Operating leases and credit assessments: The role of main banks in Japan

IF 0.9 Q3 BUSINESS, FINANCE
Y. Koga, S. Saudagaran
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引用次数: 0

Abstract

This study examines how Japanese banks evaluate off-balance sheet operating leases in their credit assessments. Using a sample of 6,985 firm-year observations in Japan over the period 2001 to 2017, we find that banks in Japan evaluate off-balance sheet operating leases in certain circumstances. First, we find that banks evaluate such leases when firms have a strong relationship with a main bank. Second, banks assess firms’ credit risk by evaluating operating leases if there is a strong main bank relationship especially when estimation reliability is low. We uncover robust results by controlling for the systematic characteristics of a strong main bank relationship. Our study thus suggests that the main bank relationship plays the important role of conveying the off-balance sheet operating leases in loan contracts in Japan.
经营租赁和信用评估:日本主要银行的作用
这项研究考察了日本银行在信用评估中如何评估表外经营租赁。使用2001年至2017年期间日本6985个公司年度的观察样本,我们发现日本的银行在某些情况下评估表外经营租赁。首先,我们发现,当公司与主要银行关系密切时,银行会对此类租赁进行评估。其次,如果存在强大的主银行关系,特别是在估计可靠性较低的情况下,银行通过评估经营租赁来评估企业的信用风险。我们通过控制强主银行关系的系统特征来揭示稳健的结果。因此,我们的研究表明,在日本的贷款合同中,主银行关系在传达表外经营租赁方面发挥着重要作用。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
1.40
自引率
16.70%
发文量
19
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