The effect of bank relationships on bond spreads: Additional evidence from Japan

Allen, 2000 Allen, 2014, The roles of banks in financial systems, 27 Aoki, 1994, Monitoring characteristics of the main bank system: An analytical and developmental view, 109 Aoki, 1994, The Japanese main bank system: An introductory overview, 1 Avramov, 2007, Momentum and credit rating, J. Financ., 62, 2503, 10.1111/j.1540-6261.2007.01282.x Bradley, 2015, The structure and pricing of corporate debt covenants, Q. J. Financ., 5, 1, 10.1142/S2010139215500019 Choi, 2016, How does the conflict of interest between loan holders and bondholders affect bond IPO underpricing? Datta, 1999, Bank monitoring and the pricing of corporate public debt, J. Financ. Econ., 51, 435, 10.1016/S0304-405X(98)00060-9 Diamond, 1984, Financial intermediation and delegated monitoring, Rev. Econ. Stud., 51, 393, 10.2307/2297430 Diamond, 1991, Monitoring and reputation: the choice between bank loans and directly placed debt, J. Polit. Econ., 99, 689, 10.1086/261775 Fama, 1985, What’s different about banks?, J. Monet. Econ., 15, 239, 10.1016/0304-3932(85)90051-0 Hodder, 1985, Some aspects of Japanese corporate finance, J. Financ. Quant. Anal., 20, 173, 10.2307/2330954 Hoshi, 1990, The role of banks in reducing the costs of financial distress in Japan, J. Financ. Econ., 27, 67, 10.1016/0304-405X(90)90021-Q Hoshi, 1993, The choice between public and private debt: an analysis of post-deregulation corporate financing in Japan Hoshi, 2001 Huang, 2016, Corporate bond pricing and ownership heterogeneity, J. Corp. Finan., 36, 54, 10.1016/j.jcorpfin.2015.11.001 Kang, 1993, The international market for corporate control: mergers and acquisitions of US firms by Japanese firms, J. Financ. Econ., 34, 345, 10.1016/0304-405X(93)90031-6 Kang, 1995, Firm performance, corporate governance, and top executive turnover in Japan, J. Financ. Econ., 38, 29, 10.1016/0304-405X(94)00807-D Kang, 2000, The effect of bank relations on investment decisions: an investigation of Japanese takeover bids, J. Financ., 55, 2197, 10.1111/0022-1082.00284 Kaplan, 1994, Appointments of outsiders to Japanese boards: determinants and implications for managers, J. Financ. Econ., 36, 225, 10.1016/0304-405X(94)90025-6 Ma, 2019, The effect of bank monitoring on public bond terms, J. Financ. Econ., 133, 379, 10.1016/j.jfineco.2019.02.003 Morck, 1999, Banks and corporate control in Japan, J. Financ., 54, 319, 10.1111/0022-1082.00106 Ongena, 2000, Bank relationships: A review, 221 Peek, 2005, Unnatural selection: perverse incentives and the misallocation of credit in Japan, Am. Econ. Rev., 95, 1144, 10.1257/0002828054825691 Petersen, 2009, Estimating standard errors in finance panel data sets: comparing approaches, Rev. Financ. Stud., 22, 435, 10.1093/rfs/hhn053 Rajan, 1992, Insiders and outsiders: the choice between informed and arm’s-length debt, J. Financ., 47, 1367, 10.1111/j.1540-6261.1992.tb04662.x Rauh, 2010, Capital structure and debt structure, Rev. Financ. Stud., 23, 4242, 10.1093/rfs/hhq095 Santos, 2006, The American keiretsu and universal banks: investing, voting and sitting on nonfinancials’ corporate boards, J. Financ. Econ., 80, 419, 10.1016/j.jfineco.2005.03.011 Sharpe, 1990, Asymmetric information, bank lending and implicit contracts: a stylized model of customer relationships, J. Financ., 45, 1069 Sheard, 1989, The main bank system and corporate monitoring and control in Japan, J. Econ. Behav. Organ., 11, 399, 10.1016/0167-2681(89)90037-1 Shleifer, 1997, A survey of corporate governance, J. Financ., 52, 737, 10.1111/j.1540-6261.1997.tb04820.x Weinstein, 1998, On the costs of a bank-centered financial system: evidence from the changing main bank relations in Japan, J. Financ., 53, 635, 10.1111/0022-1082.254893 Yasuda, 2007, Bank relationships and underwriter competition: evidence from Japan, J. Financ. Econ., 86, 369, 10.1016/j.jfineco.2006.08.006