The role of banks in reducing the costs of financial distress in Japan
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Japanese businesses with longstanding relationships with a main bank have been found to have lower costs of overcoming periods of financial distress.
“Similarly, Japanese businesses with longstanding relationships with a main bank have been found to have lower costs of overcoming periods of ®nancial distress (Hoshi et al., 1990).”
From The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle (1998) · cites this paper as Hoshi et al., 1990
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Cites
Corporate financing and investment decisions when firms have information that investors do not have
Myers, S. C., & Majluf, N. S. (1984) · Journal of Financial Economics · doi:10.1016/0304-405x(84)90023-0 · Cited by 18,957 · see citing works
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Research works printed but not linked: 18
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A Survey of Corporate Governance
Shleifer, A., & Vishny, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb04820.x · Cited by 16,243 · see citing works
N. Berger, A., & F. Udell, G. (1998) · Journal of Banking & Finance · doi:10.1016/s0378-4266(98)00038-7 · Cited by 3,690 · see citing works
Banks and corporate control in Japan
Morck, R., & Nakamura, M. (1999) · The Journal of Finance · doi:10.1111/0022-1082.00106 · Cited by 735 · see citing works
Bibi, R., & Sumaira (2022) · Journal of Environmental Science and Economics · doi:10.56556/jescae.v1i1.1 · Cited by 30 · see citing works
- Authors
- Hoshi, T., Kashyap, A., & Scharfstein, D.
- Affiliations
- University of California San Diego (US)
- Federal Reserve (US)
- National Bureau of Economic Research (US)
- Venue
- Journal of Financial Economics
- Publisher
- Elsevier BV
- Published
- 1990-09
- Volume
- 27
- Issue
- 1
- Pages
- 67-88
- ISSN
- 0304-405X (ISSN-L)
- OpenAlex
- W3121344980
- Cited by
- 1,213
- References
- 1
- Citations by year
- 2026: 11 · 2025: 32 · 2024: 23 · 2023: 23 · 2022: 22 · 2021: 20 · 2020: 33 · 2019: 25 · 2018: 33 · 2017: 41 · 2016: 22 · 2015: 30 · 2014: 26 · 2013: 36 · 2012: 45
- FWCI
- 43.34
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Financial Economics (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Accounting › Corporate Insolvency and Governance
- Social Sciences › Business, Management and Accounting › Accounting › Financial Distress and Bankruptcy Prediction
- Social Sciences › Economics, Econometrics and Finance › Finance › Banking stability, regulation, efficiency
- Keywords
- financial distress, bank-firm relationships, industrial groups, information asymmetry, free-rider problem, main banks, corporate investment, Japanese companies
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