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Economic Perspectives, Vol. 27, 3rd, No. 3, July 2003
Banking relationships during financial distress: The evidence from Japan
This article examines some implications of the failure of three large Japanese banks in 1997 and 1998. The authors examine the response in the equity returns of surviving Japanese banks to the three failure announcements. In addition, they provide evidence on the value of banking relationships by examining the impact of bank failures on the clients of failed and surviving banks.
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