2011 Fiscal Year Final Research Report
Analysis on corporate finance of Japanese firms: Benefits and limitations of relationship-based finance
| Project/Area Number |
21330076
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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 |
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| Co-Investigator(Kenkyū-buntansha) |
OGURA Yoshiaki 早稲田大学, 政治経済学部, 准教授 (70423043)
TSUTSUI Yoshiro 大阪大学, 経済学研究科, 教授 (50163845)
NEMOTO Tadanobu 中央大学, 商学部, 教授 (40327739)
YAMORI Nobuyoshi 古屋大学, 経済学研究科, 教授 (80220515)
WATANABE Wako 慶應義塾大学, 商学部, 准教授 (80379106)
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| Project Period (FY) |
2009 – 2011
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| Keywords | 金融論 |
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| Research Abstract |
To clarify the current status of corporate finance with special focus on firms’ environmental changes and the role of financial institutions, we first implemented a unique corporate survey and obtained data. To prepare for full-fledged analysis, we summarized the descriptive statistics of the data and wrote a summary paper. We also wrote a summary paper on the results of interviews to financial institutions. These summary papers produced various new findings especially on the organizational structure of financial institutions and their lending. Using the data from the survey, we conducted research on the effect of auditing of financial statements by auditing companies on the terms of lending from financial institutions, and on the relationship between the internal organization of financial institutions and their information production. We also conducted many related researches not using the data from the survey, including those focusing on regional finance and cooperative financial institutions, and on the role of loan officers. We also financially supported the “regional finance conference” to which researchers all over Japan gather, and held a seminar on the related corporate finance issue.
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