The Benefits of Concurrent Bank Lending and Investing via Bank-affiliated Venture Capital

この論文にアクセスする

この論文をさがす

著者

抄録

Using Japanese IPOs, this paper empirically examines the roles that bank-affiliated venture capital firms play in mitigating information asymmetries that are detrimental in small business lending. We find that concurrent bank lending and investing via venture capital subsidiaries benefits firms by increasing credit availability, particularly by increasing the availability of long-term loans, but not by lowering interest rates. We also find that banks that jointly deliver lending and investment via VC subsidiaries build close ties with firms. These results suggest that strong bank-firm relationships, which benefit firms by availability of credit, can be built through scope of relationships.

収録刊行物

  • Hitotsubashi journal of commerce and management

    Hitotsubashi journal of commerce and management 41(1), 19-36, 2007-10

    一橋大学

各種コード

  • NII論文ID(NAID)
    110007629074
  • NII書誌ID(NCID)
    AA00207536
  • 本文言語コード
    ENG
  • 資料種別
    Departmental Bulletin Paper
  • ISSN
    00182796
  • データ提供元
    NII-ELS  IR 
ページトップへ