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Collective Relationship Banking and Private Information Monitoring in Korea

Author

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  • Yoonhee Tina Chang

    (Centre for Competition Policy, University of East Anglia)

Abstract

The structure of conglomerates embedded in the strong vertical ownership network in East Asia was believed to be a driving force for the economic success but was also blamed for the recent financial crisis in Asia given the fallacy – too big to collapse. This paper introduces a notion of collective relationship banking (CRB) as a mechanism for monitoring private information and investigates the likelihood of such banking relationship when the borrowing firms have heterogeneous vertical ownership structure using a Korean firm level panel dataset. Policy concerns are then addressed since the post-crisis corporate restructuring may create a more concentrated banking relationship with a few dominant banks.

Suggested Citation

  • Yoonhee Tina Chang, 2006. "Collective Relationship Banking and Private Information Monitoring in Korea," Working Paper series, University of East Anglia, Centre for Competition Policy (CCP) 2006-02, Centre for Competition Policy, University of East Anglia, Norwich, UK..
    • Handle: RePEc:uea:ueaccp:2006_02
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    Cited by:

    1. Achmad Tohirin & Mohd Adib Ismail, 2016. "Financial constraints and Islamic finance: Lesson learned from external financing perspective," Economic Journal of Emerging Markets, Universitas Islam Indonesia, vol. 8(2), pages 98-108, April.

    More about this item

    Keywords

    Collective Relationship Banking; Vertical Ownership; Information Monitoring; Relation-Based Governance;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L59 - Industrial Organization - - Regulation and Industrial Policy - - - Other

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