The book attempts to give a comprehensive description and testable theory of the complicated, but not unintelligible system of bank-firm relationships in the dynamic environment of a gradually deregulated financial market. It provides both theory and empirical evidence that close bank-firm relationships lead to a lower fraction of bank finance. Furthermore it is shown that since the mid 1980s it has been increasingly dependent on the nature of a relationship whether or not it is a benefit for the competitiveness of a firm. These findings make it necessary to redefine the image of Japan's financial system in general and bank-firm relationships in particular.
Series: Contributions to Economics
Number Of Pages: 150
Publisher: Springer-Verlag Berlin and Heidelberg Gmbh & Co. Kg
Country of Publication: US
Dimensions (cm): 23.39 x 15.6
Weight (kg): 0.25