2016 Fiscal Year Research-status Report
| Project/Area Number |
26380398
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| Research Institution | International Christian University |
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Principal Investigator |
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| Project Period (FY) |
2014-04-01 – 2018-03-31
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| Keywords | bank / mergers and acquisitions / financial institutions |
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| Outline of Annual Research Achievements |
In FY2016（平成２８年度） I expanded on research from last year, which found that bank mergers result in statistically significant losses of shareholder value for client firms of the merged bank, particularly zombie firms. This year, I mostly focused on investigating the reasons for damage to shareholder value of the client firms, exploring the effect of bank mergers on the availability of credit to client firms of the merging banks. The research finds that a merger announcement by a firm’s main bank results in a contraction in credit supply from the merging bank. Firms are not able to compensate for the reduced credit supply from the main bank, so overall borrowing also declines.
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| Current Status of Research Progress |
Current Status of Research Progress
4: Progress in research has been delayed.
Reason
My administrative duties as Associate Vice President for Global Academic Exchange involve several business trips each year, which have put me behind schedule on my research projects. Although the research project itself progressed during FY2016, I was not able to travel to conferences, either within Japan or overseas, to get crucial feedback on my work.
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| Strategy for Future Research Activity |
In this fiscal year, 2017（平成２９年度）, I plan to revise my current study and present it at some academic conferences withing Japan and also overseas so that I can get feedback on my ideas and research methodology.
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| Causes of Carryover |
Since research was delayed due to administrative duties, I was not able to use the full amount of research funds available to me.
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| Expenditure Plan for Carryover Budget |
The main planned used of funds is travel to attend two international conferences in August 2017 (Liberal Arts Macro Workshop) and January 2018 (American Economics Association Meetings) where I will present my research findings and discuss with colleagues working in my field. While overseas, I hope to make arrangements to visit an academic institution so that I can interact with colleagues overseas over a longer period.
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Research Products
(2 results)
