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低い「銀行依存度」とさらなる「銀行ばなれ」の進行
http://hdl.handle.net/2261/38076
http://hdl.handle.net/2261/380765d7e86c2-ae81-4a21-afde-f480d0b63a9e
| Item type | テクニカルレポート / Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2013-05-31 | |||||
| タイトル | ||||||
| タイトル | 低い「銀行依存度」とさらなる「銀行ばなれ」の進行 | |||||
| 言語 | ||||||
| 言語 | jpn | |||||
| 資源タイプ | ||||||
| 資源 | http://purl.org/coar/resource_type/c_18gh | |||||
| タイプ | technical report | |||||
| アクセス権 | ||||||
| アクセス権 | metadata only access | |||||
| アクセス権URI | http://purl.org/coar/access_right/c_14cb | |||||
| その他のタイトル | ||||||
| その他のタイトル | The Low ’Bank-Dependence Ratio’ and Recent Further Increase in the ’Independence of Firms from Banks’ | |||||
| 著者 |
三輪, 芳朗
× 三輪, 芳朗 |
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| 著者別名 | ||||||
| 識別子Scheme | WEKO | |||||
| 識別子 | 96697 | |||||
| 姓名 | Miwa, Yoshiro | |||||
| 著者所属 | ||||||
| 著者所属 | 東京大学大学院経済学研究科 | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | This is the first of the 4 discussion papers that, together with the Introduction and Summary paper (Miwa, 2010c), comprise the report of my recent investigation: "A Study of Financing Behavior of Japanese Firms with Firm-Level Data from the Corporate Enterprise Quarterly Statistics : 1994～2009".<改行> A basic premise to most studies of Japanese financial phenomena has been the dominant role played by banks. Hoshi and Kashyap [2001, p.310] wrote that banks "were the only game in town". Observers argue that this bank dominance continued even after the "financial liberalization" of the 1980s, through which the largest firms obtained access to international capital market.<改行> Using firm-level financial data from the Hojin Kigyo Tokei Kiho (Corporate Enterprise Quarterly Statistics) of the Ministry of Finance, I find that the ratio of zero-short-term-borrowing firms is highest, 50% in 1998 and two-thirds in 2008, among the smallest firms. I also find the average (short-term bank borrowing)/(total asset) ratio was lowest among these firms. Much the same phenomena characterize the patterns of long-term-borrowing ratio. Under the "zero-interest-rate, quantity easing" monetary policy, the low "bank dependence ratio" among firms fell further.<改行> Using annual financial data from Corporate Enterprise Annual Statistics since the 1960s, I also show that even in the 1960s the bank-dependence ratio was lower than commonly perceived. Since then, it has declined consistently.<改行> Those findings constitute a fundamental challenge to the conventional wisdom about the financial market and financial regulation in Japan | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | 本文フィルはリンク先を参照のこと | |||||
| 書誌情報 |
Discussion paper series. CIRJE-J 巻 CIRJE-J-223, 発行日 2010-10 |
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| 書誌レコードID | ||||||
| 収録物識別子タイプ | NCID | |||||
| 収録物識別子 | AA11451834 | |||||
| フォーマット | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | application/pdf | |||||
| 日本十進分類法 | ||||||
| 主題Scheme | NDC | |||||
| 主題 | 335 | |||||
| 出版者 | ||||||
| 出版者 | 日本経済国際共同センター | |||||
| 出版者別名 | ||||||
| Center for International Research on the Japanese Economy | ||||||
| 関係URI | ||||||
| 識別子タイプ | URI | |||||
| 関連識別子 | http://www.cirje.e.u-tokyo.ac.jp/research/dp/2010/2010cj223ab.html | |||||
