Proceedings of Global Business and Finance Research Conference
5-6 May, 2014, Marriott Hotel, Melbourne, Australia, ISBN: 978-1-922069-50-4
A Competition among Financial Institutions
and Exit Rate of Startup Companies☆
Yuta Ogane*
In this paper, we make clarify the influence that a competition among financial
institutions has on the exit rate of startup companies. As a result, we can obtain
the following results. First, the competition among financial institutions has a
positive correlation with the exit rate of startup companies. In other words,
excessive competition among the financial institutions causes the exit rate of
startup companies to rise. Second, the competition among large financial
institutions has greater effect on the exit rate of new firms than the competition
among small financial institutions.
JEL Codes: G33, G21 and M13
☆
I would like to thank Jiro Nemoto, Tadashi Sonoda, Ichihiro Uchida, Nobuyoshi Yamori, and the
participants at the Chubu Area Study Group of the Japan Society of Monetary Economics and the 26th
International Business Research Conference for their helpful comments. All remaining errors are my
own responsibility.
*
Graduate School of Economics, Nagoya University, Furo-cho, Chikusa-ku, Nagoya, Aichi 464-8601,
Japan e-mail: ogane.yuta@e.mbox.nagoya-u.ac.jp
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