rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    title: Hometown Investment Trust Funds
    sub title: A Stable Way to Supply Risk Capital
  name:
    name part: Yoshino, Naoyuki.
    role:
      role term: editor.
  name:
    name part: Kaji, Sahoko.
    role:
      role term: editor.
  name:
    name part: SpringerLink (Online service)
  type of resource: text
  origin info:
    place:
      place term: ja
    date issued: 2013
    issuance: monographic
  language:
    language term: eng
  physical description:
    form: electronic
    form: electronic resource
    reformatting quality: access
    form: remote
    extent: IX, 98 p. online resource.
  abstract: This book records the first success stories of a new form of financial intermediation, the hometown investment fund, that has become a national strategy in Japan, partly to meet the need to finance small and medium-sized enterprises (SMEs) after the devastating earthquake and tsunami in March 2011. The hometown investment fund has three main advantages. First, it contributes to financial market stability by lowering information asymmetry. Individual households and firms have direct access to information about the borrowing firms, mainly SMEs, that they lend to. Second, it is a stable source of risk capital. The fund is project driven. Firms and households decide to invest by getting to know the borrowers and their projects. In this way the fund distributes risk but not so that it renders risk intractable, which was the problem with the “originate and distribute” model. Third, it contributes to economic recovery by connecting firms and households with SMEs that are worthy of their support. It also creates employment opportunities, at the SMEs as well as for the pool of retirees from financial institutions who can help assess the projects. Introduction of the hometown investment fund has huge global implications. The world is seeking a method of financial intermediation that minimizes information asymmetry, distributes risk without making it opaque, and contributes to economic recovery. Funds similar to Japan’s hometown investment fund can succeed in all three ways. After all, the majority of the world’s businesses are SMEs. The first chapter explains the theory behind this method, and the following chapters relate success stories from Japan and other parts of Asia. This book should encourage policymakers, economists, lenders, and borrowers, especially in developing countries, to adopt this new form of financial intermediation, thus contributing to global economic stability.
  table of contents: Ch1 The Background of Hometown Investment Trust Funds (Naoyuki Yoshino) -- Ch2 Supply of Risk Capital for Regional Development in Japan (Atsuo Akai) -- Ch3 Hometown Investment Trust Funds in Japan (Masami Komatsu) -- Ch4 Hometown Investment Trust Funds for Regional Development (Norifumi Sugimoto) -- Ch5 HIT as a Form of Microfi nance in Asia (Yuka Morita) -- Ch6 Concluding Remarks and the Way Forward (Shuhei Shiozawa).
  note: edited by Naoyuki Yoshino, Sahoko Kaji.
  subject:
    topic: Entrepreneurship
  subject:
    topic: Business ethics
  subject:
    topic: Finance
  subject:
    topic: Macroeconomics
  subject:
    topic: Public finance
  subject:
    topic: Economics
  subject:
    topic: Public Economics
  subject:
    topic: Finance, general
  subject:
    topic: Macroeconomics/Monetary Economics//Financial Economics
  subject:
    topic: Entrepreneurship
  subject:
    topic: Business Ethics
  classification: HJ9-9940
  classification: 336
  related item:
    title info:
      title: Springer eBooks
  identifier: 9784431543091
  identifier: http://dx.doi.org/10.1007/978-4-431-54309-1
  record info:
    record creation date: 130322
    record change date: 20151204163937.0
    record identifier: 978-4-431-54309-1