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210 大学院現代社会文化研究科 = Graduate School of Modern Society and Culture >
20 紀要 = Departmental Bulletin Paper >
01 現代社会文化研究 = The journal of the study of modern society and culture >

 

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Title :地方銀行の経営不安に対する株式市場の評価 : 新潟中央銀行への早期是正措置発動が県内公開企業に与えた影響についての実証分析
Title alternative :The Stock Market Values of Financial Difficulty : the Analysis of the Effect of the Prompt Corrective Action for the Niigata Chuo Bank on their Client Firms
Authors :佐藤, 弘子
Publisher :新潟大学大学院現代社会文化研究科
Issue Date :Mar-2004
Journal Title :現代社会文化研究
Volume :29
Start Page :113
End Page :129
ISSN :13458485
Description :I employ standard event study methodology to examine the value of banking relationship. My analysis focuses on the case of the Niigata Chuo Bank during a financial crisis. Treating the prompt corrective action by Financial Supervisory Agency for the Niigata Chuo Bank on June 11, 1999 as a signal for bank failure, I investigate the effect of financial difficulty of the Niigata Chuo Bank on the clients of the bank. I find that the market values of the customers of the bank are not adversely affected on the event of the action announcement. However, my analysis reveals that the Daishi Bank, the largest bank in Niigata, records a statistically significant positive abnormal return. Firms and banks are not equally affected by bank problems. The prompt corrective action represents a good new for the largest healthy bank. The relationship banking of the Niigata Chuo Bank is likely to be replaced by that of the Daishi Bank.
Keywords :地方銀行
リレーションシップ・バンキング
イベント・スタディ
Type Local :紀要論文
Language :jpn
URI :http://hdl.handle.net/10191/953
fullTextURL :http://dspace.lib.niigata-u.ac.jp/dspace/bitstream/10191/953/1/18_0141.pdf
Appears in Collections:01 現代社会文化研究 = The journal of the study of modern society and culture

Please use this identifier to cite or link to this item: http://hdl.handle.net/10191/953