農業法人の役員借入金と収益性に関する実証分析

抄録

This study empirically examined the relationship between executive loans to agricultural corporations and subsequent changes in profitability indicators. The analysis employed propensity score matching using financial data on agricultural corporations provided by Teikoku Databank. The findings revealed the following: (1) Agricultural corporations that received loans from their executives experienced a decline in operating profit margins from the year following the loan to the subsequent year. (2) This decline in operating profit margins was more pronounced when the funds were obtained for cash flow management purposes.