Hoshi, Takeo; Kashyap, Anil; Scharfstein, David - In: The Quarterly Journal of Economics 106 (1991) 1, pp. 33-60
This paper presents evidence suggesting that information and incentive problems in the capital market affect investment. The authors come to this conclusion by examining two sets of Japanese firms. The first set has close financial ties to large Japanese banks that serve as their primary source...