Bank ownership and firm performance
研究了2008-9年金融危机期间，与私有银行（国内和外资）有关联的印度制造企业，其销售和出口分别下降约10%和25%，且裁员更多、资本品进口更少，而国有银行关联企业受影响较小。
Abstract Does a bank's ownership matter for the performance of a firm to which it is connected, especially in the event of a crisis? I study this question through the effect of the 2008–9 crisis on Indian manufacturing firms to provide evidence on a new channel that can matter significantly for a firm's performance—bank ownership. I find that firms connected to private (domestic and foreign) banks earned around 10% and 25% less from sales and exports, respectively, during the crisis, as compared to firms having banking relationships with public‐sector banks. This happened as private banks were affected differentially in terms of credit supply from the Central Bank and withdrawal of deposits. Firms connected to private banks also laid off more workers, and imported fewer capital goods. Finally, these effects are significant across the size distribution of the firms (except the smallest firms), for firms producing intermediates, and about 40% less for firms that belong to a business group.