메뉴 건너뛰기




Volumn 31, Issue 2, 2007, Pages 335-360

Banking relationships and access to equity capital markets: Evidence from Japan's main bank system

Author keywords

Banking relationships; IPOs; Japan; Underwriting

Indexed keywords


EID: 33846580540     PISSN: 03784266     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jbankfin.2006.04.007     Document Type: Article
Times cited : (26)

References (36)
  • 1
    • 38149143257 scopus 로고
    • The underwriting experiences of commercial bank affiliates prior to the Glass-Steagall act: A re-examination of evidence for passage of the act
    • Ang J.S., and Richardson T. The underwriting experiences of commercial bank affiliates prior to the Glass-Steagall act: A re-examination of evidence for passage of the act. Journal of Banking and Finance 18 (1994) 351-395
    • (1994) Journal of Banking and Finance , vol.18 , pp. 351-395
    • Ang, J.S.1    Richardson, T.2
  • 3
    • 0038127300 scopus 로고
    • Relationship lending and lines of credit in small firm finance
    • Berger A., and Udell G.F. Relationship lending and lines of credit in small firm finance. Journal of Business 68 (1995) 351-370
    • (1995) Journal of Business , vol.68 , pp. 351-370
    • Berger, A.1    Udell, G.F.2
  • 5
  • 6
    • 84977354160 scopus 로고
    • Information production, market signaling, and the theory of intermediation
    • Campbell T., and Kracaw W. Information production, market signaling, and the theory of intermediation. The Journal of Finance 35 (1980) 863-882
    • (1980) The Journal of Finance , vol.35 , pp. 863-882
    • Campbell, T.1    Kracaw, W.2
  • 7
    • 33846571921 scopus 로고    scopus 로고
    • Chaplinsky, Susan, Gayle, Erwin, 2005. Great Expectations: Banks as Equity Underwriters. Working paper, University of Virginia.
  • 8
    • 47749120440 scopus 로고
    • Financial intermediation and delegated monitoring
    • Diamond D. Financial intermediation and delegated monitoring. Review of Economic Studies 51 (1984) 393-414
    • (1984) Review of Economic Studies , vol.51 , pp. 393-414
    • Diamond, D.1
  • 9
    • 84935413182 scopus 로고
    • Monitoring and reputation: The choice between bank loans and directly placed debt
    • Diamond D. Monitoring and reputation: The choice between bank loans and directly placed debt. Journal of Political Economy 99 (1991) 688-721
    • (1991) Journal of Political Economy , vol.99 , pp. 688-721
    • Diamond, D.1
  • 10
    • 19944398575 scopus 로고    scopus 로고
    • On the benefits of concurrent lending and underwriting
    • Drucker S., and Puri M. On the benefits of concurrent lending and underwriting. The Journal of Finance 60 (2005) 2763-2799
    • (2005) The Journal of Finance , vol.60 , pp. 2763-2799
    • Drucker, S.1    Puri, M.2
  • 11
    • 25844490154 scopus 로고    scopus 로고
    • Wanna dance? How firms and underwriters choose each other
    • Fernando C.S., Gatchev V.A., and Spindt P.A. Wanna dance? How firms and underwriters choose each other. The Journal of Finance 60 (2005) 2437-2469
    • (2005) The Journal of Finance , vol.60 , pp. 2437-2469
    • Fernando, C.S.1    Gatchev, V.A.2    Spindt, P.A.3
  • 12
  • 14
    • 0000975175 scopus 로고    scopus 로고
    • Institutional affiliation and the role of venture capital: Evidence from initial public offerings in Japan
    • Hamao Y., Packer F., and Ritter J. Institutional affiliation and the role of venture capital: Evidence from initial public offerings in Japan. Pacific-Basin Finance Journal 8 (2000) 529-558
    • (2000) Pacific-Basin Finance Journal , vol.8 , pp. 529-558
    • Hamao, Y.1    Packer, F.2    Ritter, J.3
  • 16
    • 0002308919 scopus 로고
    • Corporate structure, liquidity, and investment: Evidence for Japanese industrial groups
    • Hoshi T., Kashyap A., and Scharfstein D. Corporate structure, liquidity, and investment: Evidence for Japanese industrial groups. Quarterly Journal of Economics 106 (1991) 33-60
    • (1991) Quarterly Journal of Economics , vol.106 , pp. 33-60
    • Hoshi, T.1    Kashyap, A.2    Scharfstein, D.3
  • 17
    • 0001131377 scopus 로고
    • Some evidence on the uniqueness of bank loans
    • James C. Some evidence on the uniqueness of bank loans. Journal of Financial Economics 19 (1987) 217-235
    • (1987) Journal of Financial Economics , vol.19 , pp. 217-235
    • James, C.1
  • 18
    • 38249017555 scopus 로고
    • Borrowing relationships, intermediation and the cost of issuing public securities
    • James C., and Weir P. Borrowing relationships, intermediation and the cost of issuing public securities. Journal of Financial Economics 28 (1990) 149-171
    • (1990) Journal of Financial Economics , vol.28 , pp. 149-171
    • James, C.1    Weir, P.2
  • 19
    • 0000119595 scopus 로고
    • Is the Glass-Steagall act justified? A study of the US experience with universal banking before 1933
    • Kroszner R.S., and Rajan R.G. Is the Glass-Steagall act justified? A study of the US experience with universal banking before 1933. American Economic Review 84 (1994) 810-832
    • (1994) American Economic Review , vol.84 , pp. 810-832
    • Kroszner, R.S.1    Rajan, R.G.2
  • 20
    • 0031206133 scopus 로고    scopus 로고
    • Organization structure and credibility: Evidence from commercial bank securities activities before the Glass-Steagall act
    • Kroszner R.S., and Rajan R.G. Organization structure and credibility: Evidence from commercial bank securities activities before the Glass-Steagall act. Journal of Monetary Economics 39 (1997) 475-551
    • (1997) Journal of Monetary Economics , vol.39 , pp. 475-551
    • Kroszner, R.S.1    Rajan, R.G.2
  • 21
    • 7044247707 scopus 로고    scopus 로고
    • Why does book building drive out auction methods of IPO issuance? Evidence from Japan
    • Kutsuna K., and Smith R. Why does book building drive out auction methods of IPO issuance? Evidence from Japan. Review of Financial Studies 17 (2004) 1129-1166
    • (2004) Review of Financial Studies , vol.17 , pp. 1129-1166
    • Kutsuna, K.1    Smith, R.2
  • 22
    • 33846574748 scopus 로고    scopus 로고
    • Kuroki, Fumiaki, 2001. The Present Status of Unwinding of Cross-shareholding - the Fiscal 2000 Survey of Cross-Shareholding, Unpublished working paper. NLI Research Institute, No. 157.
  • 23
    • 0000140435 scopus 로고
    • Information asymmetries, financial structure, and financial intermediation
    • Leland H.E., and Pyle D.H. Information asymmetries, financial structure, and financial intermediation. The Journal of Finance 32 (1977) 371-387
    • (1977) The Journal of Finance , vol.32 , pp. 371-387
    • Leland, H.E.1    Pyle, D.H.2
  • 24
    • 29344444221 scopus 로고    scopus 로고
    • Competing for Securities Underwriting Mandates: Banking Relationships and Analyst Recommendations
    • Ljungqvist A., Marston F., and Wilhelm W.J. Competing for Securities Underwriting Mandates: Banking Relationships and Analyst Recommendations. The Journal of Finance 61 (2006) 301-340
    • (2006) The Journal of Finance , vol.61 , pp. 301-340
    • Ljungqvist, A.1    Marston, F.2    Wilhelm, W.J.3
  • 28
    • 84993914974 scopus 로고
    • The benefits of lending relationships: Evidence from small business data
    • Petersen M.A., and Rajan R.G. The benefits of lending relationships: Evidence from small business data. The Journal of Finance 49 (1994) 3-37
    • (1994) The Journal of Finance , vol.49 , pp. 3-37
    • Petersen, M.A.1    Rajan, R.G.2
  • 29
    • 0000733164 scopus 로고
    • The long term default performance of bank underwritten security issues
    • Puri M. The long term default performance of bank underwritten security issues. Journal of Banking and Finance 18 (1994) 397-418
    • (1994) Journal of Banking and Finance , vol.18 , pp. 397-418
    • Puri, M.1
  • 30
    • 0030101180 scopus 로고    scopus 로고
    • Commercial banks in investment banking: Conflict of interest or certification role?
    • Puri M. Commercial banks in investment banking: Conflict of interest or certification role?. Journal of Financial Economics 40 (1996) 373-402
    • (1996) Journal of Financial Economics , vol.40 , pp. 373-402
    • Puri, M.1
  • 31
    • 0001609305 scopus 로고    scopus 로고
    • Commercial banks as underwriters: Implications for the going public process
    • Puri M. Commercial banks as underwriters: Implications for the going public process. Journal of Financial Economics 54 (1999) 133-163
    • (1999) Journal of Financial Economics , vol.54 , pp. 133-163
    • Puri, M.1
  • 32
    • 84977702514 scopus 로고
    • Insiders and outsiders: The choice between informed and arm's length debt
    • Rajan R.G. Insiders and outsiders: The choice between informed and arm's length debt. The Journal of Finance 47 (1992) 169-200
    • (1992) The Journal of Finance , vol.47 , pp. 169-200
    • Rajan, R.G.1
  • 33
    • 27944474728 scopus 로고    scopus 로고
    • Global trends in IPO methods: Book building vs. auctions with endogenous entry
    • Sherman A. Global trends in IPO methods: Book building vs. auctions with endogenous entry. Journal of Financial Economics 78 (2005) 615-649
    • (2005) Journal of Financial Economics , vol.78 , pp. 615-649
    • Sherman, A.1
  • 34
    • 0000342340 scopus 로고
    • Credit rationing in markets with imperfect information
    • Stiglitz J., and Weiss A. Credit rationing in markets with imperfect information. American Economic Review 71 (1981) 393-410
    • (1981) American Economic Review , vol.71 , pp. 393-410
    • Stiglitz, J.1    Weiss, A.2
  • 36
    • 19944392883 scopus 로고    scopus 로고
    • Do bank relationships affect the firm's underwriter choice in the corporate-bond underwriting market?
    • Yasuda A. Do bank relationships affect the firm's underwriter choice in the corporate-bond underwriting market?. The Journal of Finance 60 (2005) 1259-1292
    • (2005) The Journal of Finance , vol.60 , pp. 1259-1292
    • Yasuda, A.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.