Bank distress and firms' investment during the Great Recession - evidence from Ireland

被引：1

作者：

Spatareanu, Mariana ^{[1
]}

Manole, Vlad ^{[1
]}

Kabiri, Ali ^{[2
]}

机构：

[1] Rutgers State Univ, Dept Econ, Newark, NJ 07102 USA

[2] Univ Buckingham, Dept Econ & Int Studies, Buckingham, MK, England

来源：

APPLIED ECONOMICS LETTERS | 2017年 / 24卷 / 03期

关键词：

Firm performance; bank distress; crisis; D92; G21; FINANCIAL CRISIS;

D O I：

10.1080/13504851.2016.1170928

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article investigates the impact of bank distress on firms' performance using unique data during the Great Recession for Ireland. The results show that bank distress, measured as banks' credit default swap spreads (CDS), has negatively and statistically significantly affected firms' investment expenditures. Interestingly, firms with access to alternative sources of external finance are not impacted by bank distress. The results are robust to accounting for external finance dependence, demand and trade sensitivities, which affect firm performance and the demand for credit.

引用

页码：143 / 147

页数：5

共 50 条

[1] Productivity, Investment and Profits during the Great Recession: Evidence from UK Firms and Workers
Crawford, Claire
Jin, Wenchao
Simpson, Helen
[J]. FISCAL STUDIES, 2013, 34 (02) : 153 - 177
[2] Bank health, lines of credit, and corporate investment: evidence from the Great Recession
Zhang, Wei
Macy, Anne
Wang, Huabing
[J]. APPLIED ECONOMICS LETTERS, 2023,
[3] Reallocation and productivity during the Great Recession: evidence from French manufacturing firms
Domini, Giacomo
Moschella, Daniele
[J]. INDUSTRIAL AND CORPORATE CHANGE, 2022, 31 (03) : 783 - 810
[4] Antecedents of concession bargaining in the Great Recession: evidence from Ireland
Roche, William K.
Teague, Paul
[J]. INDUSTRIAL RELATIONS JOURNAL, 2015, 46 (5-6) : 434 - 445
[5] Bank Leverage and Regulatory Regimes: Evidence from the Great Depression and Great Recession
Koch, Christoffer
Richardson, Gary
Van Horn, Patrick
[J]. AMERICAN ECONOMIC REVIEW, 2016, 106 (05): : 538 - 542
[6] Investment incentives attract foreign direct investment: evidence from the great recession
Katitas, Aycan
Pandya, Sonal
[J]. PUBLIC CHOICE, 2024, 200 (1-2) : 323 - 345
[7] Do Firms Benefit from Concentrating their Borrowing? Evidence from the Great Recession
Gobbi, Giorgio
Sette, Enrico
[J]. REVIEW OF FINANCE, 2014, 18 (02) : 527 - 560
[8] Realized bank risk during the great recession
Altunbas, Yener
Manganelli, Simone
Marques-Ibanez, David
[J]. JOURNAL OF FINANCIAL INTERMEDIATION, 2017, 32 : 29 - 44
[9] Hospital Capital Investment During the Great Recession
Choi, Sung
[J]. INQUIRY-THE JOURNAL OF HEALTH CARE ORGANIZATION PROVISION AND FINANCING, 2017, 54
[10] Small firms and domestic bank dependence in Europe's great recession
Hoffmann, Mathias
Maslov, Egor
Sorensen, Bent E.
[J]. JOURNAL OF INTERNATIONAL ECONOMICS, 2022, 137

← 1 2 3 4 5 →