Work

Relationship Banking and Debt Choice: evidence from Japan

Year: 2005

Type: article

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.

Source: Corporate Governance An International Review

DOI: 10.1111/j.1467-8683.2005.00435.x

Authors: Yasuhiro Arikawa, Hideaki Miyajima

Institution: Waseda University

Language: English

Topic: Corporate Finance and Governance

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W1990638338

FWCI: 12.68

Cites: 17

Cited by: 32

Related to: 10