In China, regional disparities are important. We examine the difference in the sensitivity of investment to cash flow between firms in inland regions and those in coastal regions. By using the financial data of Chinese listed firms, we found that firms in inland regions rely more on their...

We investigate the impact of strategic investors on bank efficiency in the context of regional economic development. The data on Chinese city commercial banks operating regionally are well-suited for the study. Findings suggest that strategic investors significantly increase efficiency in...

This paper has analyzed the relationship between medium / small firms and financial institutions based on the results of questionnaires prepared for medium / small firms in the Tokai and Kansai regions. With the development of telecommunication technology and progress in securities market...

After the burst of the bubble economy, Japanese economy has been changed drastically. Traditionally, Japanese economy was characterized as a bank-centered economy, but the banking system did not function well in the 1990's. Responding to banking problems, the Japanese government initiated the...

Recently, credit ratings have been enhancing the influence on issuers as well as the national economy. This paper explains the historical development and several current features of the Japanese bond market, and discusses why credit ratings gained a significant role in the 1990s. We also present...