Empirical study on bank-led rescue and shock therapy during the lost decade in Japan
| Project/Area Number |
21730259
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Single-year Grants |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Chuo University (2010)
Chiba University of Commerce (2009) |
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Principal Investigator |
鯉渕 賢 Chuo University, 商学部, 准教授 (60361672)
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| Project Period (FY) |
2009 – 2010
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| Project Status |
Completed (Fiscal Year 2010)
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| Budget Amount *help |
¥2,600,000 (Direct Cost: ¥2,000,000、Indirect Cost: ¥600,000)
Fiscal Year 2010: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2009: ¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
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| Keywords | 債権放棄 / 法的整理 / 銀行企業間関係 / 失われた10年 / インボイス通貨 / 為替リスク管理 / 日本企業 |
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| Research Abstract |
In this study, I empirically examine the main banks' motive for the choice of debt forgiveness and legal protection in order to restructure their distressed clients by using data on large listed companies suffered financial distress from 1998 to 2004. The results show that closeness of long-term relationship is one of main factors to determine the bank's willingness to rescue its distressed clients while the profitability of distressed client firm is also important. Moreover, other factors including bank's stance against insolvent clients and introduction of new scheme of corporate restructuring like the Industrial Revitalization of Japan have statistically significant impacts on the choice of debt forgiveness and bankruptcy for large distressed clients.
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Report
(3 results)
Research Products
(7 results)
