For Japanese firms, since 1980 the share of external funds raised by bank borrowing has

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Since 1980, Japanese firms have moved away from relying on external funds raised through bank borrowing, instead seeking funding from other sources such as equity financing and the bond market. This trend has been driven in part by changes in Japan's financial system, including the deregulation of capital markets and the decline of traditional keiretsu corporate structures.

For Japanese Firms, Since 1980 the Share of External Funds