抄録
This paper estimates inside bank premiums arising from relationship banking and identifies the primary mechanism causing them among competing extant theories. Our empirical results using a dataset that is primarily based on a survey that we designed show that inside bank premiums are economically significant with an average of 68–71 basis points for short-term loans. The subsample regressions show that these premiums are more likely to result from the provision of implicit insurance or flexibility in renegotiation by the inside bank and that they are more significant for firms whose inside banks are larger, those with a lower capital to asset ratio, or those in more concentrated loan markets.
| 元の言語 | English |
|---|---|
| ページ（範囲） | 61-76 |
| ページ数 | 16 |
| ジャーナル | Journal of the Japanese and International Economies |
| 巻 | 42 |
| DOI | |
| 出版物ステータス | Published - 2016 12 1 |
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ASJC Scopus subject areas
- Finance
- Economics and Econometrics
- Political Science and International Relations
これを引用
Inside bank premiums as liquidity insurance. / Nemoto, Tadanobu; Ogura, Yoshiaki; Watanabe, Wako.
：: Journal of the Japanese and International Economies, 巻 42, 01.12.2016, p. 61-76.研究成果: Article
}
TY - JOUR
T1 - Inside bank premiums as liquidity insurance
AU - Nemoto, Tadanobu
AU - Ogura, Yoshiaki
AU - Watanabe, Wako
PY - 2016/12/1
Y1 - 2016/12/1
N2 - This paper estimates inside bank premiums arising from relationship banking and identifies the primary mechanism causing them among competing extant theories. Our empirical results using a dataset that is primarily based on a survey that we designed show that inside bank premiums are economically significant with an average of 68–71 basis points for short-term loans. The subsample regressions show that these premiums are more likely to result from the provision of implicit insurance or flexibility in renegotiation by the inside bank and that they are more significant for firms whose inside banks are larger, those with a lower capital to asset ratio, or those in more concentrated loan markets.
AB - This paper estimates inside bank premiums arising from relationship banking and identifies the primary mechanism causing them among competing extant theories. Our empirical results using a dataset that is primarily based on a survey that we designed show that inside bank premiums are economically significant with an average of 68–71 basis points for short-term loans. The subsample regressions show that these premiums are more likely to result from the provision of implicit insurance or flexibility in renegotiation by the inside bank and that they are more significant for firms whose inside banks are larger, those with a lower capital to asset ratio, or those in more concentrated loan markets.
KW - Information rent
KW - Liquidity insurance
KW - Relationship banking
UR - http://www.scopus.com/inward/record.url?scp=84995799474&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84995799474&partnerID=8YFLogxK
U2 - 10.1016/j.jjie.2016.10.004
DO - 10.1016/j.jjie.2016.10.004
M3 - Article
AN - SCOPUS:84995799474
VL - 42
SP - 61
EP - 76
JO - Journal of the Japanese and International Economies
JF - Journal of the Japanese and International Economies
SN - 0889-1583
ER -