Measurement of proprietary information production in lending market for non-listed companies.

• Project/Area Number: 21730268
• Research Category: Grant-in-Aid for Young Scientists (B)
• Allocation Type: Single-year Grants
• Research Field: Public finance/Monetary economics
• Research Institution: Ritsumeikan University
• Principal Investigator: OGURA Yoshiaki 立命館大学, 経営学部, 准教授 (70423043)
• Project Period (FY): 2009 – 2011
• Project Status: Completed (Fiscal Year 2011)
• Budget Amount: ¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000); Fiscal Year 2011: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000); Fiscal Year 2010: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000); Fiscal Year 2009: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
• Keywords: 金融論 / 中小企業金融 / リレーションシップバンキング

Research Abstract

We find that the contracted interest rate when the inside bank(main bank) is the sole lender is higher than those in the other case even if the borrower makes multiple banks bid competitively in the small business loan market by the statistical analyses with the microdata collected from a survey targeting at small businesses in 2008.This premium statistically and economically significant, for the sample median of the short-term interest rate is 1.9%. This premium is more significant for firms that expect their inside bank facilitate rescue loans in case of a temporal financial distress.

Research Products

• [Journal Article] Lending Competition and Credit Availability for New Firms : Empirical Study with the Price Cost Margin in Regional Loan Markets (2012)
  • Author(s): Ogura, Y
  • Journal Title: Journal of Banking & Finance Volume: 36 Pages: 1822-1838
  • Peer Reviewed
• [Journal Article] Lending competition and credit availability for new firms : Empirical study with the price cost margin in regional loan markets (2012)
  • Author(s): Yoshiaki Ogura
  • Journal Title: Journal of Banking and Finance Volume: 36 Issue: 6 Pages: 1822-1838
  • DOI: 10.1016/j.jbankfin.2012.02.006
  • 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 (2012)
  • 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: (印刷中)
• [Journal Article] An Estimation of the Inside Bank Premium, Research Institute of Economy (2011)
  • Author(s): Nemoto, T., Ogura, Y., and W. Watanabe
  • Journal Title: Trade and Industry DP Volume: 11E067
• [Journal Article] Report on a fact-finding survey of the credit-decision system and loan pricing in small business financing in Japan (2011)
  • Author(s): T.Nemoto, Y.Ogura, W.Watanabe
  • Journal Title: RIETI Discussion Paper Volume: 11-E-053
• [Journal Article] An Estimation of the Inside Bank Premium (2011)
  • Author(s): T.Nemoto, Y.Ogura, W.Watanabe
  • Journal Title: RIETI Discussion Paper Volume: 11-E-067
• [Journal Article] Interbank Competition and Information Acquisition : Evidence from the Interest Rate Difference (2010)
  • Author(s): Ogura, Y
  • Journal Title: Journal of Financial Intermediation Volume: 19 Pages: 279-304
  • Peer Reviewed
• [Journal Article] Lending Competition and Relationship Banking : Evidence from Japan (2010)
  • Author(s): Ogura, Y., and N. Yamori
  • Journal Title: International Journal of Business Volume: 15 Pages: 377-393
  • Peer Reviewed
• [Journal Article] Interbank Competition and Information Acquisition : Evidence from the Interest Rate Difference (2010)
  • Author(s): Yoshiaki Ogura
  • Journal Title: Journal of Financial Intermediation 19 Pages: 279-304
  • Peer Reviewed
• [Presentation] An Estimation of the Inside Bank Premium (2010)
  • Author(s): Yoshiaki Ogura
  • Organizer: Financial Management Association, 2010 Annual Meeting
  • Place of Presentation: ニューヨーク(米国)
  • Year and Date: 2010-10-23
• [Presentation] An Estimation of the Inside Bank Premium (2010)
  • Author(s): 小倉義明
  • Organizer: Financial Management Association Annual Meeting
  • Place of Presentation: ニューヨーク(米国)
  • Year and Date: 2010-10-21
• [Presentation] An Estimation of the Inside Bank Premium (2010)
  • Author(s): Yoshiaki Ogura
  • Organizer: Fifth Annual Financial Intermediation Research Society Finance Conference
  • Place of Presentation: フィレンツェ(イタリア)
  • Year and Date: 2010-06-08
• [Presentation] An Estimation of the Inside Bank Premium (2010)
  • Author(s): 小倉義明
  • Organizer: Fifth Annual Financial Intermediation Research Society Finance Conference
  • Place of Presentation: フィレンツェ(イタリア)(予定)
  • Year and Date: 2010-06-08
• [Presentation] An Estimation of the Inside Bank Premium (2010)
  • Author(s): 小倉義明
  • Organizer: Financial Intermediation Research Society, Annual Conference
  • Place of Presentation: フィレンツェ(イタリア)
  • Year and Date: 2010-06-07
• [Presentation] An Estimation of the Inside Bank Premium (2010)
  • Author(s): 小倉義明
  • Organizer: 日本ファイナンス学会第18回大会
  • Place of Presentation: 上智大学(東京都)
  • Year and Date: 2010-05-25
• [Presentation] An Estimation of the Inside Bank Premium (2010)
  • Author(s): 小倉義明
  • Organizer: 日本ファイナンス学会第回大会
  • Place of Presentation: 上智大学(東京都)(予定)
  • Year and Date: 2010-05-23