Fahlenbrach, Rüdiger; Prilmeier, Robert; Stulz, René M. - 2011
We investigate whether a bank’s performance during the 1998 crisis, which was viewed at the time as the most dramatic … crisis since the Great Depression, predicts its performance during the recent financial crisis. One hypothesis is that a bank …, so that its past performance during one crisis forecasts poor performance during another crisis. We show that banks that …