Does bank failure affect client firms? Micro evidence from Estonia
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.
|Date of creation:||May 2004|
|Date of revision:|
|Contact details of provider:|| Postal: P.O. Box 882, Politickych veznu 7, 111 21 Praha 1|
Phone: (+420) 224 005 123
Fax: (+420) 224 005 333
Web page: http://www.cerge-ei.cz
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- Grosfeld, I. & Roland, G., 1995.
"Defensive and Strategic Restructuring in Central European Enterprises,"
DELTA Working Papers
95-18, DELTA (Ecole normale supérieure).
- Grosfeld, Irena & Roland, Gérard, 1995. "Defensive and Strategic Restructuring in Central European Enterprises," CEPR Discussion Papers 1135, C.E.P.R. Discussion Papers.
- 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.
- 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.
When requesting a correction, please mention this item's handle: RePEc:cer:papers:wp224. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jana Koudelkova)
If references are entirely missing, you can add them using this form.