2010 Fiscal Year Final Research Report
Empirical Analysis on the determinants of bank lending to unlisted firms
| Project/Area Number |
19330069
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Kobe University |
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Principal Investigator |
KUTSUNA Kenji Kobe University, 大学院・経営学研究科, 教授 (00275273)
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| Project Period (FY) |
2007 – 2010
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| Keywords | 中小企業 / 銀行融資 / 金融危機 / 未公開企業 / 追い貸し |
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| Research Abstract |
This research project examines the determinants of bank lending to listed and unlisted firms by using 1993-2005 panel data. A phenomenon of increased bank lending to listed firms with unhealthy finances was observed (Unnatural selection). On the other hand, for unlisted firms, increased bank lending to firms with healthy finances was observed (Natural selection).
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