A paper by Associate Professor Nobuyuki Kanazawa of the Faculty of Faculty of Economics has been published in the international academic journal "Journal of Banking and Finance."
Associate Professor Nobuyuki Kanazawa of Faculty of Economics at our university has published a paper entitled "The long-term effects of bank bailouts on corporate financing policies" in the international academic journal Journal of Banking and Finance. The paper sheds light on the long-term effects of bank bailouts (recapitalization) carried out in Japan in the 1990s on corporate financial strategies.
Regarding the publication, Associate Professor Kanazawa said, "We analyzed the long-term impact that bank bailout measures had on the fundraising strategies of companies that did business with the bailed out banks. We found that particularly struggling companies showed a significant change in their fundraising strategies, with their dependency on banks increasing over the long term, and their debt ratios rising and cash holdings decreasing. These findings suggest that bank recapitalization measures may unintentionally increase inefficiencies in resource allocation."
Please see the paper below.
Associate Professor
Nobuyuki Kanazawa
- Specialized Field
Macroeconomics, Time Series Analysis, Labor Economics
- Research theme
- Estimating the effects of fiscal and monetary policies
- Nonlinear Time Series Analysis