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Moazzam Farooq and Sajjad Zaheer

inconsistent with the literature that suggests a negative role of parent bank fragility on the lending of subsidiary. For example, using data of multinational bank-holding companies and their subsidiaries, Allen, Hryckiewicz et al. (2011) document the negative impact of parent bank fragility on subsidiaries’ lending. Our study, however, goes a step further and show that other than the financial strength, ‘religious branding’ in its own right, may help banks steer better through a financial panic. These results support earlier findings of relatively better performance of