Ogawa, Kazuo; Sterken, Elmer; Tokutsu, Ichiro - 2005
We explore the determinants of the number of long-term bank relations of listed Japanese firms using a unique data set … covering the period 1982-1999. Japanese listed firms have about seven long-term bank loan relations on average, but show a … large variation around the average. We analyze the determinants of the choice for the number of bank relations. We use data …