Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/82300 
Erscheinungsjahr: 
2011
Schriftenreihe/Nr.: 
Danmarks Nationalbank Working Papers No. 73
Verlag: 
Danmarks Nationalbank, Copenhagen
Zusammenfassung: 
Utilising a unique data set with annual accounts from around 37,000 Danish non-financial firms spanning one and a half decade or so, we offer microeconometric evidence on bankfirm relationships and the performance of non-financial firms during the financial crisis 2008-09. Two major conclusions are drawn from the analysis. First, the probability of default during the financial crisis 2008-09 was significantly higher for firms with a weak bank than for comparable firms with a sound bank. Second, non-defaulting firms with a weak bank did not have a lower return on assets during the financial crisis 2008-09 than comparable firms with a sound bank. Taken together, these results may indicate the presence of heterogeneous effects of having a weak bank with significant negative effects on the economic performance for some firms but insignificant effects for the broad mass of firms.
Schlagwörter: 
Financial crisis
Bank-firm relationships
Probability of default
Firm survival
JEL: 
E44
G21
G33
Dokumentart: 
Working Paper
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