IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this paper

Determinants of Japanese Companies' Financial Attitudes and Behavior - Analysis based on a survey of companies in the Kansai region (Japanese)

Listed author(s):
  • YAMORI Nobuyoshi

In June 2005 we conducted a questionnaire survey of 9,000 companies in the Kansai region (consisting of Osaka, Kyoto, and Hyogo prefectures), which is the second largest economic zone in Japan, and received replies from 2,041. In this research I analyze how the attributes of companies, such as listing status and capital position, influence their dividend policies, awareness of corporate governance, financing behaviour, and selection of banks. Unlike previous research, this research analyzes large amounts of information on unlisted companies and covers not only balance-sheet data but also non-balance-sheet information such as companies' keiretsu and subjective judgments. As a result, it was evident that the fact of being a consolidated subsidiary or a member of a keiretsu corporate group has a major influence on financial behavior. Therefore, when analyzing the financial behavior of SMEs, it is essential to take into consideration factors such as their keiretsu affiliation. Additionally, it became clear that capital adequacy ratios and corporate scale are also important determinants of the nature of companies' financial behavior.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: no

Paper provided by Research Institute of Economy, Trade and Industry (RIETI) in its series Discussion Papers (Japanese) with number 07016.

in new window

Length: 30 pages
Date of creation: Apr 2007
Handle: RePEc:eti:rdpsjp:07016
Contact details of provider: Postal:
11th floor, Annex, Ministry of Economy, Trade and Industry (METI) 1-3-1, Kasumigaseki Chiyoda-ku, Tokyo, 100-8901

Phone: +81-3-3501-1363
Fax: +81-3-3501-8577
Web page:

More information through EDIRC

No references listed on IDEAS
You can help add them by filling out this form.

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:eti:rdpsjp:07016. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (KUMAGAI, Akiko)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.