Relationship banking and debt choice: Evidence from Japan

Yasuhiro Arikawa; Hideaki Miyajima

doi:10.1111/j.1467-8683.2005.00435.x

Relationship banking and debt choice: Evidence from Japan

Yasuhiro Arikawa, Hideaki Miyajima^*

^*Corresponding author for this work

Research output: Contribution to journal › Review article › peer-review

17 Citations (Scopus)

Abstract

The purpose of this paper is to test hypotheses regarding the mix of bank borrowing and bonds that occur under relationship banking, thereby constructing a detailed data set on the debt structure of large Japanese firms from the late 1980s to the 1990s. We show that debt choice is affected by main bank relationships, in the sense that successful firms with strong bank ties are much more likely to issue public bonds than resort to bank borrowing.

Original language	English
Pages (from-to)	408-418
Number of pages	11
Journal	Corporate Governance: An International Review
Volume	13
Issue number	3
DOIs	https://doi.org/10.1111/j.1467-8683.2005.00435.x
Publication status	Published - 2005 May

Keywords

Debt choice
Financial deregulation
Relationship banking

ASJC Scopus subject areas

Business, Management and Accounting(all)
Strategy and Management
Management of Technology and Innovation

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Cite this

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AB - The purpose of this paper is to test hypotheses regarding the mix of bank borrowing and bonds that occur under relationship banking, thereby constructing a detailed data set on the debt structure of large Japanese firms from the late 1980s to the 1990s. We show that debt choice is affected by main bank relationships, in the sense that successful firms with strong bank ties are much more likely to issue public bonds than resort to bank borrowing.

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KW - Financial deregulation

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Relationship banking and debt choice: Evidence from Japan

Abstract

Keywords

ASJC Scopus subject areas

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