Dwenger, Nadja; Fossen, Frank M.; Simmler, Martin - 2015 - First version: February 14, 2015, This version: September 25, 2015
What began as a financial crisis in the United States in 2007-2008 quickly evolved into a massive crisis of the global … that banks that suffered losses due to proprietary trading activities at the onset of the financial crisis reduced their … lending more strongly than non-affected banks. In the second stage, we find that firms whose relationship banks reduce credit …
