'Finance in the Tuscan Hills' seminar series with Mikhail Mamonov
|| This seminar is open ONLY to EUI members ||
Join us for the next installment of the 'Finance in the Tuscan Hills' seminar series, where we are thrilled to host Mikhail Mamonov, Assistant Professor in Finance at the Toulouse Business School.
Mamonov will be presenting his paper "Quo Vadis? Evidence on New Firm-Bank Matching and Firm Performance Following 'Sin' Bank Closures", which he co-authored with Roman Goncharenko, Steven Ongena, Svetlana Popova and Natalia Turdyeva.
In this insightful exploration, Mamonov and his co-authors investigate the aftermath of the Central Bank of Russia's bold policy of closing fraudulent (sin) banks, a transformative initiative that unfolded between 2013 and 2020. Using comprehensive credit register data, they uncover a fascinating pattern: a post-closure sorting process where poorly-performing firms gravitate towards other (yet-to-be-detected) sin banks, while profitable firms strategically align themselves with financially sound institutions. The study also illuminates the role of common ownership and market concentration in influencing these patterns.
As the authors navigate through this unique period in financial history, they reveal compelling findings. During the transition period after sin bank closures and before firms match with new lenders, poorly-performing firms experience a contraction in size, a sharp decline in borrowings, and market sales. In stark contrast, profitable firms not only weather the storm but strengthen in terms of employment, investment, and market sales.
Join our seminar and don't miss this opportunity to gain insights into the dynamics of firm-bank relationships in the aftermath of regulatory interventions.
The FBF seminar series ‘Finance in the Tuscan Hills’ focuses on financial sector issues and aims to bring together researchers from across the EUI community, who share an interest in these subjects.
Florence School of Banking and Finance