Firm Investment and Balance-Sheet Problems in Japan

Preprint OPEN
Toshitaka Sekine;
  • Subject: Investment;Japan;credit channel, dynamic panel data, bond, bank of japan, bond issuing, bank bond, deposit insurance

This paper investigates whether balance-sheet conditions of firms and their main banks matter for firm investment behavior using dynamic corporate panel data in Japan for the period 1985-95. It finds that smaller non-bond issuing firms were facing liquidity constraints;... View more
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