Conference Paper
The effects of the Norwegian banking crisis on Norwegian bank and nonbank stocks
Michalsen, Dag; Kaen, Fred R. (1995)
Proceedings , Paper 452

Working Paper
Firms and their distressed banks: lessons from the Norwegian banking crisis (1988-1991)
Smith, David C.; Ongena, Steven; Michalsen, Dag (2000)
We use the near-collapse of the Norwegian banking system during the period 1988-91 to measure the impact of bank distress announcements on the stock prices of firms maintaining a relationship with a distressed bank. We find that although banks experienced large and permanent downward revisions in their equity value during the event period, firms maintaining relationships with these banks faced only small and temporary changes, on average, in stock price. In other words, the aggregate impact of bank distress on listed firms in Norway appears small. Our results stand in contrast to studies that ...
International Finance Discussion Papers , Paper 686

Conference Paper
Firms and their distressed banks: lessons from the Norwegian banking crisis (1988-1991)
Smith, David C.; Ongena, Steven; Michalsen, Dag (2001)
Proceedings , Paper 746