神戸大学附属図書館デジタルアーカイブ
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https://doi.org/10.24546/81012894
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2024-04-26
07:38 集計
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81012894 (fulltext)
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ファイル出力
メタデータID
81012894
アクセス権
open access
出版タイプ
Version of Record
タイトル
新型コロナ禍における中小企業支援の市場内対応 : 制度比較の視座
その他のタイトル
Market Responses for Supporting Small and Medium Enterprises During the COVID-19 Pandemic: A Comparative Perspective
著者
著者ID
A1671
研究者ID
1000010291981
KUID
https://kuid-rm-web.ofc.kobe-u.ac.jp/search/detail?systemId=f2f28f96165ce602520e17560c007669
著者名
金子, 由芳
Kaneko, Yuka
カネコ, ユカ
所属機関名
社会システムイノベーションセンター
収録物名
国際協力論集
巻(号)
29(1)
ページ
87-110
出版者
神戸大学大学院国際協力研究科
刊行日
2021-07
公開日
2021-08-05
抄録
This paper looks at the measures to mitigate the economic impact of the COVID-19 pandemic, giving attention to the private legal relationships of market actors such as corporations and financial institutions, in addition to governmental interventions such as subsidy measures and soft lending by governmental institutions, with a focus on what self-coordinating functions are exercised by market actors in emergencies that differ from the normal capitalistic legal regime, leading to a more resilient private relation. As the method of examination, this paper will focus on SME financing in other Asian countries, and conduct a comparative study based on interviews with companies and financial institutions. A common financial aspect among these countries is that the SME sector has a trend of constant undercapitalization due to the dependence on indirect finance, while on the other hand, there is a similarity in the legal systems in that debt laws are traditionally designed to be favorable to financial institutions and do not recognize the defense of force majeure. Therefore, there is a common trend that SMEs easily face the risk of bankruptcy due to loss of cash flow as the direct result of the measures to control the pandemic. In other words, the main issue for this paper is what kind of normative changes are being sought by Asian companies and financial institutions in the face of this common crisis. A finding from this study is an effort continued in the debtor-creditor relation in the local financing in Japan, where the regional financial institutions are increasing their exposure to the future insolvency risks of SMEs which had no other choice to increase the debt balance to the governmental financial organizations due to the emergency borrowing to avoid immediate insolvency, where the insolvency procedures are considered as the last resort for reasonable negotiation forum between the private actors. In the corporate finance in some Asian countries, the government-led structured workout schemes have started to be utilized as suggested in the recent argument of the economists who insist the utilization of insolvency law and measures as a means of the economic selection which compels the drastic change to the Asian SME sector known for its low labor productivity. Thus, the COVID-19 pandemic has been a moment to test the different choices of the SME policies and the relevant laws for either the promotion of liberal negotiation forum or the governmental intervention for selective protections.
カテゴリ
社会システムイノベーションセンター
国際協力論集
>
29巻
>
29巻1号(2021-07)
紀要論文
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資源タイプ
departmental bulletin paper
言語
Japanese (日本語)
ISSN
0919-8636
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NCID
AN10418744
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関連情報
URI
http://www.research.kobe-u.ac.jp/gsics-publication/jics/
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