2011 Fiscal Year Final Research Report
A Behavioral Framework for Bank-Firm Relationships in SME Finance
| Project/Area Number |
21530295
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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 |
Public finance/Monetary economics
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| Research Institution | Shinshu University |
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Principal Investigator |
AOKI Tatsuhiko 信州大学, 経済学部, 非常勤講師 (50092854)
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| Co-Investigator(Kenkyū-buntansha) |
MUTSUURA Kouichi 信州大学, 経済学部, 教授 (00106147)
IKEDA Yoshikazu 北九州市立大学, 経済学部, 准教授 (10334880)
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| Research Collaborator |
KATASE Takuya 学校法人未来学舎国際コンピュータビジネス専門学校, 教務部長
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| Project Period (FY) |
2009 – 2011
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| Keywords | 企業銀行間関係 / メインバンク制 / ソフトな予算制約 / ホールドアップ / 状態依存型ガバナンス / メイン寄せ / 債権者間の調整 / カウベル効果 |
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| Research Abstract |
Listed and unlisted firms are each separated into two groups, sales top 15% and bottom 15%, or existing and gone bankrupt, each of which we analyzed. We were concerned about the disciplinary mechanism through mainbank? firm loan relationships, and examined the hypotheses of soft budgeting and coordination failure. We also got a result supporting hold-up hypothesis by verifying that mainbanks as concentrated debtholders imposed higher interest rates to financially distressed firms, either listed or unlisted.
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