| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w6172 |
| 来源ID | Working Paper 6172 |
| The Main Bank System and Corporate Investment: An Empirical Reassessment | |
| Fumio Hayashi | |
| 发表日期 | 1997-09-01 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | This paper examines whether the sensitivity of corporate investment to internal funds depends on the firm's access to a main bank, using the sample of Japanese manufacturing firms constructed by Hayashi and Inoue (1991). For either of two classifications of firms by their access to a main bank, there is no evidence that main bank ties mitigate the sensitivity of investment to the firm's liquidity. The large effect of main bank ties reported in Hoshi, Kashyap, and Scharfstein (1991) is most likely due to the relatively poor quality of their capital stock estimate. |
| 主题 | Macroeconomics ; Consumption and Investment ; Financial Economics ; Corporate Finance |
| URL | https://www.nber.org/papers/w6172 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/563680 |
| 推荐引用方式 GB/T 7714 | Fumio Hayashi. The Main Bank System and Corporate Investment: An Empirical Reassessment. 1997. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w6172.pdf（474KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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