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What kinds of credit associations favor introducing new financial technology?

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  • Yamori, Nobuyoshi
  • Tomimura, Kei
  • Harimaya, Kozo

Abstract

Since 2003, the Financial Services Agency has set relationship banking enhancement program as an important strategic task to improve the functions of regional financial institutions. In this enhancement program, the FSA recommended that regional financial institutions introduce new financial products such as collateralized loan obligations (CLOs) and collateralized bond obligations (CBOs). However, this was left up to each institution’s discretion rather than being mandatory. This resulted in a large difference in the introduction of new products. Therefore, this paper has analyzed what kinds of credit associations favorably increased the use of new financial products. As a result, it has been confirmed that the larger their lending shares and management scale, and the better their business conditions are, the more positively they work on the introduction of new products. Considering the fact that relationships between financial institutions and enterprises tend to be fixed in Japan, this means that medium and small enterprises will have restrictions on the financial products they can use depending on the situation of their main banks.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 19355.

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Date of creation: Dec 2009
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Handle: RePEc:pra:mprapa:19355

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Keywords: Small businesses; New financial products; Relationship banking; Credit associations; Japan.;

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  1. Mark M. Spiegel & Nobuyoshi Yamori, 2004. "Determinants of Voluntary Bank Disclosure: Evidence from Japanese Shinkin Banks," CESifo Working Paper Series 1135, CESifo Group Munich.
  2. Yamori, Nobuyoshi, 2009. "What Types of Small and Medium-sized Businesses Are Utilizing New Financial Products?," MPRA Paper 17494, University Library of Munich, Germany.
  3. Petersen, Mitchell A & Rajan, Raghuram G, 1995. "The Effect of Credit Market Competition on Lending Relationships," The Quarterly Journal of Economics, MIT Press, vol. 110(2), pages 407-43, May.
  4. Boot, Arnoud W. A., 2000. "Relationship Banking: What Do We Know?," Journal of Financial Intermediation, Elsevier, vol. 9(1), pages 7-25, January.
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