earticle

영어

This paper made an empirical analysis to examine the Main Bank`s role whether they share banker`s credit to enterprises as a business correspondent or not. And also, this paper is to examine the capital-cost-reduction effect of Maim Bank by analyzing the debt-cost-reduction effect and the internal-fund constraint relief effect. As a result of this analysis, I found out the following conclusion such as: Firstly, Main Bank reduce debt cost, but when it is dealing with a company which has financial problem, debt-cost-reduction effect is negative. Secondly, after examining not only Main Bank itself but also the size of company which control the internal fund-constraint-relief factor and the information-relief factor, I could meet with the following result that Main Bank will relieve the constraint internal-fund. The reasons for this result can be traced as follows: (1) excessive demand of finance, (2) sample selecting problem confining target of analysis to be listed enterprise, (3) non-autonomous relationship between bank and company, and (4) underdevelopment of capital market.