Bank-firm relationships and the survival of non-financial firms during the financial crisis 2008-2009

Kim Abildgren, Birgitte Vølund Buchholst and Jonas Staghøj

No 1516, Working Paper Series from European Central Bank

Abstract: 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 JEL Classification: E44, G21, G33

Keywords: bank-firm relationships; financial crisis; firm survival; probability of default (search for similar items in EconPapers)
Date: 2013-02
New Economics Papers: this item is included in nep-ban, nep-bec, nep-cse and nep-sbm
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20131516

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