Do bank-firm relationships reduce bank debt? Evidence from Japan

The paper analyses how close relationships to banks influence a firm's choice of financing its debt through publicly marketed bonds or bank loans. It is shown that large Japanese firms use less bank debt, if banks own shares in the firm or bank employees are members of the firm's board. Th...

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Veröffentlicht in:	The European journal of finance 2005-02, Vol.11 (1), p.75-92
Hauptverfasser:	Miarka, Tobias, Tröge †, Michael
Format:	Artikel
Sprache:	eng
Schlagworte:	Agency theory Bank-firm relationships Banking industry Banks bond finance Bonds Data analysis Debt financing Decision making Economic control Economic relations Empirical research Enterprises Financial economics Financial management Financing methods Japan Loans Monitoring Professional relationships Studies Tokyo Stock Exchange
Online-Zugang:	Volltext
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