Overview
Following the end of large-scale monetary easing and the policy shifts after the COVID-19 pandemic, the environment surrounding firm survival, exit, business restructuring, and new entry has changed substantially. This project investigates the mechanisms underlying firm exit, survival, and entry, with a particular focus on the role of finance in shaping these outcomes. It also provides empirical evidence on the effects of financial and industrial policies—including out-of-court restructuring frameworks, the Japanese Small Business Innovation Research (SBIR) program, and government credit guarantee schemes—on firm behavior and the broader economy. In parallel with this investigation, the project also promotes fundamental research on corporate finance, including firms' financing decisions and the information production function of financial institutions.
October 1, 2026 - March 31, 2029
（During the research project period, the research activity period is set from October 1, 2026, to September 30, 2028, and the data usage reporting period is set from October 1, 2028 to March 31, 2029.）
