Financial Distress and Employment: The Japanese Case in the 90s / Kazuo Ogawa.

Format:

Book

Author/Creator:

Ogawa, Kazuo.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w9646.

NBER working paper series no. w9646

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Financial Distress and Employment

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2003.

Summary:

We examine quantitatively the extent to which financial distress in the 1990s affected employment behavior in Japan. Based on the firm-level panel data that include small firms, we estimate dynamic labor demand function, taking the impact of financial distress on employment into consideration. We find that the firm's ratio of debt to total asset exerts a significantly negative effect on employment of small firms. We also find that employment of small firms is sensitively affected by lending attitude of financial institutions.

Notes:

Print version record

April 2003.