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2003 Fiscal Year Final Research Report Summary

The Empirical Analysis of Relationship Banking in Japan : Evidence from small-and medium-sized firms data in 47 prefectures

Research Project

Project/Area Number 13630116
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeSingle-year Grants
Section一般
Research Field Public finance/Monetary economics
Research InstitutionSetsunan university

Principal Investigator

KANO Masaji  Setsunan university, Faculty of Business Administration and Information, Associate Professor, 経営情報学部, 助教授 (50319787)

Project Period (FY) 2001 – 2003
Keywordsrelationship banking / main bank / small-and medium-sizes firms / regional bank / loan interest rate / hold-up problem / relationship lending / bank-firm relationship
Research Abstract

The purpose of this study is to analyze empirically bank-firm relationships in Japan, using data from small-and medium-sized firms. The Japanese main bank system has played an important role in Japanese economy. Therefore, the focus is on the stability of main bank relationships in each prefecture.
First, I examine the shifts in main banks that occurred during both the period of 1980-1990(H period) and the period of 1990-2000(L period). The percentage of small-and medium-sized firms that changed main banks during the H period was 14.5%, and during the L period was 15.5%.
Second, I investigate the factors of the shifts in main banks. According to the estimated results, the capital increase of small-and medium-sized firms is significantly positive, and the age of firms is significantly negative.
Third, I examine the effect of bank-firm relationships on loan interest rates, using data from small-and medium-sized firms in top three high interest rate prefectures, and in top three low interest rate prefectures. It is found that the loan interest rate increases with the duration of the relationship, suggesting the existence of a lock-in problem.

  • Research Products

    (2 results)

All Other

All Publications (2 results)

  • [Publications] 加納正二: "リレーションシップ・バンキングが貸出金利に与える影響"国際公共政策研究. 第8巻第2号. 33-46 (2004)

    • Description
      「研究成果報告書概要(和文)」より
  • [Publications] Masaji KANO: "The Effect of Bank-film Relationships on Loan Interest Rates"International Public Policy Studies. Vol.8, No.2. 34-46 (2004)

    • Description
      「研究成果報告書概要(欧文)」より

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Published: 2005-04-19  

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