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A Peer-reviewed scientific articles/A1 Journal article (refereed), original research
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Do Banks Learn from Financial Crisis? The Experience of Nordic Banks, Research in International Business and Finance January (2018). Berglund, Tom; Mäkinen, Mikko

Category A Peer-reviewed scientific articles
Sub-category A1 Journal article (refereed), original research
auki Internal authors
All authors as text Berglund, Tom; Mäkinen, Mikko 
Number of authors
Status Published
Year of publication 2019 
Date 13.09.2018 
Name of article Do Banks Learn from Financial Crisis? The Experience of Nordic Banks 
Name of journal Research in International Business and Finance
Volume of issue 47 
Number of issue January 
Pages 428-440 
Abstract Using a large panel data set of Nordic (Finland, Norway and Sweden) and European banks for the period 1994–2010, we study whether banks can retain their lessons from the experience of a severe financial crisis. Our key finding is that the Nordic banks had better returns and greater financial stability compared to other European banks during the 2008 crisis, after controlling for key bank characteristics and macroeconomic factors. Our findings are consistent with the learning hypothesis of Fahlenbrach et al. (2012), suggesting that the Nordic banks were able internalize the lessons from the Nordic systemic banking crisis of the early 1990s.
Free text descriptor in Finnish kriisit; rahoitusmarkkinat; pankkikriisit; pankit; oppiminen; Pohjoismaat; Eurooppa; pankkitoiminta 
Free text descriptor in English Financial crises; Nordic banks; European banks; Learning; Bank performance; Banks; Banking 
JEL-codes G01; G21; G34 
ISSN / e-ISSN 0275-5319 
auki Internet addresses
Additional information Available online 13 September 2018.
Published 15 Jan 2019.
Notes BoF DP 30/2016 
Open Access Not known

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