The performance implications of relationship banking during macroeconomic expansion and contraction: a study of Japanese banks' social relationships and overseas expansion

• 成果类型: Review
• 署名作者: Wan, William P.; Yiu, Daphne W.; Hoskisson, Robert E.; Kim, Heechun
• 署名单位: Texas Tech University System; Texas Tech University; Chinese University of Hong Kong; Arizona State University; Arizona State University-Tempe
• 刊物名称: JOURNAL OF INTERNATIONAL BUSINESS STUDIES
• ISSN/ISSBN: 0047-2506
• DOI: 10.1057/palgrave.jibs.8400364
• 发表日期: 2008
• 页码: 406-427
• 关键词: Relationship banking; comparative corporate governance; social exchange and role; business groups; JAPAN; keiretsu

摘要

We propose a social perspective emphasizing the opportunities and constraints of bank-firm relationships to understand the determinants of relationship banks' performance, using Japanese banks to test our theory. Using social exchange and role theories, we found banks that have strong social relationships performed differently during Japan's macroeconomic expansion and contraction cycles. However, our results indicate that social exchange and role relationships are context-specific: banks benefited from internationalization during a domestic macroeconomic expansion as a result of their home-country social relationships, but they were less constrained by the same social relationships in their international operations during a domestic macroeconomic contraction.