Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/153949 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
ECB Working Paper No. 1516
Verlag: 
European Central Bank (ECB), Frankfurt a. M.
Zusammenfassung: 
Utilising a unique data set with annual accounts from around 37,000 Danish non-financial firms spanning almost one and a half decade, we offer microeconometric evidence on bankfirm relationships and the survival of firms during the financial crisis 2008-9. Within the framework of accounting-based credit-scoring models we find that the probability of default during the crisis was significantly higher for firms with a “weak” bank than for comparable firms with a “sound” bank– even after controlling for differences in the credit quality of firms. We discuss how to interpret these results in relation to the real effects of financial crisis.
Schlagwörter: 
bank-firm relationships
financial crisis
firm survival
probability of default
JEL: 
E44
G21
G33
Dokumentart: 
Working Paper

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