Do firms benefit from multiple banking relationships? Evidence from small and medium- sized firms in Japan

Allen F, Gale D (2000) Comparing financial systems. MIT, London, pp 47–73

Aoki M, Patrick H (1994) The Japanese main bank system: its relevance for developing and transforming economies. Oxford, New York, pp 3–50

Atanasova CV, Wilson N (2004) Disequilibrium in the UK corporate loan market. J Bank Financ 28:595–614

Bannier CE (2007) Heterogeneous multiple bank financing: does it reduce inefficient credit-renegotiation incidences? Fin Mkts Portfolio Mgmt 21:445–470

Berger AN, Klapper LF, Udell GF (2001) The ability of banks to lend to informationally opaque small businesses. J Bank Financ 25:2127–2167

Berger AN, Saunders A, Scalise JM, Udell GF (1998) The effects of bank mergers and acquisitions on small business lending. J Financ Econ 50:187–229

Berger AN, Udell GF (2002) Small business credit availability and relationship lending: the importance of bank organizational structure. Econ J 112:32–53

Boot AWA (2000) Relationship banking: what do we know? J Financ Intermed 9:7–25

Boot AWA, Thakor AV (2000) Can relationship banking survive competition? J Financ 55:679–713

Carletti E (2004) The structure of bank relationships, endogenous monitoring, and loan rates. J Financ Intermed 13:58–86

Cole RA (1998) The importance of relationships to the availability of credit. J Bank Financ 22:959–77

Cosci S, Meliciani V (2002) Multiple banking relationships: evidence from the Italian experience. Manch Sch 70 (Supplement 1463–6786):37–54

D'Auria C, Foglia A, Reedtz PM (1999) Bank interest rates and credit relationships in Italy. J Bank Financ 23:1067–1093

Degryse H, Van Cayseele P (2000) Relationship lending within a bank-based system: evidence from European small business data. J Financ Intermed 9:90–109

Detragiache E, Garella P, Guiso L (2000) Multiple versus single banking relationships: theory and evidence. J Financ 55:1133–1161

Diamond DW (1984) Financial intermediation and delegated monitoring. Rev Econ Stud 51:393–414

Elsas R, Heinemann F, Tyrell M (2004) Multiple but asymmetric bank financing: the case of relationship lending. CESifo Working Papar 1251

Elsas R, Krahnen JP (1998) Is relationship lending special? Evidence from credit-file data in Germany. J Bank Financ 22:1283–1316

Gardner R (1998) Unobservable individual effects in unbalanced panel data. Econ Lett 58:39–42

Gersovitz M (1980) Classification probabilities for the disequilibrium model. J Econometrics 14:239–246

Harhoff D, Körting T (1998) Lending relationships in Germany—empirical evidence from survey data. J Bank Financ 22:1317–1353

Hausman JA, Taylor WE (1981) Panel data and unobservable individual effects. Econometrica 49:1377–1398

Hellwig M (1991) Banking, financial intermediation and corporate finance. In: Giovannini A, Mayer C (eds) European financial integration. New York, Cambridge, pp 35–63

Horiuchi T (1994) The effect of firm status on banking relationships and loan syndication. In: Aoki M, Patrick H (eds) The Japanese main bank system. New York, Oxford, pp 258–294

Hoshi T, Kashyap A, Scharfstein D (1990) The role of banks in reducing the costs of financial distress in Japan. J Financ Econ 27:67–88

Hoshi T, Kashyap A, Scharfstein D (1991) Corporate structure, liquidity, and investment: evidence from Japanese industrial group. Q J Econ 106:33–60

Lehmann E, Neuberger D (2001) Do lending relationships matter? Evidence from bank survey data in Germany. J Econ Behav Organ 45:339–359

Maddala GS, Nelson FD (1974) Maximum likelihood methods for markets in disequilibrium. Econometrica 42:1013–1030

Neuberger D, Pedergnana M, Räthke S (2008) Concentration of banking relationships in Switzerland: the results of firm structure or banking market structure? J Finan Serv Res 33:101–126

Neuberger D, Räthke S (2009) Microenterprises and multiple bank relationships: the case of professionals. Small Bus Econ 32:207–229

Ogawa K, Sterken E, Tokutsu I (2007) Why do Japanese firms prefer multiple bank relationship? Some evidence from firm-level data. Econ Syst 31:49–70

Ogawa K, Suzuki K (2000) Demand for bank loans and investment under borrowing constraints: a panel study of Japanese firm data. J Jpn Int Econ 14:1–21

Rajan RG (1992) Insiders and outsiders: the choice between informed and arm’s-length debt. J Financ 47:1367–1400

Petersen MA, Rajan RG (1994) The benefits of lending relationships: evidence from small business data. J Financ 49:3–37

Petersen MA, Rajan RG (1995) The effect of credit market competition on lending relationships. Q J Econ 110:407–443

Sapienza P (2002) The effects of banking mergers on loan contracts. J Financ 57:329–367

Sharpe SA (1990) Asymmetric information, bank lending, and implicit contracts: a stylized model of customer relationships. J Financ 45:1069–1087

Stein JC (2002) Information production and capital allocation: decentralized versus hierarchical firms. J Financ 57:1891–1921

Stiglitz J, Wise A (1981) Credit rationing in markets with imperfect information. Am Econ Rev 71:393–410

von Thadden EL (1995) Long-term contracts, short-term investment and monitoring. Rev Econ Stud 62:557–575

Ziane Y (2003) Number of banks and credit relationships: empirical results from French small business data. Eur Rev Econ Financ 2:33–60