2011 Fiscal Year Final Research Report
Measurement of proprietary information production in lending market for non-listed companies.
| Project/Area Number |
21730268
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| Research Category |
Grant-in-Aid for Young Scientists (B)
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| Allocation Type | Single-year Grants |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Ritsumeikan University |
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Principal Investigator |
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| Project Period (FY) |
2009 – 2011
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| Keywords | 金融論 / 中小企業金融 / リレーションシップバンキング |
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| Research Abstract |
We find that the contracted interest rate when the inside bank(main bank) is the sole lender is higher than those in the other case even if the borrower makes multiple banks bid competitively in the small business loan market by the statistical analyses with the microdata collected from a survey targeting at small businesses in 2008.This premium statistically and economically significant, for the sample median of the short-term interest rate is 1.9%. This premium is more significant for firms that expect their inside bank facilitate rescue loans in case of a temporal financial distress.
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