Bank Size and Lending Relationships in Japan
Bank Size and Lending Relationships in Japan
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DOI：
10.2139/ssrn.948089
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发表时间：
2006-11
期刊：
影响因子：
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通讯作者：
H. Uchida;Gregory F. Udell;W. Watanabe
中科院分区：
文献类型：
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作者：
H. Uchida;Gregory F. Udell;W. Watanabe
目前的理论和实证研究表明，小银行在处理软信息和提供关系贷款方面具有比较优势。对这一观点最全面的分析发现，使用美国的数据，较小的中小企业从较小的银行借款，较小的银行与借款人的关系更密切（Berger，米勒，Petersen，Rajan，and Stein 2005）（BMPRS）。我们采用基本相同的方法，作为BMPRS对一个独特的日本数据集，并获得的结果是非常有趣的国际比较的角度来看。我们发现，像BMPRS一样，大公司倾向于从大银行借款。然而，与BMPRS不同的是，我们没有发现这是因为大公司更透明。这些结果表明，大型银行在扩大基于交易的贷款方面不一定具有比较优势。我们还发现，与BMPRS一样，较小的银行与借款人关系密切。然而，我们发现，美国和日本的银行关系在有些不同的方面都很强。我们的论文澄清了美国和日本之间的这些和其他有趣的相似之处和差异。
Current theoretical and empirical research suggests that small banks have a comparative advantage in processing soft information and delivering relationship lending. The most comprehensive analysis of this view found using U.S. data that smaller SMEs borrow from smaller banks and smaller banks have stronger relationships with their borrowers (Berger, Miller, Petersen, Rajan, and Stein 2005) (BMPRS). We employ essentially the same methodology as BMPRS on a unique Japanese data set and obtained findings that are quite interesting from an international comparison point of view. We found like BMPRS that larger firms tend to borrow from larger banks. However, unlike BMPRS we did not find that this was because larger firms are more transparent. Together these results imply that large banks do not necessarily have a comparative advantage in extending transactions-based lending. We also found like BMPRS that smaller banks have strong relationships with their borrowers. However, we find that banking relationships in the U.S. and Japan are strong in somewhat different dimensions. Our paper clarifies these and other interesting similarities and differences between the U.S. and Japan.