Directory of Researchers

UCHIDA Hirofumi
Graduate School of Business Administration / Division of Business Administration
Professor
Business / Economics
Last Updated :2021/04/12

Researcher Profile and Settings

Affiliation

  • <Faculty / Graduate School / Others>

    Graduate School of Business Administration / Division of Business Administration
  • <Related Faculty / Graduate School / Others>

    School of Business Administration / Department of Business Administration

Teaching

Research Activities

Research Interests

  • Banking
  • Finance

Research Areas

  • Humanities & social sciences / Money and finance

Committee Memberships

  • Nov. 2020 - Present, 神戸大学経済経営学会, 常任委員
  • Nov. 2018 - Present, Economic Notes, Associate Editor
  • Sep. 2018 - Present, 日本金融学会 金融経済研究, 編集委員
  • Jun. 2013 - Present, 独立行政法人 経済産業研究所 『企業金融・企業行動ダイナミクス研究会』, 委員
  • Jul. 2012 - Present, Jounal of Money,Credit and Banking, Associate editor
  • Jul. 2012 - Present, 日本政策金融公庫中小事業部, 『政策金融の有効性評価に関する研究会』委員
  • Oct. 2020 - Sep. 2026, 日本学術会議, 連携会員
  • Nov. 2020 - Nov. 2022, 国民経済雑誌, 編集委員長
  • Jun. 2020 - Jun. 2022, Nippon Finance Association, Board member
  • Jun. 2018 - Jun. 2022, 日本経済学会, 代議員
  • Dec. 2019 - Sep. 2020, Financial Research Center, Financial Services Agency, Special research fellow,
  • May 2016 - Oct. 2018, 日本金融学会, 金融経済研究 編集専門委員
  • Jan. 2014 - Mar. 2014, 金融庁金融経済研究センター, FSAリサーチレビュー
  • Jan. 2013 - Mar. 2013, 金融庁金融経済研究センター, FSAリサーチレビュー
  • Apr. 2006 - Mar. 2013, - Workshop on the dynamics of financial and industrial structure, The Research Institute of Economy, Trade, and Industry, Member
  • Nov. 2004 - Mar. 2006, Regional Finance Workshop, The Research Institute of Economy, Trade, and Industry, Member
  • Oct. 2004 - Jun. 2005, Workshop on the role of market-based indirect finance in funds flow, The Policy Institute of the Ministry of Finance, Writing member

Awards

  • Dec. 2018 財団法人 全国銀行学術研究振興財団, 全国銀行学術研究振興財団賞

    UCHIDA HIROFUMI

    『金融』有斐閣(2016年)、『金融機能と銀行業の経済分析』日本経済新聞出版社(2010年)、「金融:低成長下の日本の金融システム」深尾京司編『岩波講座 日本経済の歴史第6巻現代』所収、岩波書店(2018年)、「大震災と企業行動・企業金融」(共著)齊藤誠編『震災と経済』所収、東洋経済新報社(2015年)、「Banking in Japan 」 (共著)、A. Berger, P. Molyneux、and J.Wilson編『Oxford Handbook of Banking (2nd edition)』所収、Oxford University Press(2014年)、以上のように、日本の銀行システムの実証研究における一連の業績に対して

    Publisher

  • Feb. 2009 商工総合研究所, 中小企業研究奨励賞, 『検証 中小企業金融-「根拠なき通説」の実証分析』(渡辺努、植杉威一郎編著、執筆分担、第4章)

    UCHIDA Hirofumi, 渡辺努, 植杉威一郎

Published Papers

  • Arito Ono, Hirofumi Uchida, Gregory F. Udell, Iichiro Uesugi

    Elsevier BV, Apr. 2021, Journal of Financial Stability, 53, 100819 - 100819, English

    [Refereed]

    Scientific journal

  • 金融再編と地域公益:コメント

    内田浩史

    Mar. 2021, 金融経済研究, 43, 97 - 105, Japanese

    [Invited]

  • Natural Selection: A Review of Studies on Firms’ Exit and Efficiency

    Uchida, H

    Feb. 2021, Journal of Economics & Business Administration, 223 (2), 15 - 35, English

    Research institution

  • 金融制度設計に対する機能アプローチと銀商分離規制の検討

    内田浩史

    Nov. 2020, 金融庁金融研究センターディスカッションペーパーシリーズ, DP2020-4, Japanese

    Research society

  • Impact of a change in government loan rates on rates and amount of loans extended by other banks

    Iichiro Uesugi, Hirofumi Uchida, Hiromichi Iwaki

    Oct. 2020, Economic Review, 71 (4), 333 - 357, Japanese

    [Refereed]

    Scientific journal

  • The Real Driver of Trade Credit

    T. Tsuruta, H. Uchida

    Oct. 2019, Pacific-Basin Finance Journal, 57, English

    [Refereed]

    Scientific journal

  • A Study on Entrepreneurship in Japan: Analysis using Data from a Web Survey

    H. Uchida, C. Kwak

    Sep. 2019, Journal of Economics & Business Administration, 220 (3), 1 - 18, Japanese

    Symposium

  • Summary of the Survey on Business Startups and their Financing (Follow-up Survey)

    H. Uchida, C. Kwak

    Lead, Aug. 2019, Business Research, 67, 1 - 67, Japanese

    Research institution

  • 創業保証の規模と有効性

    UCHIDA HIROFUMI

    中央経済社, Jun. 2019, 信用保証制度を活用した創業支援―信用保証協会の役割と金融機関連携, 第3章36 - 61, Japanese

    Research institution

  • 廃業者の属性と現況-起業継続者・非継続者の比較から-

    UCHIDA HIROFUMI, 郭 チャリ

    Feb. 2019, 日本政策金融公庫論集, (42), Japanese

    Scientific journal

  • Banking in Japan:A Post Global Financial Crisis Perspective

    UCHIDA HIROFUMI, G. Udell

    Oxford University Press, 2019, Oxford Handbook of Banking, 3rd edition (Ch. 36), English

    Scientific journal

  • 金融:低成長下の日本の金融システムーバブル・危機・停滞化の安定

    UCHIDA Hirofumi

    May 2018, 岩波講座 日本経済の歴史 第6巻『現代』, 109 - 137, Japanese

    Scientific journal

  • 日本の創業ファイナンスに関する実態調査の結果概要

    UCHIDA Hirofumi, 郭 チャリ, HATAKEDA Takashi, 本庄 裕司, YAMORI Nobuyoshi

    神戸大学大学院経営学研究科, Apr. 2018, 経営研究, 66, 1 - 56, Japanese

    Research institution

  • 起業と資金調達に関する調査(本調査)の結果概要

    UCHIDA Hirofumi, 郭チャリ, 山田和郎

    Mar. 2018, 経営研究, (65), 1 - 47, Japanese

    Research institution

  • 起業と資金調達に関する調査(スクリーニング調査)の結果概要

    UCHIDA Hirofumi, 郭チャリ

    Feb. 2018, 経営研究(神戸大学大学院経営学研究科), (64), 1 - 19, Japanese

    Research institution

  • 都市間交通インフラと企業間取引・企業パフォーマンス―東日本大震災による高速道路途絶の影響

    細野 薫, 植杉 威一郎, UCHIDA HIROFUMI, 小野 有人, 宮川 大輔

    中央経済社, 2018, インフラを科学する―波及効果のエビデンス, Japanese

    Scientific journal

  • 無保証人貸出の導入と企業の資金調達・パフォー マンス

    UCHIDA Hirofumi, 植杉威一郎, 岩木宏道

    Jan. 2018, 金融経済研究, (40), 27 - 53, Japanese

    [Refereed]

    Scientific journal

  • 担保価値と資金制約:東日本大震災後の企業データを用いた分析

    UCHIDA Hirofumi, 宮川大介, 植杉威一郎, 小野有人, 細野薫

    Jan. 2018, 季刊住宅土地経済2018年冬季号, (107), 16 - 25, Japanese

    Scientific journal

  • 日本における創業企業の全体像と創業金融の把握

    UCHIDA Hirofumi

    Nov. 2017, 国民経済雑誌, 216 (5), 1 - 21, Japanese

    Research institution

  • Kaoru Hosono, Daisuke Miyakawa, Taisuke Uchino, Makoto Hazama, Arito Ono, Hirofumi Uchida, Iichiro Uesugi

    This article investigates the effect of banks' lending capacity on firms' investment. To identify exogenous shocks to loan supply, we utilize the natural experiment provided by Japan's Great Hanshin-Awaji earthquake in 1995. Using a unique data set that allows us to identify firms and banks in the earthquake-affected areas, we find that the investment ratio of firms located outside the earthquake-affected areas but having a main bank inside the areas was significantly smaller than that of firms located outside the areas and having a main bank outside the areas. Our findings suggest that loan supply shocks affect firm investment.

    WILEY, Nov. 2016, INTERNATIONAL ECONOMIC REVIEW, 57 (4), 1335 - 1370, English

    [Refereed]

    Scientific journal

  • 日本政策金融公庫との取引関係が企業パフォーマンスに与える効果の検証

    UCHIDA Hirofumi, 植杉威一郎, 水杉裕太

    Apr. 2016, 経済研究, 67, 238 - 260, Japanese

    [Refereed]

    Scientific journal

  • 賃金業者と銀行の審査方法に関する比較分析

    UCHIDA Hirofumi

    Apr. 2016, 現代ファイナンス, (37), 49 - 70, Japanese

    [Refereed]

    Scientific journal

  • 被災地企業の資金調達

    UCHIDA Hirofumi, 植杉威一郎, 小野有人, 細野薫, 宮川大介

    Mar. 2016, 東日本大震災復興研究V 震災復興は東北をどう変えたか(東北大学大学院経済学研究科,地域産業復興調査研究プロジェクト編, 南北者), Japanese

    Scientific journal

  • 借入制約と担保チャンネル

    UCHIDA Hirofumi

    Mar. 2016, Eco-Forum, 31 (3), 3 - 11, Japanese

    Scientific journal

  • 無担保貸出と企業の資金調達・パフォーマンス

    UCHIDA Hirofumi, 植杉威一郎, 岩木宏道

    Dec. 2015, 国民経済雑誌, 212 (6), 21 - 37, Japanese

    Research institution

  • Hirofumi Uchida, Daisuke Miyakawa, Kaoru Hosono, Arito Ono, Taisuke Uchino, Iichiro Uesugi

    In this paper, we investigate Whether financial shocks to firms affect their probability of bankruptcy. We also examine whether these shocks affect the natural selection of the firms, whereby more efficient firms are less likely to go bankrupt. By using the data on the bankruptcy of firms after the Great Tohoku Earthquake, we examine the impact of the damage to lender banks on the firms' probability of bankruptcy. To extract the impact of purely exogenous financial shocks on bankruptcy, we focus on firms located outside the earthquake-affected area but that transact with banks located inside the area. Our findings somewhat counterintuitively suggest that a damaged bank reduces the probability of bankruptcy and weakens the natural selection of firms. We further examine the impact of the injection of public capital into damaged banks and obtain some evidence that the injection reduces the probability of the bankruptcy of their borrowers and weakens the natural selection. (C) 2015 Elsevier B.V. All rights reserved.

    ELSEVIER SCIENCE BV, Nov. 2015, JAPAN AND THE WORLD ECONOMY, 36, 123 - 135, English

    [Refereed]

    Scientific journal

  • 担保価値と資金制約:東日本大震災後の企業データを用いた分析

    UCHIDA Hirofumi, 宮川大介, 植杉威一郎, 小野有人, 細野薫

    Jul. 2015, 経済研究, 66, 224 - 241, Japanese

    [Refereed]

    Scientific journal

  • Masazumi Hattori, Kohei Shintani, Hirofumi Uchida

    We examine who is the repository of soft information within bank organizations. Inconsistent with the conventional view of loan officers as the sole repository, we find that branch managers have the most soft information. We also find the repository at a higher hierarchical level at smaller banks. Furthermore, our evidence suggests that branch managers themselves actively collect soft information, especially at smaller banks. These findings suggest the need for a more nuanced view beyond the conventional emphasis on loan officers, and call for studies on the equilibrium design of the collection, processing, and use of soft information within bank organizations.

    WILEY-BLACKWELL, Jun. 2015, JOURNAL OF MONEY CREDIT AND BANKING, 47 (4), 737 - 770, English

    [Refereed]

    Scientific journal

  • UCHIDA Hirofumi, A. Ono, S. Kozuka, M. Hazama

    May 2015, T. Watanabe, I. Uesugi, and A. Ono eds. The Economics of Interfirm Networks, Springer Japan, English

    Scientific journal

  • 被災地企業の資金調達

    UCHIDA Hirofumi, 植杉威一郎, 小野有人, 細野薫, 宮川大介

    Mar. 2015, 東日本大震災復興研究Ⅳ 新しいフェーズを迎える東北復興への提言―「創造的復興」は果たせるか、4年目をレビュー―(東北大学大学院経済学研究科,地域産業復興調査研究プロジェクト編,河北新報出版センター), Japanese

    Scientific journal

  • 企業の環境変化と金融機関のあり方:日本の企業ファイナンスに関する実態調査(2014年)の結果概要

    UCHIDA Hirofumi, 小倉義明, 筒井義郎, 根本忠宣, 家森信善, 神吉正三, 渡部和孝

    Mar. 2015, 経営研究(神戸大学大学院経営学研究科), (61), 1 - 65, Japanese

    Research institution

  • 企業の環境変化と金融機関のあり方:日本の企業ファイナンスに関する実態調査(2014年)の結果概要

    UCHIDA Hirofumi, OGURA Yoshiaki, TSUTSUI Yoshiro, NEMOTO Tadanobu, YAMORI Nobuyoshi, KANKI Shozo, WATANABE Wako

    神戸大学大学院経営学研究科, Mar. 2015, 経営研究, (61), 1 - 64, Japanese

    Scientific journal

  • 大震災と企業行動・企業金融

    UCHIDA Hirofumi, 植杉威一郎, 小野有人, 細野薫, 宮川大介

    Jan. 2015, 震災と経済(日本学術振興会 東日本大震災学術調査報告書 第4巻), Japanese

    Scientific journal

  • 地域金融機関の経営実態

    UCHIDA Hirofumi, OGURA Yoshiaki, TSUTSUI Yoshiro, NEMOTO Tadanobu, YAMORI Nobuyoshi, KANKI Shozo, WATANABE Wako

    神戸大学大学院経営学研究科, May 2014, 経営研究, (57), 1 - 53, Japanese

    Scientific journal

  • 東日本大震災と企業退出:企業データベースの分析

    UCHIDA Hirofumi

    Apr. 2014, 経営研究, (60), 1 - 35, Japanese

    Research institution

  • 社会化と経済・教育・社会的成果

    UCHIDA HIROFUMI, HIOKI Koichi

    Apr. 2014, 経営研究, (58), Japanese

    Scientific journal

  • UCHIDA Hirofumi, Y. Ogura

    Apr. 2014, Journal of Financial Services Research, 49, 173 - 200, English

    [Refereed]

    Scientific journal

  • Tetsushi Homma, Yoshiro Tsutsui, Hirofumi Uchida

    In this paper we propose a new test of the efficient structure (ES) hypothesis, which predicts that efficient firms come out ahead in competition and grow as a result. Our test has significant advantages over existing ones, because it is more direct, and can jointly test the so-called quiet-life hypothesis, which predicts that in a concentrated market firms do not minimize costs. We then apply this test to large banks in Japan. Consistent with the ES hypothesis, we find that more efficient banks become larger. We also find that market concentration reduces banks' efficiency, which supports the quiet-life hypothesis. These findings imply that there is an intriguing growth-efficiency dynamic throughout banks' life cycle, although our findings also suggest that the ES hypothesis dominates the quiet-life hypothesis in terms of economic impact. (C) 2013 Elsevier B.V. All rights reserved.

    ELSEVIER SCIENCE BV, Mar. 2014, JOURNAL OF BANKING & FINANCE, 40, 143 - 153, English

    [Refereed]

    Scientific journal

  • 被災地企業の資金調達

    UCHIDA Hirofumi, 植杉威一郎, 小野有人, 細野薫, 宮川大介

    Mar. 2014, 東日本大震災復興研究Ⅲ 震災復興政策の検証と新産業創出への提言―広域的かつ多様な課題を見据えながら「新たな地域モデル」を目指す―(東北大学大学院経済学研究科 地域産業復興調査研究プロジェクト編, 河北新報出版センター), Japanese

    Scientific journal

  • UCHIDA Hirofumi, YAMORI NOBUYOSHI, 植杉威一郎, 小倉義明, 高久賢也, 冨村圭, 根本忠宣, 渡部和孝

    名古屋大学大学院経済学研究科付属国際経済政策研究センター, Mar. 2014, 調査と資料, (119), 1 - 95, Japanese

    Scientific journal

  • 社会化と経済・教育・社会的成果

    UCHIDA Hirofumi, 日置孝一

    Mar. 2014, 経営研究, (58), 1 - 21, Japanese

    Research institution

  • 復興需要と企業業績

    UCHIDA Hirofumi, 中岡孝剛

    Feb. 2014, 金融経済研究 特別号 東日本大震災復興の金融問題(招待論文), 3 - 16, Japanese

    Scientific journal

  • 東日本大震災と企業の二重債務問題

    UCHIDA Hirofumi, 植杉威一郎, 小野有人, 細野薫, 宮川大介

    Feb. 2014, 金融経済研究 特別号 東日本大震災復興の金融問題(招待論文), 17 - 36, Japanese

    Scientific journal

  • 地域金融機関の経営実態

    UCHIDA Hirofumi, 小倉義明, 筒井義郎, 根本忠宣, 神吉正三, 渡部和孝

    Jan. 2014, 経営研究, (57), 1 - 52, Japanese

    Research institution

  • Banking in Japan

    UCHIDA Hirofumi, G. Udell

    Jan. 2014, Oxford Handbook of Banking, 873 - 912, English

    Scientific journal

  • 企業間信用と銀行借入の代替性・補完性

    UCHIDA Hirofumi

    Nov. 2013, 国民経済雑誌, 208 (5), 19 - 32, Japanese

    Research institution

  • 大震災と企業行動のダイナミクス

    UCHIDA Hirofumi, 植杉威一郎, 内野泰助, 小野有人, 間真実, 細野薫, 宮川大介

    Apr. 2013, 経済研究, 64, 97 - 118, Japanese

    [Refereed]

    Scientific journal

  • 被災地企業の資金調達

    UCHIDA Hirofumi, 植杉威一郎, 小野有人, 細野薫, 宮川大介

    Mar. 2013, 東日本大震災復興研究Ⅱ 東北地域の産業・社会の復興と再生への提言(東北大学大学院経済学研究科 地域産業復興調査研究プロジェクト編), Japanese

    Scientific journal

  • Hirofumi Uchida, Gregory F. Udell, Wako Watanabe

    We test the hypothesis that trade creditors are relationship lenders using SME data from Japan. We find that the validity of the relationship lending hypothesis depends on the relative bargaining power between the buyer and sellers. Specifically, we find evidence that longer buyer-seller relationships may matter depending on the buyer-seller relative bargaining power. When a buyer depends too much on its main supplier, the supplier does not provide more credit as its relationship with the buyer matures. However, a longer buyer/main-supplier relationship is beneficial because a non-dependent buyer can obtain more overall credit from sellers. Depending on the extent to which this increase is due to an increase in the credit from the main suppliers, our findings are consistent with the relationship lending hypothesis. However, even if the increase mainly comes from other sellers, our findings imply that sellers extract a positive signal from a longer buyer/main-supplier relationship. © 2013 Elsevier B.V.

    Jan. 2013, Japan and the World Economy, 25-26, 24 - 38, English

    [Refereed]

    Scientific journal

  • 賃借関係における交渉力の決定要因

    UCHIDA Hirofumi

    Dec. 2012, 国民経済雑誌, 206 (1), 47 - 59, Japanese

    Research institution

  • 経済学的視点から見た二重債務問題ー企業の問題を中心にー

    UCHIDA Hirofumi, 植杉威一郎, 小野有人, 細野薫, 宮川大介

    Apr. 2012, 金融経済研究(日本金融学会), (34), 1 - 27, Japanese

    [Refereed]

    Scientific journal

  • Hirofumi Uchida, Gregory F. Udell, Nobuyoshi Yamori

    Previous research suggests that loan officers may play a critical role in relationship lending by producing soft information about SMEs. For the first time, we analyze this hypothesis and find empirical evidence that indicates that loan officer activities are associated with bank production of soft information. We also find that loan officers at small banks produce more soft information than at large banks, but large banks appear to have the equivalent potential to underwrite relationship loans. Nevertheless, large banks choose instead to focus their resources on transactions lending. (C) 2011 Elsevier Inc. All rights reserved.

    ACADEMIC PRESS INC ELSEVIER SCIENCE, Jan. 2012, JOURNAL OF FINANCIAL INTERMEDIATION, 21 (1), 97 - 122, English

    [Refereed]

    Scientific journal

  • 担保の経済分析:展望

    UCHIDA Hirofumi

    Dec. 2011, 国民経済雑誌, 204 (6), 45 - 60, Japanese

    Scientific journal

  • Hirofumi Uchida

    By applying factor analysis to unique data on loan screening for small and medium-sized enterprises (SMEs) in Japan, we investigate the factors that banks actually evaluate when underwriting commercial loans. We find that banks emphasize three factors when they decide whether to grant loans: the relationship factor, the financial statement factor, and the collateral/guarantee factor. We also find that smaller banks place greater emphasis on the relationship and the collateral/guarantee factors, and that banks under competitive pressure emphasize the relationship factor to a greater extent. We interpret these findings based on the theory of relationship lending and lending technologies.

    SPRINGER, Oct. 2011, JOURNAL OF FINANCIAL SERVICES RESEARCH, 40 (1-2), 29 - 48, English

    [Refereed]

    Scientific journal

  • Ryuichi Nakagawa, Hirofumi Uchida

    This paper investigates whether Japanese banks followed herd behaviour during the 1980s and 1990s. The results indicate the existence of herding during the sample period, while the inefficiency of herding is concentrated in the early to mid 1980s, the period immediately after financial deregulation began. Evidence for the inefficient herding is observed in the behaviour of banks that made loans to new borrowers, and in the behaviour of banks that followed the type of banks that were more informed on lending to new borrowers. On the other hand, inefficient herd behaviour is rarely observed in the 1990s.

    WILEY-BLACKWELL, Oct. 2011, ECONOMICA, 78 (312), 618 - 636, English

    [Refereed]

    Scientific journal

  • Hiroshi Fujiki, Hirofumi Uchida

    We show that the optimal inflation target imposed on a discretionary central bank varies with the extent of fiscal decentralization. Our analysis compares two fiscal regimes for local government bond management: the partially decentralized (PD) regime where the central government determines the amount of local bond; and the fully decentralized (FD) regime where each local government determines the amount of local bond. In both regimes, an inflation target has two effects: it harnesses surprise inflation; and it induces excess issuance of local bonds. Due to externality in determining the level of local government bond, however, the second effect, and thereby the optimal level of the inflation target, are smaller in the FD regime than in the PD regime. We also find that even if fiscal decentralization in its isolation deteriorates social welfare, we may be able to improve social welfare by introducing an inflation target when fiscal decentralization measures are adopted. (C) 2011 Elsevier B.V. All rights reserved.

    ELSEVIER SCIENCE BV, Aug. 2011, JAPAN AND THE WORLD ECONOMY, 23 (3), 178 - 189, English

    [Refereed]

    Scientific journal

  • Masaji Kano, Hirofumi Uchida, Gregory F. Udell, Wako Watanabe

    This paper investigates whether the benefits of bank-borrower relationships differ depending on three factors identified in the theoretical literature: verifiability of information, bank size and complexity, and bank competition. We extend the current literature by analyzing how relationship lending affects loan contract terms and credit availability in an empirical model that simultaneously accounts for all three of these factors. Based on Japanese survey data we find evidence that the benefits from stronger bank-borrower relationships in terms of credit availability are limited to smaller banks. However, when the benefits are measured as improved credit terms, we find little additional benefit, and in some cases increased cost, from stronger relationships for opaque borrowers and for borrowers who get funding from small banks. These latter findings suggest the possibility that relationship borrowers may suffer from capture effects. (C) 2010 Elsevier B.V. All rights reserved.

    ELSEVIER SCIENCE BV, Apr. 2011, JOURNAL OF BANKING & FINANCE, 35 (4), 935 - 954, English

    [Refereed]

    Scientific journal

  • The rationale behind the use of trade credit

    UCHIDA Hirofumi

    Mar. 2011, 現代ファイナンス, (29), 3 - 48, Japanese

    [Refereed]

    Scientific journal

  • リレーションシップ型金融の実態(2)日本の企業ファイナンスに関する実態調査の後半部分の概要

    UCHIDA Hirofumi, 中岡孝剛, 家森信善

    Jan. 2011, 経済科学, 59 (2), 1 - 27, Japanese

    Scientific journal

  • コーポレートファイナンス

    UCHIDA Hirofumi, 小佐野広

    Dec. 2010, 中林真幸・石黒真吾編『比較制度分析・入門』有斐閣, 第11章, Japanese

    Scientific journal

  • コーポレートファイナンス

    UCHIDA Hirofumi, 小佐野広

    Dec. 2010, 比較制度分析・入門(中林真幸・石黒真吾編,有斐閣), Japanese

    Scientific journal

  • Banking in Japan

    UCHIDA Hirofumi, G. Udell

    Dec. 2010, The Oxford Handbook of Banking, Ch. 35, 903 - 940, English

    Scientific journal

  • Banking in Japan

    UCHIDA Hirofumi, G. Udell

    Dec. 2010, Oxford Handbook of Banking, 903 - 940, English

    Scientific journal

  • リレーションシップバンキングと融資担当者の役割

    UCHIDA Hirofumi

    Jul. 2010, ビジネス・インサイト, (70), 20 - 21, Japanese

    Scientific journal

  • 金融危機下における中小企業金融の現状:『企業・金融機関との取引実態調査(2008年2月実施)』、『金融危機下における企業・金融機関との取引実態調査(2009年2月実施)』の結果概要

    UCHIDA Hirofumi, 植杉威一郎, 小倉義明, 小野有人, 胥鵬, 鶴田大輔, 根本忠宣, 平田英明, 安田行宏, YAMORI NOBUYOSHI, 渡部和孝, 布袋正樹

    Jul. 2009, RIETIディスカッションペーパー, 09-J-020, Japanese

    Scientific journal

  • Managerial Advice and the Choice between Bank Loans and Publicly Issued Debt

    UCHIDA Hirofumi

    May 2009, 経済理論(和歌山大学), (349), 119 - 142, Japanese

    Scientific journal

  • Is Relationship Banking a Panacea for Financing of Small- and Medium-Sized Enterprises?

    UCHIDA Hirofumi

    Sep. 2008, 渡辺努、植杉威一郎編著『検証 中小企業金融-根拠なき通説の実証分析』日本経済新聞出版社, 第4章, Japanese

    Scientific journal

  • Negative impact of bank consolidation on soft information acquisition

    UCHIDA Hirofumi, 小倉義明

    Apr. 2008, 経済研究, 経済研究, Japanese

    [Refereed]

    Scientific journal

  • Herd Behavior in the Japanese Loan Market: Evidence from Semi-Macro Data

    UCHIDA Hirofumi, R. Nakagawa

    Mar. 2008, Kansai University Review of Economics, 10, 25 - 49, English

    Scientific journal

  • 「リレーションシップバンキングは中小企業金融の万能薬か」

    UCHIDA HIROFUMI

    2008, 渡辺努、植杉威一郎編著『検証 中小企業金融-「根拠なき通説」の実証分析』第4章; 日本経済新聞出版社, Japanese

    Research society

  • リレーションシップバンキングは中小企業金融の万能薬か

    UCHIDA HIROFUMI

    2008, 渡辺努、植杉威一郎編著『検証 中小企業金融-「根拠なき通説」の実証分析』第4章; 日本経済新聞出版社, Japanese

    Research society

  • Economics of Relationship Banking

    UCHIDA Hirofumi

    May 2007, 筒井義郎・植村修一編著『リレーションシップバンキングと地域金融』日本経済新聞出版社, 第1章, Japanese

    Scientific journal

  • 「リレーションシップバンキングの経済学」

    UCHIDA HIROFUMI

    2007, 筒井義郎・植村修一編著『リレーションシップバンキングと地域金融』第1章; 日本経済新聞社, Japanese

    [Invited]

    Research society

  • リレーションシップバンキングの経済学

    UCHIDA HIROFUMI

    2007, 筒井義郎・植村修一編著『リレーションシップバンキングと地域金融』第1章; 日本経済新聞社, Japanese

    [Invited]

    Research society

  • Market-Oriented Indirect Finance and the Role of Financial Institutions

    UCHIDA Hirofumi

    May 2006, 池尾和人・財務省財務総合政策研究所編著『市場型間接金融の経済分析』日本評論社, 第3章, Japanese

    Scientific journal

  • Efficiency Structure Hypothesisw for City Babks

    UCHIDA Hirofumi, 筒井義郎, 佐竹光彦

    Feb. 2006, 経済産業ジャーナル(独立行政法人経済産業研究所)2006/02, -, Japanese

    Scientific journal

  • 「市場型間接金融と金融機関の機能」

    UCHIDA HIROFUMI

    2006, 池尾和人・財務省財務総合政策研究所編著『市場型間接金融の経済分析』日本評論社, Japanese

    Research society

  • 効率性仮説と市場構造=行動=成果仮説:再訪

    UCHIDA Hirofumi, 筒井義郎, 佐竹光彦

    Jan. 2006, RIETIディスカッション・ペーパー06-J-001, 経済産業研究所, Japanese

    Scientific journal

  • What is Market-Oriented Indirect Finance?

    UCHIDA Hirofumi

    May 2005, 三色旗(慶應義塾大学通信教育部), -, Japanese

    Scientific journal

  • Optimal contracts for central bankers and public debt policy

    H Fujiki, H Osano, H Uchida

    We consider how the second-best allocation corresponding to an optimal rule under the policy commitment of a central bank and a fiscal authority with a consolidated government budget constraint can be achieved, even though these authorities are unable to commit themselves to their optimal policies and ignore the strategic interaction between their policies. Our results show that the best practical institutional arrangement is to have an instrument-independent central bank that controls the money supply to determine the rate of inflation and commits itself to an inflation target that depends on fiscal variables.

    BLACKWELL PUBL LTD, Dec. 2004, JAPANESE ECONOMIC REVIEW, 55 (4), 372 - 400, English

    Scientific journal

  • Hiroshi Fujiki, Hiroshi Osano, Hirofumi Uchida

    We consider how the second-best allocation corresponding to an optimal rule under the policy commitment of a central bank and a fiscal authority with a consolidated government budget constraint can be achieved, even though these authorities are unable to commit themselves to their optimal policies and ignore the strategic interaction between their policies. Our results show that the best practical institutional arrangement is to have an instrument-independent central bank that controls the money supply to determine the rate of inflation and commits itself to an inflation target that depends on fiscal variables. © Japanese Economic Association 2004.

    Blackwell Publishing Ltd, 2004, Japanese Economic Review, 55 (4), 372 - 400, English

    [Refereed]

    Scientific journal

  • Contract theory in Banking and Finance

    UCHIDA Hirofumi

    Dec. 2003, 伊藤秀史・小佐野広編『インセンティブ設計の経済学』勁草書房, 第2章, Japanese

    Scientific journal

  • Governance role of bank monitoring in Japan

    UCHIDA Hirofumi, 小佐野広

    Sep. 2003, 寺西重郎・花崎正晴編『コーポレートガバナンスの経済分析』東京大学出版会, 第9章, Japanese

    Scientific journal

  • 金融分析と契約理論

    UCHIDA HIROFUMI

    2003, 伊藤秀史・小佐野広編『契約理論とその応用』勁草書房, Japanese

    Research society

  • 「日本における銀行モニタリングのガバナンス機能」

    UCHIDA HIROFUMI, OSANO HIROSHI

    2003, 寺西重郎・花崎正晴編『東アジアのコーポレート・ガバナンス』東京大学出版会, Japanese

    Research society

  • 「金融分析と契約理論」

    UCHIDA HIROFUMI

    2003, 伊藤秀史・小佐野広編『契約理論とその応用』勁草書房, Japanese

    Research society

  • Deposit Collateral and the Role of Banks

    UCHIDA Hirofumi

    Jan. 2003, European Finance Review (Review of Finance), 7, 409 - 435, English

    [Refereed]

    Scientific journal

  • Theoretical studies on bank regulation

    UCHIDA Hirofumi, 前多康男

    Jun. 2002, 大阪大学経済学, 52 (1), 1 - 23, Japanese

    Scientific journal

  • An Economic Analysis on Banking Regulation

    Hirofumi UCHIDA, Yasuo MAEDA

    2002, Osaka Economic Papers, 52, 1-23, Japanese

    Research institution

  • Capital structure of a regulated firm with a fixed-size project,

    UCHIDA Hirofumi, 水野敬三

    Jan. 2002, 経済理論(和歌山大学), 経済理論(和歌山大学), Japanese

    Scientific journal

  • The theoretical foundations of "Yardstick regulation

    UCHIDA Hirofumi

    Sep. 2000, 大阪大学経済学, 50 (1), 31 - 49, Japanese

    Scientific journal

  • The roles of financial institutions

    UCHIDA HIROFUMI

    Jul. 2000, 筒井義郎編著『金融分析の最先端』東洋経済新報社, 第1章, Japanese

    Research society

  • 中央銀行への最適契約

    UCHIDA HIROFUMI, OSANO HIROSHI, FUJIKI HIROSHI

    2000, 小佐野広・本多佑三編著『現代の金融と政策』日本評論社, Japanese

    Research society

  • 「中央銀行への最適契約」

    UCHIDA HIROFUMI, OSANO HIROSHI, FUJIKI HIROSHI

    2000, 小佐野広・本多佑三編著『現代の金融と政策』日本評論社, Japanese

    Research society

  • 「金融機関の機能」

    UCHIDA HIROFUMI

    2000, 筒井義郎編著『金融分析の最先端』東洋経済新報社, Japanese

    Research society

  • Optimal contracts for central banker

    UCHIDA Hirofumi, 小佐野広, 藤木裕

    Jan. 2000, 小佐野広・本多佑三編著『現代の金融と政策』日本評論社, 第7章, Japanese

    Scientific journal

  • An empirical study on the capital structure of regulated firms

    UCHIDA Hirofumi, 竹内哲治

    May 1999, 経済理論(和歌山大学), (289), 87 - 96, Japanese

    Scientific journal

  • 日本の金融仲介機関と資本市場

    UCHIDA HIROFUMI

    1999, 博士論文(大阪大学)., Japanese

    Doctoral thesis

  • 「日本の金融仲介機関と資本市場」

    UCHIDA HIROFUMI

    1999, 博士論文(大阪大学)., Japanese

    Doctoral thesis

  • Corporate finance and the "dual cycle" of loans for small and large firms in Japan

    UCHIDA Hirofumi

    Oct. 1998, 金融経済研究(日本金融学会), 第15号, pp.52-66, Japanese

    [Refereed]

    Scientific journal

  • Permission of the issuance of corporate bonds by commercial banks improves efficiency of bank loans

    UCHIDA Hirofumi

    Mar. 1998, 経済理論(和歌山大学), 第282号, pp.81-94, Japanese

    Scientific journal

  • Financial intermediaries and capital markets: A survey

    UCHIDA Hirofumi

    Nov. 1997, 金融経済研究(日本金融学会), 第13・14号, pp.32-43, Japanese

    [Refereed]

    Scientific journal

  • Regulation on large lot loans may hurt efficiency

    UCHIDA Hirofumi

    Mar. 1997, 大阪大学経済学, 第46巻, 第4号, pp.48-61, Japanese

    Scientific journal

  • Financial intermediaries and capital markets: A survey

    UCHIDA Hirofumi

    Oct. 1996, 大阪大学経済学, 第46巻, 第2号, pp.57-69, Japanese

    Scientific journal

  • 日本の貸出市場分析と融資の二重循環-貸出市場分析の新たな視点

    UCHIDA HIROFUMI

    1995, 修士論文(大阪大学)., Japanese

    Master thesis

  • 「日本の貸出市場分析と融資の二重循環-貸出市場分析の新たな視点」

    UCHIDA HIROFUMI

    1995, 修士論文(大阪大学)., Japanese

    Master thesis

MISC

  • ファイナンス・金融機関の「基礎の基礎」

    UCHIDA Hirofumi

    Apr. 2015, 経済学・経営学学習のために 国民経済雑誌別冊 平成27年度前期号, 43 - 50, Japanese

    Introduction research institution

  • 貸金業法改正後における企業の資金調達実態調査の概要

    UCHIDA Hirofumi, 植杉威一郎, 小野有人, 小塚荘一郎, 鶴田大輔, 君和田貴也

    Dec. 2011, 一橋大学産業・金融ネットワーク研究センター Working Paper Series, (14), Japanese

    Technical report

  • Current Status of Firm-Bank Relationships and the Use of Collateral in Japan: An Overview of the Teikoku Databank Data

    UCHIDA Hirofumi, Ono,A, Kozuka,S, Hazama,M, Uesugi,I

    Aug. 2010, Research Center for Interfirm Network Discussion Paper Series, (4), English

    Technical report

  • Current status of interfirm relations in Japan: An overview of the Teikoku Databank data

    UCHIDA Hirofumi, Ono,A, Kozuka,S, Hazama,M, Uesugi,I

    May 2010, Research Center for Interfirm Network Discussion Paper Series, (3), English

    Technical report

  • Hirofumi Uchida, Mitsuhiko Satake

    This paper investigates whether depositors and market investors exert disciplinary pressure on bank management in terms of efficiency improvement. We find that banks with more outstanding deposits are more cost-efficient, although little effect is found with respect to profit efficiency. This implies that depositors, the primary providers of funds to banks, likely play an important role in disciplining bank management, at least in terms of enforcing efficient use of inputs. Market discipline has garnered increasing attention as a mechanism to ensure bank soundness. Our results imply that depositors, the largest creditors to banks, may be of primary importance in this mechanism. © 2009 Elsevier B.V. All rights reserved.

    Dec. 2009, Journal of International Financial Markets, Institutions and Money, 19 (5), 792 - 802, English

  • Hirofumi Uchida, Mitsuhiko Satake

    This paper investigates whether depositors and market investors exert disciplinary pressure on bank management in terms of efficiency improvement. We find that banks with more outstanding deposits are more cost-efficient, although little effect is found with respect to profit efficiency. This implies that depositors, the primary providers of funds to banks, likely play an important role in disciplining bank management, at least in terms of enforcing efficient use of inputs. Market discipline has garnered increasing attention as a mechanism to ensure bank soundness. Our results imply that depositors, the largest creditors to banks, may be of primary importance in this mechanism. © 2009 Elsevier B.V. All rights reserved.

    Dec. 2009, Journal of International Financial Markets, Institutions and Money, 19 (5), 792 - 802, English

  • 金融危機下における中小企業金融の現状:『企業・金融機関との取引実態調査(2008年2月実施)』、『金融危機下における企業・金融機関との取引実態調査(2009年2月実施)』の結果概要

    植杉威一郎, 内田浩史, 小倉義明, 小野有人, 胥鵬, 鶴田大輔, 根本忠宣, 平田英明, 安田行宏, 家森信善, 渡部和孝, 布袋正樹

    2009, RIETIディスカッションペーパー 09-J-020

  • Managerial Advice and the Choice between Bank Loans and Publicly Issued Debt

    Uchida, H

    2009, 『経済理論』(和歌山大学), (349), 119 - 142

  • Current status of SMEs under the financial crisis: Summary of the results of ‘Survey on Transaction with Firms and Financial Institutions (February 2008)’ and ‘Survey on Transaction with Firms and Financial Institutions under the Financial Crisis (Febr・・・

    Uesugi, I, H. Uchida, Y. Ogura, A. Ono, X. Peng, D. Tsuruta, T. Nemoto, H. Hirata, Y. Yasuda, N. Yamori, W. Watanabe, M. Hotei

    Current status of SMEs under the financial crisis: Summary of the results of ‘Survey on Transaction with Firms and Financial Institutions (February 2008)’ and ‘Survey on Transaction with Firms and Financial Institutions under the Financial Crisis (February 2009)'

    2009, RIETI Discussion Paper 09-J-020

  • Managerial advice and the choice between bank loans and publicly issued debt

    Uchida, H

    2009, Economic Theory (Wakayama University), 349, 119 - 142

  • Hirofumi Uchida, Gregory F. Udell, Wako Watanabe

    Current theoretical and empirical research suggests that small banks have a comparative advantage in processing soft information and delivering relationship lending. The most comprehensive analysis of this view found using US data that smaller SMEs borrow from smaller banks and smaller banks have stronger relationships with their borrowers [Berger, A.N., Miller, N.H., Petersen, M.A., Rajan, R.G., Stein, J.C., 2005. Does function follow organizational form? Evidence from the lending practices of large and small banks. J. Finan. Econ. 76, 237-269]. We employ essentially the same methodology as Berger et al. on a unique Japanese data set and find results that are quite interesting from an international comparison point of view. We find, like Berger et al. in the US, that larger firms tend to borrow from larger banks, and that smaller banks have stronger relationships with their borrowers. However, additionally we find that the former result is not due to larger firms being more transparent in terms of their financial statements. These results imply that although small banks' comparative advantage in relationship lending is likely to be universal, large banks may not necessarily have a comparative advantage in extending transactions-based lending.

    ACADEMIC PRESS INC ELSEVIER SCIENCE, Jun. 2008, JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES, 22 (2), 242 - 267, English

  • Hirofumi Uchida, Gregory F. Udell, Wako Watanabe

    Current theoretical and empirical research suggests that small banks have a comparative advantage in processing soft information and delivering relationship lending. The most comprehensive analysis of this view found using US data that smaller SMEs borrow from smaller banks and smaller banks have stronger relationships with their borrowers [Berger, A.N., Miller, N.H., Petersen, M.A., Rajan, R.G., Stein, J.C., 2005. Does function follow organizational form? Evidence from the lending practices of large and small banks. J. Finan. Econ. 76, 237-269]. We employ essentially the same methodology as Berger et al. on a unique Japanese data set and find results that are quite interesting from an international comparison point of view. We find, like Berger et al. in the US, that larger firms tend to borrow from larger banks, and that smaller banks have stronger relationships with their borrowers. However, additionally we find that the former result is not due to larger firms being more transparent in terms of their financial statements. These results imply that although small banks' comparative advantage in relationship lending is likely to be universal, large banks may not necessarily have a comparative advantage in extending transactions-based lending.

    ACADEMIC PRESS INC ELSEVIER SCIENCE, Jun. 2008, JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES, 22 (2), 242 - 267, English

  • Hirofumi Uchida, Gregory F. Udell, Wako Watanabe

    Current theoretical and empirical research suggests that small banks have a comparative advantage in processing soft information and delivering relationship lending. The most comprehensive analysis of this view found using US data that smaller SMEs borrow from smaller banks and smaller banks have stronger relationships with their borrowers [Berger, A.N., Miller, N.H., Petersen, M.A., Rajan, R.G., Stein, J.C., 2005. Does function follow organizational form? Evidence from the lending practices of large and small banks. J. Finan. Econ. 76, 237-269]. We employ essentially the same methodology as Berger et al. on a unique Japanese data set and find results that are quite interesting from an international comparison point of view. We find, like Berger et al. in the US, that larger firms tend to borrow from larger banks, and that smaller banks have stronger relationships with their borrowers. However, additionally we find that the former result is not due to larger firms being more transparent in terms of their financial statements. These results imply that although small banks' comparative advantage in relationship lending is likely to be universal, large banks may not necessarily have a comparative advantage in extending transactions-based lending.

    ACADEMIC PRESS INC ELSEVIER SCIENCE, Jun. 2008, JOURNAL OF THE JAPANESE AND INTERNATIONAL ECONOMIES, 22 (2), 242 - 267, English

  • 「金融機関の経営統合とソフトな情報の毀損」vol. 59, pp. 153-163, 2008.

    小倉義明, 内田浩史

    2008, 『経済研究』, 59, 153 - 163

  • Negative impact of bank consolidation on soft information acquisition

    Ogura, Y, H. Uchida

    2008, Economic Review (Hitotsubashi University, 59, 153 - 163

  • Consolidation of Financial Institutions and Deterioration of Soft Information (in Japanese)

    Ogura, Y, H. Uchida

    2008, Economic Review, 59, 153 - 163

  • Uchida, H, G.F. Udell, W. Watanabe

    2008, Journal of the Japanese and International Economies, 22 (2), 242 - 267

  • Hirofumi Uchida, Ryuichi Nakagawa

    This paper investigates whether Japanese banks had been following herd behavior in the domestic loan market from 1975 through 2000. Applying the technique developed by Lakonishok, Shleifer, and Vishny [Lakonishok, J., Shleifer, A., Vishny, R.V., 1992. The impact of institutional trading on stock prices, J. Finan. Econ. 32, 23-43] to the data from loans outstanding to different types of borrowers, we obtain evidence indicative of the existence of herding. City banks in Japan had been following a cyclical pattern of herding with one of the peaks around the bubble period in the late 1980s. Adjusting further for herding resulting from rational behavior, evidence indicative of the existence of irrational herding was observed only in the bubble period. Our estimate indicates that a total of some 5 trillion yen of loan increase by city banks during the period of 1987-1989 can be attributed to irrational herd behavior. The results imply that irrational bank behavior in the late 1980s might have contributed to the problems Japanese banks had with non-performing loans. We also obtained evidence for herding among regional banks and among geographically proximate banks. (C) 2007 Elsevier Inc. All rights reserved.

    ACADEMIC PRESS INC ELSEVIER SCIENCE, Oct. 2007, JOURNAL OF FINANCIAL INTERMEDIATION, 16 (4), 555 - 583, English

  • Hirofumi Uchida, Ryuichi Nakagawa

    This paper investigates whether Japanese banks had been following herd behavior in the domestic loan market from 1975 through 2000. Applying the technique developed by Lakonishok, Shleifer, and Vishny [Lakonishok, J., Shleifer, A., Vishny, R.V., 1992. The impact of institutional trading on stock prices, J. Finan. Econ. 32, 23-43] to the data from loans outstanding to different types of borrowers, we obtain evidence indicative of the existence of herding. City banks in Japan had been following a cyclical pattern of herding with one of the peaks around the bubble period in the late 1980s. Adjusting further for herding resulting from rational behavior, evidence indicative of the existence of irrational herding was observed only in the bubble period. Our estimate indicates that a total of some 5 trillion yen of loan increase by city banks during the period of 1987-1989 can be attributed to irrational herd behavior. The results imply that irrational bank behavior in the late 1980s might have contributed to the problems Japanese banks had with non-performing loans. We also obtained evidence for herding among regional banks and among geographically proximate banks. © 2007 Elsevier Inc. All rights reserved.

    Oct. 2007, Journal of Financial Intermediation, 16 (4), 555 - 583, English

  • H Uchida, H Fujiki

    We derive an optimal state-contingent inflation target in an economy under uncertainty. This inflation target can improve inefficiencies stemming from two sources: the lack of commitment to predetermined policies and the lack of coordination between the monetary and fiscal authorities. We then discuss the pros and cons of our proposal compared with the solution proposed by Beetsma and Bovenberg [Beetsma, R.M.W.J., Bovenberg, A.L., 2001. When does an inflation target yield the second best? Scandinavian Journal of Economics 103, 119-126], paying special attention to their practical feasibility. We will show that in some countries where there is a highly independent central bank, our proposal is more attractive. (c) 2004 Elsevier B.V. All rights reserved.

    ELSEVIER SCIENCE BV, Dec. 2005, JAPAN AND THE WORLD ECONOMY, 17 (4), 470 - 479, English

  • H Uchida, H Fujiki

    We derive an optimal state-contingent inflation target in an economy under uncertainty. This inflation target can improve inefficiencies stemming from two sources: the lack of commitment to predetermined policies and the lack of coordination between the monetary and fiscal authorities. We then discuss the pros and cons of our proposal compared with the solution proposed by Beetsma and Bovenberg [Beetsma, R.M.W.J., Bovenberg, A.L., 2001. When does an inflation target yield the second best? Scandinavian Journal of Economics 103, 119-126], paying special attention to their practical feasibility. We will show that in some countries where there is a highly independent central bank, our proposal is more attractive. (c) 2004 Elsevier B.V. All rights reserved.

    ELSEVIER SCIENCE BV, Dec. 2005, JAPAN AND THE WORLD ECONOMY, 17 (4), 470 - 479, English

  • H Uchida, Y Tsutsui

    This paper investigates whether competition in the Japanese banking sector has improved in the last quarter of the 20th century. By estimating the first order condition of profit maximization. together with the cost function and the inverse demand function. we found that competition had improved, especially in the 1970s and in the first half of the 1980s. The results fail to reject a Cournot oligopoly for city banks for most of the period, while they do reject it for regional banks for the overall period. This suggests that competition among city banks was stronger than that among regional banks. (C) 2004 Elsevier B.V. All rights reserved.

    ELSEVIER SCIENCE BV, Feb. 2005, JOURNAL OF BANKING & FINANCE, 29 (2), 419 - 439, English

  • H Uchida, Y Tsutsui

    This paper investigates whether competition in the Japanese banking sector has improved in the last quarter of the 20th century. By estimating the first order condition of profit maximization. together with the cost function and the inverse demand function. we found that competition had improved, especially in the 1970s and in the first half of the 1980s. The results fail to reject a Cournot oligopoly for city banks for most of the period, while they do reject it for regional banks for the overall period. This suggests that competition among city banks was stronger than that among regional banks. (C) 2004 Elsevier B.V. All rights reserved.

    ELSEVIER SCIENCE BV, Feb. 2005, JOURNAL OF BANKING & FINANCE, 29 (2), 419 - 439, English

  • Deposit Collateral and the Role of Banks

    Uchida, H

    2003, European Finance Review, 7, 409 - 435

  • Deposit Collateral and the Role of Banks

    Uchida, H

    2003, European Finance Review, 7, 409 - 435

  • 内田浩史・前多康男「銀行規制の経済分析」

    2002, 『大阪大学経済学』, 52(1),1-23

  • 内田浩史・水野敬三「固定サイズプロジェクトを持つ被規制企業の資本構成」

    2002, 『経済理論』(和歌山大学), 305,81-94

  • Theoretical studies on bank regulation (in Japanese)

    Uchida, H, Y. Maeda

    2002, Osaka Economic Papers, 52 (1), 1 - 23

  • Capital structure of a regulated firm with a fixed-size project (in Japanese)

    Uchida, H, K. Mizuno

    2002, The Wakayama Economic Review, 305, 81 - 94

  • 内田浩史「ヤードスティック規制の理論的根拠に関する整理」

    2000, 『大阪大学経済学』, 50(1),31-49

  • The theoretical foundations of 'Yardstick regulation' (in Japanese)

    Uchida, H

    2000, Osaka Economic Papers, 50 (1), 31 - 49

  • Finacial intermediaries and capital markets in Japan (in Japanese)

    Uchida, H

    1999, Doctorial dissertation

  • 内田浩史「銀行の普通社債発行と経営コントロール機能」

    1998, 『経済理論』(和歌山大学), 22,81-94

  • Permission of the issuance of corporate bonds by commercial banks improves efficiency of bank loans (in Japanese)

    Uchida, H

    1998, The Wakayama Economic Review, 282, 81 - 94

  • Corporate finance and the 'dual sycle' of loans for small and large firms in Japan (in Japanese)

    Uchida, H

    1998, Studies on Financial Economics, 15, 52 - 66

  • 内田浩史「大口融資規制に関する一考察」

    1997, 『大阪大学経済学』, 46(4),48-61

  • Regulation on large lot loans may hurt efficiency (in Japanese)

    Uchida, H

    1997, Osaka Economic Papers, 46 (4), 48 - 61

  • Financial intermediaries and capital markets: A survey (in Japanese)

    Uchida, H

    1997, Studies on Financial Economics, 13 (14), 32 - 43

  • 内田浩史「日本の貸出市場分析と融資の二重循環-貸出市場分析の新たな視点」

    1995, 修士論文(大阪大学).

  • A survey on the analyses of the Japanese loan market and the 'dual cycle' of loans for small and large firms (in Japanese)

    Uchida, H

    1995, Master theses

Books etc

  • 金融

    UCHIDA Hirofumi

    Single work, 有斐閣, Dec. 2016, Japanese

    Scholarly book

  • Interfirm Relationships and Trade Credit in Japan: Evidence from Micro-Data

    UCHIDA Hirofumi, A. Ono, S. Kozuka, M. Hazama, I. Uesugi

    Joint work, Springer, Sep. 2014, English

    Scholarly book

  • Economic Analysis of Banking

    UCHIDA Hirofumi

    Single work, 日本経済新聞出版社, Dec. 2010, Japanese

    Scholarly book

  • Is Relationship Banking a Panacea for Small- and Medium-Sized Enterprise Financing (in Japanese)

    UCHIDA HIROFUMI

    Single work, 渡辺努、植杉威一郎編著『検証 中小企業金融-「根拠なき通説」の実証分析』第4章; 日本経済新聞出版社, 2008, Japanese

    Scholarly book

  • Economics of Relationship Banking (in Japanese)

    UCHIDA HIROFUMI

    Single work, Y. Tsutsui and S. Uemura eds., Relationship Banking and Regional Finance, Nikkei Publishing, Chapter 1, 2007, Japanese

    Scholarly book

  • Market-based indirect finance and the role of financial institutions (in Japanese)

    UCHIDA HIROFUMI

    Single work, in K. Ikeo and the Policy Research Institute of the Ministry of Finance eds., Economic Analysis of Market-Based Indirect Finance, Nihon Hyoronsha 2006, 2006, Japanese

    Scholarly book

  • Financial analysis and contract theory (in Japanese)

    Hirofumi Uchida

    Itoh, H. and H. Osano eds. Contract theory and its applications, Keiso Shobo Publishing, 2003

  • Governance role of bank monitoring in Japan (in Japanese)

    Uchida, H, H. Osano

    J. Teranishi and M. Hanazaki eds. Economics of Corporate Governance, University of Tokyo Press, 2003

  • 「金融分析と契約理論」

    UCHIDA HIROFUMI

    Single work, 伊藤秀史・小佐野広編『契約理論とその応用』勁草書房, 2003, Japanese

    Scholarly book

  • Big bang deregulation and Japanese corporate governance: A survey of the issues (by M. Gibson)(a translation into Japanese)

    UCHIDA HIROFUMI

    Single work, H. Patric and T. Hoshi eds., translations supervised by Y. Tsutsui, Crisis and Change in the Japanese Financial System, Nihon Keizai Shinbunsha 2001年, 2001, Japanese

    Scholarly book

  • 内田浩史「金融機関の機能」

    筒井義郎編著『金融分析の最先端』東洋経済新報社, 2000

  • 内田浩史・藤木裕・小佐野広「中央銀行への最適契約」

    小佐野広・本多佑三編著『現代の金融と政策』日本評論社, 2000

  • Optimal contracts for central bankers (in Japanese)

    UCHIDA HIROFUMI, 藤木裕, 小佐野広

    Joint work, H. Osano and Y. Honda eds., Modern Trends in Finance and Financial and Monetary Policy, Nihon Hyoronsha, 2000, Japanese

    Scholarly book

  • The roles of financial institutions (in Japanese)

    UCHIDA HIROFUMI

    Single work, Y. Tsutsui ed., Frontiers of Financial Analysis, Toyo Keizai Shiposha, 2000, Japanese

    Scholarly book

Presentations

  • 「Banking 研究における内生性問題とその対処」:特別レクチャー『コーポレートファイナンス・バンキング分野での内生性問題にどう対応していくか?』

    日本ファイナンス学会第1回秋季研究大会(大阪大学), Nov. 2019

    [Invited]

  • Current status of startup finance in Japan

    UCHIDA Hirofumi

    The 6th Asian SME Conference (Asia Council for Small Business), Sep. 2018, English, Iino Hall, Tokyo, International conference

    [Invited]

    Invited oral presentation

  • Current status of startup finance in Japan

    UCHIDA Hirofumi

    Japan Program Seminar, Feb. 2018, English, Asia Pacific Research Center, Stanford University, International conference

    Oral presentation

  • Natural Disaster and Natural Selection

    UCHIDA Hirofumi

    Stanford Juku on Japanese Political Economy 2016., Oct. 2016, English, Stanford University, International conference

    Oral presentation

  • Same Information, Different Valuation: New Evidence on the Value of Voluntary Assurance

    TAKADA Tomomi, Takayoshi Nakaoka, Hirofumi Uchida

    American Association Annual Meeting, Aug. 2016, English, Hilton New York, International conference

    Poster presentation

  • Same Information, Different Valuation: New Evidence on the Value of Voluntary Assurance

    TAKADA Tomomi, Takayoshi Nakaoka, Hirofumi Uchida

    International Symposium on Audit Research, Jun. 2016, English, Shangri -La: Rasa Sentosa Resort & Spa, International conference

    Poster presentation

  • Same Information, Different Valuation: New Evidence on the Value of Voluntary Assurance

    UCHIDA Hirofumi

    The 5th MoFiR Workshop on Banking, Jun. 2016, English, DePaul University, International conference

    Poster presentation

  • 東日本大震災と企業行動・企業金融

    UCHIDA Hirofumi

    日本金融学会, Oct. 2015, Japanese, 東北大学, Domestic conference

    [Invited]

    Invited oral presentation

  • Lending Pro-Cyclicality and Macro-Prudential Policy: Evidence from Japanese LTV Ratios

    UCHIDA Hirofumi

    American Finance Association, Jan. 2015, English, Boston, International conference

    Others

  • Collateral Value and Financial Constraint: Analysis Using Corporate Data after the Tohoku Earthquake

    UCHIDA Hirofumi

    Hitotsubashi-RIETI International Workshop on Real Estate Market and the Macro Economy, Dec. 2014, English, 経済産業研究所, International conference

    Others

  • Lending Pro-Cyclicality and Macro-Prudential Policy: Evidence from Japanese LTV Ratios

    UCHIDA Hirofumi

    The 3rd MoFiR Workshop on Banking, Jun. 2014, English, Department of Economics and Social Sciences, Università Politecnica delle Marche, Ancona, International conference

    Others

  • Lending Pro-Cyclicality and Macro-Prudential Policy: Evidence from Japanese LTV Ratios

    UCHIDA Hirofumi, Gregory Udell, 小野有人

    The 50th Annual Conference on Bank Structure and Competition of the Federal Reserve Bank of Chicago, May 2014, English, JW Marriott Hotel, Chicago, International conference

    Others

  • Natural Disaster and Natural Selection (with D. Miyakawa, K. Hosono, A. Ono, T. Uchino and I. Uesugi)

    UCHIDA Hirofumi

    International Workshop on “Economic Recovery from the Great East-Japan Earthquake”, Mar. 2014, English, Center for Global Partnership (the Japan Foundation) and GEM project in Gakushuin University, 経済産業研究所, International conference

    [Invited]

    Invited oral presentation

  • A Close Look at Loan-To-Value Ratios in Japan:Evidence from Real Estate Registries (with A. Ono, G. Udell, and I. Uesugi)

    UCHIDA Hirofumi

    Financial Management Association(European Conference), Jun. 2013, English, Neumunster Abbey, International conference

    Oral presentation

  • Natural Disaster and Natural Selection (with D. Miyakawa, K. Hosono, A. Ono, T. Uchino and I. Uesugi)

    UCHIDA Hirofumi

    International Workshop on “Economic Impact of the Great East-Japan Earthquake, Mar. 2013, English, the Japan Foundation and Empirical Research on Intangible Investment in Japan (Gakushuin University), Gakushuin University, International conference

    [Invited]

    Invited oral presentation

  • A Close Look at Loan-to-Ratio in Japan : Micro Evidence from Real Estate Registries (with A. Ono, G. Udell, and I. Uesugi)

    UCHIDA Hirofumi

    HIT-TDB-RIETI International Workshop on the Economics of Interfirm Networks, Nov. 2012, English, 経済産業研究所, International conference

    Oral presentation

  • Authority and Soft Information within a Bank Organization (with M. Hattori and K. Sintani)

    UCHIDA Hirofumi

    DNB-EBC-JMCB-KU conference on "Post-Crisis Banking, Jun. 2012, English, de Nederlandsche Bank, European Central Bank. Journal of Money, Credit, and Banking, and Kentucky University, de Nederlandsche Bank, International conference

    Oral presentation

  • Authority and Soft Information Production within Banking Organization(with M. Hattori and k. Shintani)

    UCHIDA Hirofumi, 服部正純, 新谷幸平

    学習院大学経済学部無形資産、生産性と日本経済コンファレンス, Feb. 2012, Japanese, 学習院大学, Domestic conference

    [Invited]

    Invited oral presentation

  • 経済学的視点から見た二重ローン問題

    UCHIDA Hirofumi

    日本金融学会, Sep. 2011, Japanese, 近畿大学, Domestic conference

    [Invited]

    Invited oral presentation

  • 日本における企業間関係と企業間信用の現状:TDBデータベースの概観

    UCHIDA Hirofumi

    一橋大学産業・金融ネットワーク研究センター・RIETI『産業・金融ネットワークプロジェクトワークショップ』, Feb. 2011, Japanese, 経済産業研究所, Domestic conference

    [Invited]

    Invited oral presentation

  • 企業間信用の実態と機能-コーポレートファイナンスの視点から

    UCHIDA Hirofumi

    日本ファイナンス学会研究観望会(第18回), Oct. 2010, Japanese, (社)金融財政事情研究会, (社)金融財政事情研究会, Domestic conference

    Oral presentation

  • Repayment Enforcement versus Information Advantages across Different Maturities: Empirical Determinants of Trade Credit Use (with I. Uesugi)

    UCHIDA Hirofumi

    The 25th Meeting of the European Economic Association, Aug. 2010, English, European Economic Association, Glasgow University, International conference

    Oral presentation

  • Repayment Enforcement versus Information Advantages across Different Maturities: Empirical Determinants of Trade Credit Use

    UCHIDA Hirofumi

    The 25th Meeting of the European Economic Association, Aug. 2010, English, European Economic Association, Glasgow University, International conference

    Oral presentation

  • You Buy and Borrow and They Sell and Lend: Analysis of Trade Credit with Matched Data (with I. Uesugi)

    UCHIDA Hirofumi

    The 22nd Annual Australasian Finance and Banking Conference, Dec. 2009, English, UNSW Australian School of Business, Shangri-La Hotel in Sydney, International conference

    Oral presentation

  • You Buy and Borrow and They Sell and Lend: Analysis of Trade Credit with Matched Data

    UCHIDA Hirofumi

    The 22nd Annual Australasian Finance and Banking Conference, Dec. 2009, English, UNSW Australian School of Business, Shangri-La Hotel in Sydney, International conference

    Oral presentation

  • Bank Consolidation and Soft Information Acquisition in Small Business Lending (with Y. Ogura)

    UCHIDA Hirofumi

    日本経済学会, May 2008, English, 東北大学, Domestic conference

    Oral presentation

  • Bank Consolidation and Soft Information Acquisition in Small Business Lending

    UCHIDA Hirofumi

    日本経済学会, May 2008, English, 東北大学, Domestic conference

    Oral presentation

  • Bank Consolidation and Soft Information Acquisition in Small Business Lending (with Y. Ogura)

    日本経済学会(東北大学), 2008

  • Bank Consolidation and Soft Information Acquisition in Small Business Lending

    UCHIDA HIROFUMI, Y. Ogura

    日本経済学会(東北大学), 2008, Japanese, Domestic conference

    Oral presentation

  • Bank Consolidation and Soft Information Acquisition in Small Business Lending (with Y. Ogura)).

    Japanese Economic Association, at Tohoku University, 2008

  • Bank Consolidation and Soft Information Acquisition in Small Business Lending (with Y. Ogura)

    UCHIDA Hirofumi

    日本金融学会, Sep. 2007, English, 同志社大学, Domestic conference

    Oral presentation

  • Bank Consolidation and Soft Information Acquisition in Small Business Lending

    UCHIDA Hirofumi

    日本金融学会, Sep. 2007, English, 同志社大学, Domestic conference

    Oral presentation

  • Are Trade Creditors Relationship Lenders? (with G. Udell and W. Watanabe)

    UCHIDA Hirofumi

    Financial Management Association (European Conference), May 2007, English, Financial Management Association, IESE Business School, International conference

    Oral presentation

  • Are Trade Creditors Relationship Lenders?

    UCHIDA Hirofumi

    Financial Management Association (European Conference), May 2007, English, Financial Management Association, IESE Business School, International conference

    Oral presentation

  • Bank Consolidation and Soft Information Acquisition in Small Business Lending (with Y. Ogura)

    日本金融学会(同志社大学), 2007

  • Bank Consolidation and Soft Information Acquisition in Small Business Lending

    UCHIDA HIROFUMI, Y. Ogura

    日本金融学会(同志社大学), 2007, Japanese, Domestic conference

    Oral presentation

  • Are Trade Creditors Relationship Lenders? (with G.F. Udell, and W. Watanabe)

    Financial Management Association European Conference(IESE Business School, Barcelona), 2007

  • Are Trade Creditors Relationship Lenders?

    UCHIDA HIROFUMI, G.F. Udell, W. Watanabe

    Financial Management Association European Conference(IESE Business School, Barcelona), 2007, English, International conference

    Oral presentation

  • Bank Consolidation and Soft Information Acquisition in Small Business Lending (with Y. Ogura)

    Japan Society of Monetary Economics at Doshisha University, 2007

  • Are Trade Creditors Relationship Lenders? (with G.F. Udell and W. Watanabe)

    Financial Management Association European Conference at IESE Business School Barcelona, 2007

  • Bank Size and Lending Relationships in Japan (with G. Udell and W. Watanabe)

    UCHIDA Hirofumi

    NBER-CEPR-TCER 20th Annual TRIO Conference, Dec. 2006, English, NBER, CEPR, TCER, 一橋大学, International conference

    Oral presentation

  • Bank Size and Lending Relationships in Japan

    UCHIDA Hirofumi

    NBER-CEPR-TCER 20th Annual TRIO Conference, Dec. 2006, English, NBER, CEPR, TCER, 一橋大学, International conference

    Oral presentation

  • Loan Officers and Relationship Lending (with G. Udell and N. Yamori)

    UCHIDA Hirofumi

    日本経済学会, Oct. 2006, English, 大阪市立大学, Domestic conference

    Oral presentation

  • Loan Officers and Relationship Lending

    UCHIDA Hirofumi

    日本経済学会, Oct. 2006, English, 大阪市立大学, Domestic conference

    Oral presentation

  • SME Financing and the Choice of Lending Technology (with G. Udell and N. Yamori)

    UCHIDA Hirofumi

    日本金融学会, Sep. 2006, Chinese, 小樽商科大学), Domestic conference

    Oral presentation

  • SME Financing and the Choice of Lending Technology

    UCHIDA Hirofumi

    日本金融学会, Sep. 2006, Chinese, 小樽商科大学), Domestic conference

    Oral presentation

  • Information Verifiability, Bank Organization, Bank Competition and Bank-Borrower Relationships (with M. Kano, G. Udell and W. Watanabe)

    UCHIDA Hirofumi

    日本経済学会, Jun. 2006, English, 福島大学, Domestic conference

    Oral presentation

  • Information Verifiability, Bank Organization, Bank Competition and Bank-Borrower Relationships

    UCHIDA Hirofumi

    日本経済学会, Jun. 2006, English, 福島大学, Domestic conference

    Oral presentation

  • Factors that Influence the Relationship between Banks and SMEs (銀行と中小企業のリレーションシップに影響を与える諸要因)

    UCHIDA Hirofumi

    RIETI Policy Symposium "Japan's Financial System: Revisiting the Relationship between Corporations and Financial Institutions"(RIETI政策シンポジウム『日本の金融~企業と金融機関の関係を問い直す』), Feb. 2006, English, RIETI, 新生銀行ホール, International conference

    [Invited]

    Invited oral presentation

  • 銀行と中小企業のリレーションシップに影響を与える諸要因 (Factors that Influence the Relationship between Banks and SMEs)

    UCHIDA HIROFUMI, G.F. Udell

    RIETI政策シンポジウム『日本の金融~企業と金融機関の関係を問い直す』(RIETI Policy Symposium "Japan's Financial System: Revisiting the Relationship between Corporations and Financial Institutions")(新生銀行ホール(東京)), 2006, Japanese, International conference

    Invited oral presentation

  • 「銀行と中小企業のリレーションシップに影響を与える諸要因」 (Factors that Influence the Relationship between Banks and SMEs) (G.F. Udellとの共同報告)

    RIETI政策シンポジウム『日本の金融~企業と金融機関の関係を問い直す』(RIETI Policy Symposium "Japan's Financial System: Revisiting the Relationship between Corporations and Financial Institutions")(新生銀行ホール(東京)), 2006

  • SME Financing and the Choice of Lending Technology (with G.F. Udell and N. Yamori)

    日本金融学会(小樽商科大学), 2006

  • SME Financing and the Choice of Lending Technology

    UCHIDA HIROFUMI, G.F. Udell, N. Yamori

    日本金融学会(小樽商科大学), 2006, Japanese, Domestic conference

    Oral presentation

  • Loan Officers and Relationship Lending (with G.F. Udell and N. Yamori)

    日本経済学会(大阪市立大学), 2006

  • Loan Officers and Relationship Lending

    UCHIDA HIROFUMI, G.F. Udell, N. Yamori

    日本経済学会(大阪市立大学), 2006, Japanese, Domestic conference

    Oral presentation

  • Information Verifiability, Bank Organization, Bank Competition and Bank-Borrower Relationships (with M. Kano, G.F. Udell, and W. Watanabe)

    日本経済学会(福島大学), 2006

  • Information Verifiability, Bank Organization, Bank Competition and Bank-Borrower Relationships

    UCHIDA HIROFUMI, M. Kano, G.F. Udell, W. Watanabe

    日本経済学会(福島大学), 2006, Japanese, Domestic conference

    Oral presentation

  • Bank Size and Lending Relationships in Japan (with G.F. Udell and W. Watanabe)

    NBER-CEPR-TCER 20th Annual TRIO Conference (一橋大学), 2006

  • Bank Size and Lending Relationships in Japan

    UCHIDA HIROFUMI, G.F. Udell, W. Watanabe

    NBER-CEPR-TCER 20th Annual TRIO Conference (一橋大学), 2006, English, International conference

    Oral presentation

  • Bank Size and Lending Relationships in Japan (with G.F. Udell and W. Watanabe)

    NBER-CEPR-TCER 20th Annual TRIO Conference at Hitotsubashi University, 2006

  • Loan Officers and Relationship Lending (with G.F. Udell and N. Yamori)

    Japanese Economic Association at Osaka City University, 2006

  • SME Financing and the Choice of Lending Technology (with G.F. Udell and N. Yamori)

    Japan Society of Monetary Economics at Otaru University of Commerce, 2006

  • Information VerifiabilityBank OrganizationBank Competition and Bank-Borrower Relationships

    Japanese Economic AssociationJune at Fukushima University, 2006

  • Factors that Influence the Relationship between Banks and SMEs (joint presentation with G. Udell)

    RIETI Policy Symposium "Japan's Financial System: Revisiting the Relationship between Corporations and Financial Institutions, 2006

  • Herd Behavior in the Japanese Loan Market: Evidence from Bank Panel Data (with R. Nakagawa)

    UCHIDA Hirofumi

    Econometric Society (Far Eastern Meeting), Jul. 2004, English, Econometric Society, Yonsei University (ソウル), International conference

    Oral presentation

  • Herd Behavior in the Japanese Loan Market: Evidence from Bank Panel Data (with R. Nakagawa)

    UCHIDA Hirofumi

    Econometric Society (Australasian Meeting), Jul. 2004, English, Econometric Society, Sheraton Towers Hotel Melbourne, International conference

    Oral presentation

  • Herd Behavior in the Japanese Loan Market: Evidence from Bank Panel Data

    UCHIDA Hirofumi

    Econometric Society (Far Eastern Meeting), Jul. 2004, English, Econometric Society, Yonsei University (ソウル), International conference

    Oral presentation

  • Herd Behavior in the Japanese Loan Market: Evidence from Bank Panel Data

    UCHIDA Hirofumi

    Econometric Society (Australasian Meeting), Jul. 2004, English, Econometric Society, Sheraton Towers Hotel Melbourne, International conference

    Oral presentation

  • Herd Behavior in the Japanese Loan Market: Evidence from Bank Panel Data (with R. Nakagawa)

    Econometric Society Australasian Meeting (Sheraton Towers Hotel Melbourne), 2004

  • Herd Behavior in the Japanese Loan Market: Evidence from Bank Panel Data (with R. Nakagawa)

    Econometric Society Far Eastern Meeting(Yonsei University), 2004

  • Herd Behavior in the Japanese Loan Market: Evidence from Bank Panel Data

    UCHIDA HIROFUMI, R. Nakagawa

    Econometric Society Far Eastern Meeting(Yonsei University), 2004, English, International conference

    Oral presentation

  • Herd Behavior in the Japanese Loan Market: Evidence from Bank Panel Data

    UCHIDA HIROFUMI, R. Nakagawa

    Econometric Society Australasian Meeting (Sheraton Towers Hotel Melbourne), 2004, English, International conference

    Oral presentation

  • Econometric Society Austrasian Meeting at Sheraton Towers Hotel (Melbourne)

    Herd Behavior in the Japanese Loan Market: Evidence from Bank Panel Data (with R. Nakagawa), 2004

  • Econometric Society Far Eastern Meeting at Yonsei University (Seoul)

    Herd Behavior in the Japanese Loan Market: Evidence from Bank Panel Data (with R. Nakagawa), 2004

  • Has Competition in the Japanese Banking Sector Improved? (with Y. Tsutsui)

    UCHIDA Hirofumi

    日本経済学会, Oct. 2002, English, 広島大学, Domestic conference

    Oral presentation

  • Has Competition in the Japanese Banking Sector Improved?

    UCHIDA Hirofumi

    日本経済学会, Oct. 2002, English, 広島大学, Domestic conference

    Oral presentation

  • Has Competition in the Japanese Banking Sector Improved? (with Y. Tsutsui)

    日本経済学会(広島大学), 2002

  • Has Competition in the Japanese Banking Sector Improved?

    UCHIDA HIROFUMI, Y. Tsutsui

    日本経済学会(広島大学), 2002, Japanese, Domestic conference

    Oral presentation

  • Japanese Economic Associationat Hiroshima University

    Has Competition in the Japanese Banking Sector Improved? (with Y. Tsutsui), 2002

  • Compensating Deposit and a Role of Bank

    UCHIDA Hirofumi

    日本経済学会, Sep. 2000, English, 大阪府立大学, Domestic conference

    Oral presentation

  • Compensating Deposit and a Role of Bank

    日本経済学会(大阪府立大学), 2000

  • Compensating Deposit and a Role of Bank

    Japanese Economic Associationat Osaka Prefecture University, 2000

  • Interim Monitoring in Bank Loans and Publicly Traded Debt

    UCHIDA Hirofumi

    日本経済学会, Sep. 1998, English, 立命館大学, Domestic conference

    Oral presentation

  • Optimal Contracts for Central Banker and Public Debt Policy (with H. Fujiki and H. Osano)

    UCHIDA Hirofumi

    日本経済学会, Jun. 1998, English, 青山学院大学, Domestic conference

    Oral presentation

  • Optimal Contracts for Central Banker and Public Debt Policy

    UCHIDA Hirofumi

    日本経済学会, Jun. 1998, English, 青山学院大学, Domestic conference

    Oral presentation

  • Optimal Contracts for Central Banker

    UCHIDA HIROFUMI

    日本経済学会(青山学院大学), 1998, Japanese, Domestic conference

    Oral presentation

  • Interim Monitoring in Bank Loans and Publicly Traded Debt

    日本経済学会(立命館大学), 1998

  • Interim Monitoring in Bank Loans and Publicly Traded Debt

    Japanese Economic Associationat Ritsumeikan University, 1998

  • Optimal Contracts for Central Banker and Public Debt Policy (with H. Fujiki and H. Osano)

    Japanese Economic Association Spring Meeting at Aoyama Gakuin University, 1998

  • Common Agency and Loan Diversification: "De facto" and "formal" syndicated loan

    UCHIDA Hirofumi

    理論計量経済学会, Sep. 1996, English, 大阪大学, Domestic conference

    Oral presentation

  • Common Agency and Loan Diversification: “De facto” and “formal” syndicated loan

    理論計量経済学会(大阪大学), 1996

  • Common Agency and Loan Diversification: “De facto” and “formal” syndicated loan

    Japan Association of Economics and Econometrics, at Osaka University, 1996

Association Memberships

  • American Economic Association

  • American Finance Association

  • Association of Behavioral Economics and Finance

  • Japan Society of Monetary Economics

  • Nippon Finance Association

  • Japanese Economic Association

Works

  • 近畿郵政局貯金部, 特別委託研究「資産運用リスクと公的規制」(共同研究)

    2001

  • 近畿郵政局貯金部, 郵便貯金に関する個別特別委託研究「金融機関の機能と郵便貯金」

    2000

  • 全国銀行学術研究振興財団 学術研究助成

    1999

  • 郵政省貯金局, 委託研究, 「金融経済理論の調査研究」 (共同研究)

    1998

  • 大阪銀行協会 大銀協フォーラム研究助成

    1998

  • 電気通信普及財団平成11年度研究調査助成(共同研究)

    1996

Research Projects

  • A historical investigation of financial intermediation in Japan: Unit cost of financial intermediation and bank liquidity creation

    小野 有人, 安田 行宏, 郡司 大志, 内田 浩史, 鎮目 雅人

    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (B), Grant-in-Aid for Scientific Research (B), Chuo University, Apr. 2020 - Mar. 2024, Coinvestigator

  • 保田 隆明, 小林 立明, ADHIKARY B.K., 内田 浩史

    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C), Grant-in-Aid for Scientific Research (C), Kobe University, Apr. 2019 - Mar. 2022, Coinvestigator

    本研究は、地方創生をささえる企業、特に社会的企業(ソーシャルビジネス)の資金調達において、近年新たに登場してきた様々な資金調達手段の有効活用法の提示と、それら資金調達手段の実態と課題をデータ分析と事例分析から明らかにすることで、地方創生のエコシステム構築に関して含意を得ることが目的である。具体的には、クラウドファンディング、地域通貨、ソーシャルインパクトボンド、ふるさと納税の各手法における最適な使用局面と地域への効果を検証する。 今年度は、地域通貨については、飛騨高山地方で展開されているさるぼぼコインについて、同通貨の運営母体である飛騨信用組合より個人情報が特定されない形での利用者データの学術使用目的でのデータ提供を受け、利用者および加盟店での利活用の実態調査を行った。それにより、利用者の利用時期に偏りがあること、また、利用者の属性では高齢者層にも浸透していることが判明し、電子地域通貨のアプリを小売店などがプロモーション活動に応用する可能性や、高齢者もメリットを認められればスマートフォンを利用したツールの活用に積極的になることが分かった。今後は、この地域通貨の地域内資金循環への貢献について引き続き研究していく。 クラウドファンディングについては、社会課題解決目的としてのシビッククラウドファンディングが欧米で実施されており、それの類似手法として日本におけるふるさと納税を活用した目的型クラウドファンディングについての比較検証を行った。日本でのデータを検証すると、地域での災害支援と起業家支援活動に用いられていることが判明したため、これによる地域活性化の可能性を示唆し、今後は具体的に数値的な効果検証を行っていく。

  • 環境エネルギー貸出利用の決定要因と効果

    野村マネジメント・スクール, 2020年度学術研究支援(研究助成), 2020 - 2022, Principal investigator

  • 内田 浩史

    科学研究費補助金/基盤研究(A), Apr. 2016 - Mar. 2021, Principal investigator

    Competitive research funding

  • UESUGI IICHIRO, ONO Arito, NISHIMURA Kiyohiko, HIRANO Tomohiro, HOSONO Kaoru, HORI Masahiro, MIZUNO Takayuki, MIYAKAWA Daisuke, YOSHIDA Jiro, OHNISHI Takaaki

    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (S), Grant-in-Aid for Scientific Research (S), Hitotsubashi University, May 2013 - Mar. 2018, Coinvestigator

    We started from examining the pricing mechanism of the real estate market. Then we studied theoretical models on the impact of asset price bubbles on economic growth to empirically test several predictions. We also employed exogenous shocks from the real estate market to examine their impact on households and firms. As a result of these studies, we have obtained the following findings: (1) substantial differences exist between Japan, the US, and China in the way real estate prices evolve during the boom and the bust period; (2) in Japan, reallocation of tangible assets and funds was efficiency-enhancing during the bubble period, while it turned to efficiency-reducing after the bubble; and (3) shocks from the real estate market have more sizable impact on the firm sector than on the household sector in Japan. Further, we have constructed databases useful to researchers and policy makers who are interested in the real estate market and its interactions with economic activities.

  • Abe Fellowship

    Abe Fellowship, 2016 (Grant year: 2017-2018)., 2017 - 2018

  • 内田 浩史

    科学研究費補助金/基盤研究(B), Apr. 2012 - Mar. 2016, Principal investigator

    Competitive research funding

  • 二国間交流「第4回MoFiRバンキング・ワークショップ」

    内田 浩史

    日本学術振興会, 二国間交流事業(イタリアとのセミナー), 2015, Principal investigator

    Competitive research funding

  • FUJIWARA Kenya, TAKAO Atsuchi, ISAGAWA Nobuyuki, UCHIDA Hirofumi, HATAKEDA Takashi, YAMASAKI Hisashi

    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (B), Grant-in-Aid for Scientific Research (B), Kobe University, 2010 - Mar. 2014, Coinvestigator

    According to the rapid progress of globalization and population aging in Japan, it is required to manage the capital more efficiently. So-called market-oriented indirect financing has been found to be more effective than traditional financing, such as indirect financing through commercial banks and direct financing via the stock market, in producing the optimal allocation of risks among multiple economic agents, and helping decompose and standardize those risks. This study theoretically and empirically examines the methods and events of market-oriented indirect financing, such as through syndicated loans, real estate reit, weather derivatives, bankruptcy events, buybacks, and catastrophes, in order to evaluate how best to marketize risks, assess the efficiency of risk pricing, determine the boundary between intermediaries and markets, and measure the effect of market-oriented indirect financing on the operating characteristics of the financial system and the real economy as a whole.

    Competitive research funding

  • 貸金業者と銀行の審査方法に関する比較分析

    公益財団法人 日本法制学会, 財政・金融・金融法制研究基金 研究助成金, 2013 - 2014, Principal investigator

  • 企業間信用と銀行借入の代替性・補完性: ミクロ的基礎付けに基づく実証分析"

    日本経済研究センター, 日本経済研究センター研究奨励金, 2011 - 2012, Principal investigator

  • 内田 浩史

    学術研究助成基金助成金/挑戦的萌芽研究, 2011, Principal investigator

    Competitive research funding

  • 内田 浩史

    科学研究費補助金/基盤研究(B), 2009, Principal investigator

    Competitive research funding

  • 内田 浩史

    科学研究費補助金/挑戦的萌芽研究, 2009, Principal investigator

    Competitive research funding

  • 村田学術振興財団 研究助成

    村田学術振興財団, 村田学術振興財団 研究助成, 2007 - 2008

  • 大阪銀行協会 大銀協フォーラム研究助成 (共同研究) 2007年

    大阪銀行協会, 大阪銀行協会 大銀協フォーラム研究助成, 2007 - 2007

  • 市場規律アプローチに基づく銀行規制に関する分析

    内田 浩史

    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Young Scientists (B), Grant-in-Aid for Young Scientists (B), Wakayama University, 2004 - 2006, Principal investigator

    本年度は昨年度取りまとめた2つの論文(筒井・佐竹・内田(2005,2006))の分析を精緻化し、学術雑誌への投稿を行う作業を行った。同論文では銀行の組織的非効率性と規模の不経済性の推定式と、それらが銀行規模に与える影響を調べる推定式とを別々に(逐次的に)推定していたが、この方法は計量経済学的に十分なものとはいえないことが分かった。そこで、本年度においては同時推定の方法を検討した。その結果、同時推定のためには複雑な尤度関数を考え、また非効率性の推定方法についてもこれまでのものと代替的なアプローチを採用することが望ましい可能性もあることが分かった。こうした検討作業はかなりの時間を要するものであったが、推定式および推定方法についてはほぼ検討を終了し、現在推定作業を行っているところである。今後はなるべく早く結果を確定し、投稿を行いたい。 また、銀行の流動性創出機能に関する日米比較についても引き続き研究を行っているが、同研究の元となった米国の研究(Berger and Bouwman(2005,mimeo.))において流動性指標の計算に多少問題があることが分かり、本研究で行う日米比較においてもこの問題を解決する必要があることが分かった。この作業をなるべく早期に終え、論文を完成させて学術雑誌への投稿を行いたい。

  • THEORETICAL AND EMPIRICAL STUDIES ON INTERNATIONAL FINANCIAL MARKETS AND FINANCIAL REGULATION

    MAGHREBI Nabil, UCHIDA Hirofumi

    Japan Society for the Promotion of Science, Grants-in-Aid for Scientific Research Grant-in-Aid for Scientific Research (C), Grant-in-Aid for Scientific Research (C), WAKAYAMA UNIVERSITY, 2003 - 2005, Coinvestigator

    The results achieved during this research program derive from four interrelated projects, which examine important issues related to the realignment towards interest rate parity, the herding behavior in the banking sector, and stock market volatility in its relationship with foreign exchange fluctuations and with implied volatility from options markets. The aggregate results shed light on international financial markets and institutions. From the perspective of economic integration, there is evidence of nonlinearities in the behavior of Asian real interest differentials in the sense that large shocks to real interest parity are more likely to lead to faster readjustments than smaller shocks (Holmes and Maghrebi, IREF, 2004). The results also provide evidence of asymmetric monetary-policy, which suggests that for many countries, linkages with respect to the U.S. are likely to be less prevalent in a regime of rising nominal interest rates and falling inflation (Holmes and Maghrebi, JIFMIM, forthcoming). Based on a new approach for assessing the degree of economic and financial integration between G7 countries, there is also evidence of stronger integration between the US and Canada and much weaker integration with Japan. There is no clear evidence of structural breakdown in conditional correlation associated with significant events such as the ERM crisis or the introduction of the Euro (Holmes and Maghrebi, EREF, 2005). From the perspective of behavioral finance, the results suggest the existence of herding behavior in the Japanese loan market with evidence of causality from city banks to regional banks, from long-term credit banks and trust banks to city banks. The evidence from a panel data of Japanese banks suggests the existence of a cyclical pattern of herding. The signs of irrational herding observed only in association with the financial bubble, suggest that the irrational bank behavior was contributive to the bad loan problems in the late 1980s (Nakagawa and Uchida, WP 2003 & Uchida and Nakagawa, WP 2005). As far as the relationship between financial markets is concerned, there is new evidence from dynamic covariance modelling that market volatility tends to be ceteris paribus, more responsive to bad news about equity than good news and to currency depreciation than appreciations. The results indicate that appreciations are conducive to lower volatility in currency markets than depreciation. Also, the association of bad news with currency depreciation is likely to increase the level of volatility in currency markets and affect the extent of leverage effects in equity markets. These empirical results may partly explain the aversion of Asian countries toward beggar-thy-neighbor policies of exchange rate (Maghrebi, Holmes and Pentecost RPBFMP, forthcoming). Finally, another, achievement of this research program is the development of a new benchmark of expected volatility in the Japanese stock market in order to aggregate anticipation of future volatility across options prices. The Nikkei 225 implied volatility is not available in financial databases and it is constructed following the methodology underlying the new VIX index disseminated by Chicago Board of Options Exchange. There is evidence that despite its upward bias, implied volatility is more reflective of changes in realized volatility than alternative GARCH models, which account for volatility persistence and the asymmetric impact of news. Given the higher out-of sample performance of implied volatility the evidence lend support to the rationale behind drawing inference about future stock market volatility from option prices and to the usefulness of the new implied volatility index (Nishina, Maghrebi and Kim, DP 2006).

  • Fulbright Scholar

    Fulbright Grant (visiting scholar program) 2002, (Grant year: 2003-2004 )., 2003 - 2004

  • 「資産運用リスクと公的規制」(共同研究)

    近畿郵政局貯金部, 特別委託研究, 2001, Coinvestigator

  • 「金融機関の機能と郵便貯金」

    近畿郵政局貯金部, 郵便貯金に関する個別特別委託研究, 2000, Principal investigator

  • 全国銀行学術研究振興財団, 学術研究助成, 1999, Principal investigator

  • 大阪銀行協会, 大銀協フォーラム研究助成, 1998, Principal investigator

  • 「金融経済理論の調査研究」

    郵政省貯金局, 委託研究, 1998, Coinvestigator

  • 電気通信普及財団, 平成11年度研究調査助成, 1996, Coinvestigator