| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17038 |
| 来源ID | Working Paper 17038 |
| This Time Is the Same: Using Bank Performance in 1998 to Explain Bank Performance During the Recent Financial Crisis | |
| Rüdiger Fahlenbrach; Robert Prilmeier; René M. Stulz | |
| 发表日期 | 2011-05-12 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | We investigate whether a bank's performance during the 1998 crisis, which was viewed at the time as the most dramatic crisis since the Great Depression, predicts its performance during the recent financial crisis. One hypothesis is that a bank that has an especially poor experience in a crisis learns and adapts, so that it performs better in the next crisis. Another hypothesis is that a bank's poor experience in a crisis is tied to aspects of its business model that are persistent, so that its past performance during one crisis forecasts poor performance during another crisis. We show that banks that performed worse during the 1998 crisis did so as well during the recent financial crisis. This effect is economically important. In particular, it is economically as important as the leverage of banks before the start of the crisis. The result cannot be attributed to banks having the same chief executive in both crises. Banks that relied more on short-term funding, had more leverage, and grew more are more likely to be banks that performed poorly in both crises. |
| 主题 | Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w17038 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574712 |
| 推荐引用方式 GB/T 7714 | Rüdiger Fahlenbrach,Robert Prilmeier,René M. Stulz. This Time Is the Same: Using Bank Performance in 1998 to Explain Bank Performance During the Recent Financial Crisis. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17038.pdf（459KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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