Persistent Social Networks and Credit Allocation: Evidence from Japan
実施中
新保 奈穂美
This study examines how persistent social networks affect bank-firm relationships and credit allocation. The literature highlights asymmetric information as a central friction in lending markets, and lenders often rely on social networks to acquire soft information and mitigate such frictions. However, an important empirical challenge is that social networks are difficult to measure and are often endogenous to economic activity.To address this issue, we exploit exogenous sources of variation in long-term social connectedness across regions to identify causal effects. Using data on bank-firm relationships since 2007, we examine the determinants of the formation and termination of transaction relationships between firms and banks. Access to JoRAS geocoding services is necessary to geocode bank and firm locations, calculate geographical proximity, and construct spatial variables required for this analysis.
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植杉 威一郎 / 一橋大学経済研究所
Nguyen Thuy Linh / 東京大学経済学研究科
王 滕（ワン・テン / テキサス大学
Anna Lucia SOBIECH / University of Cologne
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