Year of Graduation
Bank-Client Relationships in Russia
Double degree programme in Economics of the NRU HSE and the University of London
I investigate the determinants of multiple-bank relationships using a new data set comprised of 6897 largest firms in Russia. I document share of listing on stock market of large firms in Russia, as well as share of Government - owned firms, and impact on amount of bank relationships maintained by firm . After controlling for a variety of firm-specific characteristics, through Tobit model, I find that firms maintain more bank relationships, on average, if they are relatively old, owned by government, solvent and listed on a stock market. Firms which recently undergone media-covered restructurisation also maintain largest amount of bank relationship.