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The Resource The Economics of Interfirm Networks

The Economics of Interfirm Networks

Label
The Economics of Interfirm Networks
Title
The Economics of Interfirm Networks
Creator
Contributor
Subject
Language
eng
Summary
  • This book is one of the first comprehensive works to fill the knowledge gap resulting from the limited number of empirical studies on interfirm networks. The in-depth empirical research presented here is based on a massive transaction relationship database of approximately 400,000 Japanese firms. This volume, unlike others, focuses on the role of interfirm networks in three different fields: (1) macroeconomic activities, (2) economic geography and firm dynamics, and (3) firm-bank relationships. The database for this work is constructed in collaboration with Japan's largest credit research company, Teikoku Data Bank, and covers a substantial portion of Japanese firms with information on firms' transaction partners, shareholders, financial institutions, and other attributes, including their locations and performance. Networks prevail in many aspects of economic activities and play a major role in explaining a wide variety of economic phenomena from business cycles to knowledge spillovers, which has motivated economists to produce a number of excellent works.  In the policy arena, there has been a growing concern on the vulnerabilities of networks based on the casual observation that idiosyncratic shocks on firms can be amplified through inter-firm connections and leads to a systemic crisis. Typical examples are the manufacturing supply-chain networks in the automobile and electronics industries which propagated regionally concentrated shocks (the Great East Japan Earthquake and floods in Thailand in 2011) into global ones. An abundance of theoretical literature on the formation and functions of networks is available already. This book breaks new ground, however, and provides an excellent opportunity for the reader to gain a more integrated understanding of the role of networks in the economy. The Economics of Interfirm Networks will be of special
  • interest to economists and practitioners seeking empirical and quantitative knowledge on interfirm and firm-bank networks
Member of
Cataloging source
MiAaPQ
Literary form
non fiction
Nature of contents
dictionaries
Series statement
Advances in Japanese Business and Economics Ser.
Series volume
v.4
The Economics of Interfirm Networks
Label
The Economics of Interfirm Networks
Link
http://libproxy.rpi.edu/login?url=https://ebookcentral.proquest.com/lib/rpi/detail.action?docID=2095907
Publication
Copyright
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Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
multicolored
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
  • Acknowledgements -- Contents -- About the Editors -- Chapter 1 The Economics of Interfirm Networks: Main Issues -- 1.1 Introduction -- 1.2 Summary of the Volume -- 1.2.1 Structure and Evolution of Interfirm Networks -- 1.2.2 Networks, Economic Geography, and Firm Activities -- 1.2.3 Bank-Firm Relationships and Firm Dynamics -- 1.3 Issues for Future Research -- References -- Part I Structure and Evolution of Interfirm Networks -- Chapter 2 Buyer-Supplier Networks and Aggregate Volatility -- 2.1 Introduction -- 2.2 Equivalence of Leontief and PageRank Models -- 2.3 Data -- 2.4 The Structure of Customer--Supplier Networks -- 2.4.1 Unequal Links Across Firms -- 2.4.2 How Closely are Firms Interconnected? -- 2.5 The Evolution of Customer--Supplier Networks -- 2.6 Implications for Firm Sales and Growth -- 2.6.1 The Relationship Between Customer Links and Firm Sales -- 2.6.2 Can Customer--Supplier Links Predict Firm Growth Correlations? -- 2.7 Conclusion -- References -- Chapter 3 Community Structure of a Large-Scale Production Network in Japan -- 3.1 Introduction -- 3.2 Interfirm Transaction Data in Japan -- 3.3 Visualization of the Production Network -- 3.4 Modularity Maximization -- 3.5 Decomposed Communities and Sub-Communities -- 3.6 Inter-Community and Inter-Sub-Community Relationships -- 3.6.1 D̀̀istance'' -- 3.6.2 Dendrograms -- 3.7 Directional Bias in Interfirm Transactions -- 3.8 Conclusion -- References -- Chapter 4 Interfirm Networks in Manufacturing Industry Agglomerations in Japan: Evidence from Survey Data -- 4.1 Introduction -- 4.2 Japan's Three Major Manufacturing Agglomerations -- 4.2.1 Historical Background -- 4.2.2 Interfirm Transaction Networks within the Agglomerations -- 4.3 Survey of Interfirm Relationships in the Three Major Industry Agglomerations in Japan -- 4.3.1 Structure of the Survey
  • 4.3.2 Basic Characteristics of Responding Firms -- 4.4 Interfirm Transaction Relationships -- 4.4.1 Trends in Interfirm Transaction Relationships -- 4.4.2 Firms' Relationship with Primary Transaction Partners -- 4.5 Other Types of Interfirm Relationships and Group Activities -- 4.6 Firm-Bank Relationships -- 4.7 Interactions Between Relationships of Different Types -- 4.7.1 Firm-Bank Relationships and Interfirm Transaction Relationships -- 4.7.2 Interaction between R&D Collaborations and Transaction Relationships -- 4.8 Conclusions -- References -- Part II Networks, Economic Geography, and Firm Activities -- Chapter 5 Economic Geography and Interfirm Transaction Networks -- 5.1 Introduction -- 5.2 Input-Output Data, Trade Data, and Transaction Data -- 5.3 What are Transactions Microdata? -- 5.4 Empirical Research Using Transactions Microdata -- 5.5 Interfirm Transaction Networks and Corporate Decision Making -- 5.6 Interfirm Transaction Relationships and the Geographic Propagation of Shocks -- 5.7 Concluding Remarks and Outlook for the Future -- References -- Chapter 6 Delineating Metropolitan Areas: Measuring Spatial Labour Market Networks Through Commuting Patterns -- 6.1 Introduction -- 6.2 Background, Current Practice, and Literature -- 6.2.1 The Current Situation in Colombia -- 6.2.2 Current Practice in the World -- 6.2.3 Prior Literature -- 6.3 A Simple Aggregation Algorithm -- 6.3.1 Preliminary Issues -- 6.3.2 Data -- 6.3.3 Algorithm -- 6.4 Results -- 6.4.1 Metropolitan Areas -- 6.4.2 Urban Regions -- 6.5 Robustness -- 6.6 Conclusions -- References -- Chapter 7 Determinants of Business and Financial Network Formation by Japanese Start-up Firms: Does Founders' Human Capital Matter? -- 7.1 Introduction -- 7.2 Literature Review -- 7.3 Analytical Framework and Hypotheses -- 7.4 Empirical Approach -- 7.5 Estimation Results and Discussion
  • 7.6 Concluding Remarks -- References -- Chapter 8 Geographical Spread of Interfirm Transaction Networks and the Great East Japan Earthquake -- 8.1 Introduction -- 8.2 Network Analysis -- 8.3 Data -- 8.4 Geographical Spread of the Earthquake -- 8.4.1 Definition of Affected Areas -- 8.4.2 Share of Indirect Transaction Partners -- 8.4.3 Geographical Proximity of Indirect Transactions -- 8.4.4 Connecting Path of Indirect Links -- 8.4.5 The Role of Regional Hub Firms in Spreading the Impact of the Earthquake -- 8.5 Conclusion -- Appendix -- References -- Part III Bank-Firm Relationships and Firm Dynamics -- Chapter 9 Bank-firm Relationships: A Review of the Implications for Firms and Banks in Normal and Crisis Times -- 9.1 Introduction -- 9.2 Exclusive Versus Non-Exclusive Lending -- 9.3 Relationship Banking: Costs and Benefits for Firms and Banks in Normal and Crisis Times -- 9.3.1 Bank Relationships: Benefits and Costs for the Firm During Normal and Crisis Times -- 9.3.2 Bank Relationships: Benefits and Costs for the Bank -- 9.4 The Impact of Monetary Policy and Bank-Firm Relationships -- 9.5 Conclusion -- References -- Chapter 10 A New Look at Bank-Firm Relationships and the Use of Collateral in Japan: Evidence from Teikoku Databank Data -- 10.1 Introduction -- 10.2 Data and Sample Characteristics -- 10.3 Relationships Between Firms and Financial Institutions -- 10.3.1 Number of Financial Institutions -- 10.3.2 Main Banks -- 10.3.2.1 Composition -- 10.3.2.2 Switching Main Banks -- 10.3.3 Transactions Between Firms and Financial Institutions: Borrowing -- 10.3.3.1 Total Amount of Borrowing -- 10.3.3.2 Borrowing from Main Banks -- 10.3.4 Transactions Between Firms and Financial Institutions: Deposits -- 10.3.4.1 Total Amount of Time Deposits -- 10.3.4.2 Transactions with Main Banks -- 10.4 Collateral -- 10.4.1 Data -- 10.4.2 Types of Collateral
  • 10.4.2.1 Composition -- 10.4.2.2 Univariate Analysis -- 10.4.3 Real Estate Collateral -- 10.4.3.1 Number of Properties, Properties Pledged, and Secured Loans -- 10.4.3.2 Secured Creditors (Lenders) -- 10.4.3.3 Seniority Among Secured Creditors -- 10.5 Conclusion -- References -- Chapter 11 What do Cash Holdings Tell us About Bank-Firm Relationships? A Case Study of Japanese Firms -- 11.1 Introduction -- 11.2 Bank-Firm Relationships and Cash Holdings: Formulation of Hypotheses -- 11.2.1 The Transaction Motive and Bank-Firm Relationships -- 11.2.2 The Precautionary Motive and Bank-Firm Relationships -- 11.2.3 The Agency Motive and Bank-Firm Relationships -- 11.2.4 Bank-Firm Relationships and Effective Borrowing Rates -- 11.3 Data Characteristics and Descriptive Statistics of Cash Holdings -- 11.3.1 Dataset Characteristics -- 11.3.2 Descriptive Statistics -- 11.4 Bank-Firm Relationships and their Effect on Firms' Cash Holdings: Empirical Evidence -- 11.4.1 Estimation Results for the Whole Observation Period: 2001--2009 -- 11.4.2 Estimation Results for the Sub-Period: 2007--2009 -- 11.4.3 Monopoly Rents -- 11.5 Concluding Remarks -- References -- Chapter 12 Bank Lending and Firm Activities: Overcoming Identification Problems -- 12.1 Introduction -- 12.2 Early Studies on Bank Lending and Firm Activities -- 12.3 Identification Strategies Used in Recent Studies -- 12.3.1 Event Studies and Bank Failure -- 12.3.2 Use of Geographical Borders -- 12.3.2.1 Evidence of International Transmission Using Aggregate Data -- 12.3.2.2 Evidence of International Transmission Using Matched Bank-Firm Data -- 12.3.2.3 Evidence of Domestic Transmission Using Matched Bank-Firm Data -- 12.3.3 Use of Loan-Level Information for Firms with Multiple Bank Relationships -- 12.3.4 Use of Information on Loan Applications and Acceptance/Rejection
  • 12.3.4.1 Survey Evidence on International Transmission -- 12.3.4.2 Survey Evidence on Domestic Transmission -- 12.3.5 Other Identification Strategies -- 12.4 Two Empirical Studies Using an Earthquake as a Natural Experiment -- 12.4.1 Capital Investment -- 12.4.2 Export Behavior -- 12.4.3 Results -- 12.4.3.1 Capital Investment -- 12.4.3.2 Exports -- 12.5 Conclusion -- References -- Index
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Extent
1 online resource (265 pages)
Form of item
online
Isbn
9784431553908
Media category
computer
Media MARC source
rdamedia
Media type code
c
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unknown sound
Specific material designation
remote

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