中国の中小企業金融 : 個票データの分析を中心に

概要

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This paper analyzes how the relationship lending affects the condition of the financial constraints and mortgage loans for the SMEs. As a result, as to the validity of the relationship lending, in the case of bank relationships of the SMEs is longer, or the number of banking relationships is smaller, financial constraints can be decreased. Furthermore, this paper shows that, as to real security, terms and conditions can be deregulated in the case of that number of banking relationships is smaller. Also it would be important for SMEs to concentrate their bank relationships on the specific banks and to keep bank relationships tightened. This paper finally shows the relationship lending would be valid for the deregulation of financial constraints and improvement of bank relationships in SMEs loans.
2011-01-31