This is the first book to report the details of the current status of interfirm relationships in Japan. Based on a unique data set of firms, the authors describe the characteristics of interfirm transactions in a manner unprecedented in the literature. Special emphasis is placed on the nature of...

A theory predicts that loan pricing is less sensitive to public information, such as a credit score provided by a credit information vendor, if the lender obtains more accurate private information about the credit quality of borrowers. We find that loan pricing is less sensitive to public...