on loan and equity ownership to address the impact of the Japan-specific bank-firm relations and bank control on the …We explore the determinants of the number of long-term bank relations of listed Japanese firms using a unique data set … covering the period 1982-1999. Japanese listed firms have about seven long-term bank loan relations on average, but show a …

Japan (a hybrid auction-method regime and a book-building regime) and find that main bank relationships give small issuers … relationships lead to increased access to public equity markets, especially for smaller, lesserknown firms. When a firm in Japan … goes public, it can engage an investment bank that is related through a common main bank, or can select an alternative …

was characterized as a bank-centered economy, but the banking system did not function well in the 1990's. Responding to …

-firm lending data. We decompose loan movements in Japan for the period 1990 to 2010 into bank, firm, industry, and common shocks … developing a new methodology to separate firms' credit shocks from loan supply shocks, using a vast sample of matched bank … economy, which creates a role for granular shocks, as in Gabaix (2011). As a result, idiosyncratic bank shocks - movements in …

Japan (a hybrid auction-method regime and a book-building regime) and find that main bank relationships give small issuers … relationships lead to increased access to public equity markets, especially for smaller, lesserknown firms. When a firm in Japan … goes public, it can engage an investment bank that is related through a common main bank, or can select an alternative …

not manifested itself in other financial systems, and in particular, not in Germany or Japan. Evidence on the enormous …

bank profitability. We evaluate a broad field of research by introducing a general framework for a profit maximizing bank …

policy level, arguments rage about how Japan and the Japanese economy should plan for the future. In this book, leading … economists and economic historians of Japan examine a range of key issues concerning institutional and technological change in … Japan, rigorously using discipline-based tools of analysis, and drawing important conclusions as to how the process of …