Spatareanu, Mariana and Manole, Vlad and Kabiri, Ali (2020) The Real effects of Banks' Nationalisation - Evidence from the UK. Applied Economics Letters. ISSN 1350-4851 (Print), 1466-4291 (Online) (In Press)
|
Text
Kabiri2021.pdf - Accepted Version Download (810kB) | Preview |
Abstract
How did the nationalization of UK operating banks as a result of the 2008 banking crisis impact their client firms’ performance? We use unique firm-bank data and a propensity score matching technique and find that firms that borrowed from nationalized banks show a slight decrease in the growth of investment and innovation relative to firms that borrowed from non-nationalized banks. Interestingly, we find that firms that borrowed from nationalized banks slightly increase employment, short-term debt and cash holdings. Overall, these firms were able to maintain performance as a result of the policy intervention.
| Item Type: | Article |
|---|---|
| Additional Information: | Date of Acceptance 20th December 2020 |
| Uncontrolled Keywords: | firm performance, bank nationalization, financial crisis |
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | School of Humanities & Social Sciences > Economics |
| Depositing User: | Ali Kabiri |
| Date Deposited: | 26 Jan 2021 15:19 |
| Last Modified: | 22 Jun 2022 00:15 |
| URI: | http://bear.buckingham.ac.uk/id/eprint/497 |
Actions (login required)
 |
View Item |
