価にみる中小企業金融の課題(前編)2012

    • Author(s)
      根本忠宣
    • Journal Title

      調査月報(日本政策金融公庫)

      Volume: 2012 Pages: 40-45

    • Related Report
      2011 Annual Research Report 2011 Final Research Report
  • [Journal Article] 地域金融機関の審査体制・人事評価にみる中小企業金融の課題(後編)2012

    • Author(s)
      根本忠宣
    • Journal Title

      調査月報(日本政策金融公庫)

      Volume: 2012 Pages: 40-45

    • Related Report
      2011 Annual Research Report 2011 Final Research Report
  • [Journal Article] 地域金融機関の意思決定構造とソフト情報の活用2012

    • Author(s)
      小倉義明・根本忠宣・渡部和孝
    • Journal Title

      融機関の意思決定構造とソフト情報の活用、フィナンシャルレビュー(財務総研)

      Pages: 31-53

    • Related Report
      2011 Final Research Report
  • [Journal Article] Lending competition and credit availability for new firms: Empirical study with the price cost margin in regional loan markets2012

    • Author(s)
      Yoshiaki Ogura
    • Journal Title

      Journal of Banking and Finance

      Pages: 1822-1838

    • Related Report
      2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] 嵐の前の静けさ 不思議な平穏に包まれる日本の金融業2012

    • Author(s)
      家森信善
    • Journal Title

      中央公論

      Volume: 2012 Pages: 104-109

    • NAID

      40019126663

    • Related Report
      2011 Final Research Report
  • [Journal Article] 地域社会と明日の信用組合2012

    • Author(s)
      家森信善
    • Journal Title

      しんくみ

      Volume: 2012 Pages: 6-11

    • Related Report
      2011 Final Research Report
  • [Journal Article] Loan officers and relationship lending to SMEs2012

    • Author(s)
      内田浩史、Gregory F. Udell、家森信善
    • Journal Title

      Journal of Financial Intermediation

      Volume: Volume 21, Issue 1 Pages: 97-122

    • Related Report
      2011 Annual Research Report 2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] 地域社会と明日の信用組合-量ではなく質の競争で活路を-2012

    • Author(s)
      家森信善
    • Journal Title

      しんくみ

      Volume: 2012年1月 Pages: 6-11

    • Related Report
      2011 Annual Research Report
  • [Journal Article] 嵐の前の静けさ不思議な平穏に包まれる日本の金融業2012

    • Author(s)
      家森信善
    • Journal Title

      中央公論

      Volume: 2012年2月 Pages: 104-109

    • NAID

      40019126663

    • Related Report
      2011 Annual Research Report
  • [Journal Article] Lending competition and credit availability for new firms : Empirical study with the price cost margin in regional loan markets2012

    • Author(s)
      Yoshiaki Ogura
    • Journal Title

      Journal of Banking and Finance

      Volume: (近刊)(掲載確定)

    • Related Report
      2011 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Report on a fact-finding survey of the credit-decision system and loan pricing in small business financing in Japan2011

    • Author(s)
      T. Nemoto, Y. Ogura, and W. Watanabe
    • Journal Title

      RIETI Discussion Paper

      Volume: 11-E-053

    • Related Report
      2011 Final Research Report
  • [Journal Article] The roles of outside directors in cooperative financial institutions: the case of Japan2011

    • Author(s)
      家森信善、播磨谷浩三、冨村圭
    • Journal Title

      Banks and Bank Systems

      Volume: Volume 6, Issue 4 Pages: 10-13

    • Related Report
      2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] 東海地域経済の発展戦略-金融機関と大学の連携による地域イノベーションの活性化-2011

    • Author(s)
      家森信善
    • Journal Title

      十六銀行 経済月報

      Volume: 2011 Pages: 1-5

    • NAID

      40018974097

    • Related Report
      2011 Final Research Report
  • [Journal Article] リレーションシップ型禁輸の実態(2)-日本の企業ファイナンスに関する実態調査の後半部分の概要-2011

    • Author(s)
      中岡孝剛、内田浩史、家森信善
    • Journal Title

      経済科学

      Volume: 59巻 2号 Pages: 1-27

    • Related Report
      2011 Final Research Report
  • [Journal Article] 東北地方の復興に向けた金融の取り組み-復興金融の主役として地域金融機関に期待-2011

    • Author(s)
      家森信善
    • Journal Title

      経済セミナー増刊:復興と希望の経済学

      Volume: 2011 Pages: 104-107

    • Related Report
      2011 Annual Research Report 2011 Final Research Report
  • [Journal Article] 信用金庫法制定 60 周年<6>地位確立の 60 年と新しい挑戦の始まり2011

    • Author(s)
      家森信善
    • Journal Title

      信用金庫

      Volume: 2011 Pages: 3-8

    • Related Report
      2011 Final Research Report
  • [Journal Article] 協同組織金融機関の現状と課題-「育てる」金融で将来への布石を-2011

    • Author(s)
      家森信善
    • Journal Title

      金融ジャーナル

      Volume: 2011 Pages: 8-11

    • Related Report
      2011 Annual Research Report 2011 Final Research Report
  • [Journal Article] リレーションシップ型金融の実態(1)日本の企業ファイナンスに関する実態調査の前半部分の概要2011

    • Author(s)
      中岡孝剛、内田浩史、家森信善
    • Journal Title

      経済科学

      Volume: 59巻 1号 Pages: 1-26

    • NAID

      40018894909

    • Related Report
      2011 Final Research Report
  • [Journal Article] Information Verifiability, Bank Organization, Bank Competition and Bank-Borrower Relationships2011

    • Author(s)
      Kano, M., H. Uchida, G.F. Udell, and W. Watanabe
    • Journal Title

      Journal of Banking and Finance

      Volume: 35(4) Pages: 935-954

    • Related Report
      2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] リレーションシップ型金融の実態(1)日本の企業ファイナンスに関する実態調査の前半部分の概要2011

    • Author(s)
      中岡孝剛・内田浩史・家森信善
    • Journal Title

      経済科学

      Volume: 59巻1号 Pages: 1-26

    • NAID

      40018894909

    • Related Report
      2011 Annual Research Report
  • [Journal Article] 信用金庫法制定60周年<6>地位確立の60年と新しい挑戦の始まり2011

    • Author(s)
      家森信善
    • Journal Title

      信用金庫

      Volume: 2011年8月 Pages: 3-8

    • Related Report
      2011 Annual Research Report
  • [Journal Article] リレーションシップ型金融の実態(2)-日本の企業ファイナンスに関する実態調査の後半部分の概要-2011

    • Author(s)
      中岡孝剛・内田浩史・家森信善
    • Journal Title

      経済科学

      Volume: 59巻2号 Pages: 1-27

    • NAID

      40019019185

    • Related Report
      2011 Annual Research Report
  • [Journal Article] 東海地域経済の発展戦略-金融機関と大学の連携による地域イノベーションの活性化-2011

    • Author(s)
      家森信善
    • Journal Title

      十六銀行経済月報

      Volume: 2011年9月 Pages: 1-5

    • NAID

      40018974097

    • Related Report
      2011 Annual Research Report
  • [Journal Article] The roles of outside directors in cooperative financial institutions : the case of Japan2011

    • Author(s)
      家森信善・播磨谷浩三・冨村圭
    • Journal Title

      Banks and Bank Systems

      Volume: Volume 6, Issue 4 Pages: 10-13

    • Related Report
      2011 Annual Research Report
    • Peer Reviewed
  • [Journal Article] Report on a fact-finding survey of the credit-decision system and loan pricing in small business financing in Japan2011

    • Author(s)
      T.Nemoto, Y.Ogura, W.Watanabe
    • Journal Title

      RIETI Discussion Paper

      Volume: 11-E-053(掲載確定)

    • Related Report
      2011 Annual Research Report
  • [Journal Article] Information Verifiability, Bank Organization, Bank Competition and Bank-Borrower Relationships.2011

    • Author(s)
      Kano, M., H.Uchida, G.F.Udell, W.Watanabe
    • Journal Title

      Journal of Banking and Finance

      Volume: 35(4) Pages: 935-954

    • Related Report
      2010 Annual Research Report
    • Peer Reviewed
  • [Journal Article] What kinds of credit associations favor introducing new financial technology2011

    • Author(s)
      Yamori, N., K.Tomimura, K.Harimaya
    • Journal Title

      Applied Economics Letters

      Volume: 18 Pages: 343-347

    • Related Report
      2010 Annual Research Report
    • Peer Reviewed
  • [Journal Article] 信用金庫の経営改善支援-支援姿勢と能力、およびビジネスマッチング活動について-2010

    • Author(s)
      家森信善
    • Journal Title

      全国信用金庫協会編『信用金庫双書・中小企業のライフサイクルと地域金融機関の役割』近代セールス社

      Pages: 137-161

    • Related Report
      2011 Final Research Report
  • [Journal Article] Lending Competition and Relationship Banking : Evidence from Japan.2010

    • Author(s)
      Ogura, Y, N.Yamori
    • Journal Title

      International Journal of Business

      Volume: 15(4) Pages: 377-393

    • Related Report
      2010 Annual Research Report
    • Peer Reviewed
  • [Journal Article] 信用金庫の経営改善支援―支援姿勢と能力、およびビジネスマッチング活動について―2010

    • Author(s)
      家森信善
    • Journal Title

      信用金庫双書・中小企業のライフサイクルと地域金融機関の役割(全国信用金庫協会編)(近代セールス社)

      Pages: 137-161

    • Related Report
      2009 Annual Research Report
  • [Journal Article] What Types of Small and Medium-sized Businesses Are Utilizing New Financial Products?2009

    • Author(s)
      Nobuyoshi Yamori
    • Journal Title

      iBusiness 1

      Pages: 106-112

    • Related Report
      2011 Final Research Report
  • [Journal Article] 地域金融研究の課題(日本金融学会会長講演)2009

    • Author(s)
      筒井義郎
    • Journal Title

      金融経済研究

      Volume: 28号 Pages: 1-22

    • Related Report
      2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] 日本における危険資産保有比率の決定要因2009

    • Author(s)
      木成勇介・筒井義郎
    • Journal Title

      金融経済研究

      Volume: 29号 Pages: 46-64

    • NAID

      40016898995

    • Related Report
      2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] 銀行部門と地域の経済発展:金融深化と収束仮説2009

    • Author(s)
      山根智沙子・筒井義郎
    • Journal Title

      金融 経済研究

      Volume: 28号 Pages: 68-90

    • NAID

      40016660867

    • Related Report
      2011 Final Research Report
    • Peer Reviewed
  • [Journal Article] 銀行部門と地域の経済発展:金融深化と収束仮説2009

    • Author(s)
      山根智沙子・筒井義郎
    • Journal Title

      金融 経済研究 28号

      Pages: 68-90

    • NAID

      40016660867

    • Related Report
      2009 Annual Research Report
    • Peer Reviewed
  • [Journal Article] 日本における危険資産保有比率の決定要因2009

    • Author(s)
      木成勇介・筒井義郎
    • Journal Title

      金融経済研究 29号

      Pages: 46-64

    • NAID

      40016898995

    • Related Report
      2009 Annual Research Report
    • Peer Reviewed
  • [Journal Article] 地域金融研究の課題(日本金融学会会長講演)2009

    • Author(s)
      筒井義郎
    • Journal Title

      金融経済研究 28号

      Pages: 1-22

    • Related Report
      2009 Annual Research Report
    • Peer Reviewed
  • [Journal Article] What Types of Small and Medium-sized Businesses Are Utilizing New Financial Products?2009

    • Author(s)
      家森信善
    • Journal Title

      iBusiness 1

      Pages: 106-112

    • Related Report
      2009 Annual Research Report
    • Peer Reviewed
  • [Journal Article] 地域金融機関の意思決定構造とソフト情報の活用

    • Author(s)
      小倉義明・根本忠宣・渡部和孝
    • Journal Title

      フィナンシャルレビュー(財務総研)

      Volume: (近刊)(掲載確定)

    • Related Report
      2011 Annual Research Report
  • [Book] 金融機能と銀行業の経済分析2011

    • Author(s)
      内田浩史
    • Total Pages
      341
    • Publisher
      日本経済新聞出版社
    • Related Report
      2010 Annual Research Report
  • [Remarks]

    • URL

      http://www.b.kobe-u.ac.jp/~uchida/public_kaken_html/kakenB_h21-24/kakenhiB_top.html

    • Related Report
      2011 Final Research Report
  • [Remarks]

    • URL

      http://www.b.kobe-u.ac.jp/~uchida/public_kaken_html/kakenhiB_top.html

    • Related Report
      2011 Annual Research Report
  • [Remarks]

    • URL

      http://www.b.kobe-u.ac.jp/~uchida/public_kaken_html/kakenhiB_top.html

    • Related Report
      2010 Annual Research Report

URL: 

Published: 2009-04-01   Modified: 2016-04-21  

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