In this paper we examine how financial constraints, especially fluctuations in the supply of credit, affect the capital structure of 1537 publicly listed Japanese firms from 1980 to 2007, in a data set with 33,000 observations. It is one of the first studies to do so and is inspired by the recent studies of Leary (2009) and Faulkender and Petersen (2006). Japan was selected due to the extreme credit supply fluctuations observed during the last 30 years. It thus offers an ideal natural experiment to test the impact of credit supply on corporate capital structure. In particular, in our panel data study we investigated the impact of the asset bubble in the 1980s and the credit crunch of the late 1990s on corporate capital structure decisions. ...
The role of firms' financial heterogeneity in determining the credit channel of monetary policy attr...
This paper studies the influence of credit fluctuations on capital structures from the credit supply...
This study is an attempt to determine the factors that influence a firm’s choice of capital structur...
This study examines how fluctuations in the supply of credit and financial constraints affect capita...
This study investigates the linked relationship between credit ratings and firms’ decisions regardin...
We investigate firm-level determinants of capital structure using a large sample of 4,284 Japanese f...
This paper investigates the causal relationship between firms ' bank dependence and financial c...
This study examines the factors that affect the capital structure decisions of private firms in norm...
This paper explores the relevance of capital market supply frictions for corporate capital structure...
This dissertation uses both micro-level and macro-level empirical analysis to examine the role of fi...
We investigate the effects of bank distress on the productivity of borrowing firms by using data on ...
From early spring to late summer in 2010 I investigated the financing behavior of Japanese firms wit...
This study looked for evidence of a "credit channel", amplifying monetary impulses transmitted to th...
This thesis examines the role played by credit ratings in explaining corporate capital structure cho...
Our study examines the impact of shifts in global financial conditions on leverage of Japanese firms...
The role of firms' financial heterogeneity in determining the credit channel of monetary policy attr...
This paper studies the influence of credit fluctuations on capital structures from the credit supply...
This study is an attempt to determine the factors that influence a firm’s choice of capital structur...
This study examines how fluctuations in the supply of credit and financial constraints affect capita...
This study investigates the linked relationship between credit ratings and firms’ decisions regardin...
We investigate firm-level determinants of capital structure using a large sample of 4,284 Japanese f...
This paper investigates the causal relationship between firms ' bank dependence and financial c...
This study examines the factors that affect the capital structure decisions of private firms in norm...
This paper explores the relevance of capital market supply frictions for corporate capital structure...
This dissertation uses both micro-level and macro-level empirical analysis to examine the role of fi...
We investigate the effects of bank distress on the productivity of borrowing firms by using data on ...
From early spring to late summer in 2010 I investigated the financing behavior of Japanese firms wit...
This study looked for evidence of a "credit channel", amplifying monetary impulses transmitted to th...
This thesis examines the role played by credit ratings in explaining corporate capital structure cho...
Our study examines the impact of shifts in global financial conditions on leverage of Japanese firms...
The role of firms' financial heterogeneity in determining the credit channel of monetary policy attr...
This paper studies the influence of credit fluctuations on capital structures from the credit supply...
This study is an attempt to determine the factors that influence a firm’s choice of capital structur...