2001 Fiscal Year Final Research Report Summary
Investigation Research for Design of Securitization Scheme for the Small Business
| Project/Area Number |
12630123
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Business administration
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| Research Institution | Gunma University |
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Principal Investigator |
TERAISHI Masahide Gunma University, Faculty of Social and Information Studies, Associate Professor, 社会情報学部, 助教授 (20217409)
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| Project Period (FY) |
2000 – 2001
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| Keywords | securitization / small business / new venture / SPC / CLO / CBO |
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| Research Abstract |
There is a growing anxiety about the future of Japanese Economy among the people. Movement which support new venture creation or small business start-ups has been activated by the government, universities and large firms, because new venture is expected to increase opportunities of employment and to lead Japanese industries in the future. Now the promotion of small business start-ups also become a pillar of economic reformation by the government. One of the main part of these policies is structure of venture finance.
The purpose of this research is to consider whether securitization scheme make a contribution to the development of venture finance. Securitization scheme may be divided into four types, that is, (1) securitization of assets by venture firms, (2) securitization of loan obligation to firms by banks, (3) securitization of bond obligation to firms by investors, (4) securitization of equities of venture firms by investors. Of these four types, (4) is the most applicable to venture finance.
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