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Cited by 942

The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.

On the Costs of a Bank‐Centered Financial System: Evidence from the Changing Main Bank Relations in Japan

Weinstein, David E., Yafeh, Yishay·1998·The Journal of Finance
DOI 10.1111/0022-1082.254893
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Abstract

We examine the effects of bank–firm relationships on firm performance in Japan. When access to capital markets is limited, close bank–firm ties increase the availability of capital to borrowing firms, but do not lead to higher profitability or growth. The cost of capital of firms with close bank ties is higher than that of their peers. This indicates that most of the benefits from these relationships are appropriated by the banks. Finally, the slow growth rates of bank clients suggest that banks discourage firms from investing in risky, profitable projects. However, liberalization of financial markets reduces the banks' market power.

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Research works printed but not linked: 38

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Cited by

Metadata

Authors
Weinstein, D. E., & Yafeh, Y.
Venue
The Journal of Finance
Publisher
Wiley
Published
1998-04
Volume
53
Issue
2
Pages
635-672
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/0022-1082.254893
OpenAlex
W2133897956
Cited by
942
References
3
FWCI
206.24
Type
journal article
Language
en
Open access
closed
Licence
onlinelibrary.wiley.com/termsAndConditions#vor (vor, 1721 d)

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