WEKO3
アイテム
How Do Small Businesses Finance their Growth Opportunities? – The Case of Recovery from the Lost Decade in Japan –
https://doi.org/10.24545/00001019
https://doi.org/10.24545/00001019c3978f39-0a28-40bb-acb8-24222d34ddfa
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
DP09-19.pdf (343.8 kB)
|
|
| Item type | ディスカッションペーパー / Discussion Paper(1) | |||||||
|---|---|---|---|---|---|---|---|---|
| 公開日 | 2010-01-01 | |||||||
| タイトル | ||||||||
| タイトル | How Do Small Businesses Finance their Growth Opportunities? – The Case of Recovery from the Lost Decade in Japan – | |||||||
| 言語 | en | |||||||
| 言語 | ||||||||
| 言語 | eng | |||||||
| 資源タイプ | ||||||||
| 資源タイプ | technical report | |||||||
| ID登録 | ||||||||
| ID登録 (DOI) | 10.24545/00001019 | |||||||
| ID登録タイプ | JaLC | |||||||
| 著者 |
TSURUTA, Daisuke
× TSURUTA, Daisuke
|
|||||||
| 著者別名 | ||||||||
| 識別子Scheme | WEKO | |||||||
| 識別子 | 6309 | |||||||
| 姓名 | 鶴田, 大輔 | |||||||
| 言語 | ja | |||||||
| 著者所属 | ||||||||
| 値 | 政策研究大学院大学 / National Graduate Institute for Policy Studies; CRD Association | |||||||
| 抄録 | ||||||||
| 内容記述タイプ | Abstract | |||||||
| 内容記述 | We investigate the financial resources used by small businesses in Japan during the period of recovery from a severe recession. Unlike large listed firms, small businesses cannot easily issue commercial debt or equity. Therefore, small businesses largely depend on trade credit and bank loans. Many previous studies argue that bank loans are cheaper than trade credit; so many firms (particularly unconstrained firms) use bank loans, especially in financially developed economies. However, the Japanese evidence does not support this view. First, small businesses with higher credit demand increase trade credit more during the period of the recovery from a severe recession. Second, creditworthy firms (for example, firms with more collateral assets) also increase trade credit to finance their growth opportunities. Third, firms in unstable industries increase trade credit more. This suggests that suppliers are able to offer credit, unlike banks, as they have a relative advantage in day-by-day monitoring. | |||||||
| 発行年 | ||||||||
| 値 | 2010-01 | |||||||
| 書誌情報 |
en : GRIPS Discussion Papers Report No. DP09-19, 発行日 2010-01-01 |
|||||||
| 出版者 | ||||||||
| 出版者 | GRIPS Policy Research Center | |||||||
| 言語 | en | |||||||
| 関連サイト | ||||||||
| 関連タイプ | isIdenticalTo | |||||||
| 識別子タイプ | URI | |||||||
| 関連識別子 | https://ideas.repec.org/p/ngi/dpaper/09-19.html | |||||||
| 関連名称 | https://ideas.repec.org/p/ngi/dpaper/09-19.html | |||||||
| 著者情報 | ||||||||
| 内容記述タイプ | Other | |||||||
| 内容記述 | https://www.grips.ac.jp/list/jp/facultyinfo/tsuruta_daisuke/ | |||||||
| 著者版フラグ | ||||||||
| 出版タイプ | AM | |||||||
| 出版タイプResource | http://purl.org/coar/version/c_ab4af688f83e57aa | |||||||
