The Effect of Bank Relations on Investment Decisions: An Investigation of Japanese Takeover Bids

By Jun-Koo Kang, A. Shivdasani, Takeshi Yamada. 2000

189 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/485bd6448cf79b77c3d5db8882063f7c15174d4a

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Finance

Citations in the corpus

Valuation effects of bank financing in acquisitions (2003, background): “Using a sample of Japanese mergers, Kang et al. (2000) find that Japanese firms with close links to a main bank tend to make valueenhancing acquisitions.”
Bank ownership and executive perquisites: New evidence from an emerging market (2011, background): “…conflicts of interest (Diamond, 1984; Mahrt-Smith, 2006; Welch, 1997), most studies find support for the notion that banks can effectively monitor and discipline borrowers and improve firm performance, at least in developed markets (Bris et al., 2006; Kang et al., 2000; Kroszner and Strahan, 2001).”
Institutional Investors and Institutional Environment: A Comparative Analysis and Review (2010, background): “For example, Japan is often characterized as having a weak debt market so firms are forced to borrow from banks, which can hold up to 40 per cent of the equity in a firm when they invest as a group (Aoki, 1990), and are viewed as informed investors (Kang et al., 2000).”
Banks, Ownership Structure, and Firm Value in Japan (2000, unknown): “This supports the evidence in Kaplan and Minton (1994) and Kang and Shivdasani (1997) who document that large corporate shareholders in Japan precipitate board level changes and corporate restructuring in poorly performing Japanese firms.”
Corporate Governance and Control (2003, unknown): “The 1980s USA takeover boom has been attributed to, inter alia, the 1986 Tax Reform Act and to the 1978 Bankruptcy Act; see Kaplan (1994b) for a discussion of the latter point. 110 Other characteristics of USA hostile deals are that they are more likely to involve cash offers and multiple bidders. A”