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Does bank failure affect client firms? Micro evidence from Estonia

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  • Karin Joeveer

Abstract

I explore the effect of a bank's failure on its client firms using the 1998 bankruptcy of a middle-sized Estonian bank.I compare the performance of firms receiving credit from the bankrupt bank to that of a randomly selected set of firms between 1996 and 2000.I find the client firms to be less likely to survive until the end of the sample frame even after controlling for their performance before the bank bankruptcy.

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File URL: http://www.cerge-ei.cz/pdf/wp/Wp224.pdf
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Bibliographic Info

Paper provided by The Center for Economic Research and Graduate Education - Economic Institute, Prague in its series CERGE-EI Working Papers with number wp224.

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Date of creation: May 2004
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Handle: RePEc:cer:papers:wp224

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Related research

Keywords: Bank failure; Client firm performance; Firm bankruptcy;

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  1. Grosfeld, Irena & Roland, Gérard, 1995. "Defensive and Strategic Restructuring in Central European Enterprises," CEPR Discussion Papers 1135, C.E.P.R. Discussion Papers.
  2. Levine, Ross & Zervos, Sara, 1998. "Stock Markets, Banks, and Economic Growth," American Economic Review, American Economic Association, vol. 88(3), pages 537-58, June.
  3. Westgaard, Sjur & van der Wijst, Nico, 2001. "Default probabilities in a corporate bank portfolio: A logistic model approach," European Journal of Operational Research, Elsevier, vol. 135(2), pages 338-349, December.
  4. Yamori, Nobuyoshi & Murakami, Akinobu, 1999. "Does bank relationship have an economic value?: The effect of main bank failure on client firms," Economics Letters, Elsevier, vol. 65(1), pages 115-120, October.
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Cited by:
  1. Abildgren, Kim & Vølund Buchholst, Birgitte & Staghøj, Jonas, 2013. "Bank-firm relationships and the survival of non-financial firms during the financial crisis 2008-2009," Working Paper Series 1516, European Central Bank.

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