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Behavior of Corporate Depositors During a Bank Panic

We use high-frequency data to study access and response to bank-level information by corporate depositors during a banking crisis. We examine a bank panic episode in Russia during the summer of 2004 triggered by the Central Bank of Russia (CBR) announcement to liquidate banks for suspicious operations. Our results support the presence of sophisticated depositor monitoring and discipline. Private information about bank risk is available to depositor-firms with a strong business connection to their bank. Other corporate depositors make withdrawals based on publicly observable bank characteristics. Corporate depositors (both with and without strong business ties to the bank) are also susceptible to rumors floating around the banking community. However, those rumors reflect bank-risk fundamentals. Contagion effects seem to be limited.

Ketersediaan

Informasi Detail

Judul Seri

MANAGEMENT SCIENCE; Vol.68 No.12 December 2022

No. Panggil

-

Penerbit

: .,

Deskripsi Fisik

p. 9129-9151

Bahasa

English

ISBN/ISSN

-

Klasifikasi

NONE

Tipe Isi

-

Tipe Media

-

Tipe Pembawa

-

Edisi

-

Subjek

MARKET DISCIPLINE
BANK PANIC
CORPORATE DEPOSITORS
BANK-FIRM CONNECTIONS
REGULATORY DISCIPLINE

Info Detail Spesifik

https://doi.org/10.1287/mnsc.2022.4304

Pernyataan Tanggungjawab

Lucy Chernykh, Sergey Mityakov

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