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Does bank failure affect client firms? Micro evidence from Estonia

  • Karin Joeveer

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

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Date of creation: May 2004
Date of revision:
Handle: RePEc:cer:papers:wp224
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  1. 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.
  2. 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.
  3. Grosfeld, Irena & Roland, Gérard, 1995. "Defensive and Strategic Restructuring in Central European Enterprises," CEPR Discussion Papers 1135, C.E.P.R. Discussion Papers.
  4. Ross Levine & Sara Zervos, . "Stock markets, banks and economic growth ," CERF Discussion Paper Series 95-11, Economics and Finance Section, School of Social Sciences, Brunel University.
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