文献类型：期刊文献

英文题名：Liability structure and the flight to liquidity: Evidence from swedish banks during the great depression

作者：Zhao, Liang[1,2];Ogren, Anders[3]

机构：[1]Guangdong Ocean Univ, Sch Econ, Zhanjiang, Peoples R China;[2]Lund Univ, Dept Econ Hist, Lund, Sweden;[3]Uppsala Univ, Dept Econ Hist, Uppsala, Sweden

年份：2026

卷号：87

外文期刊名：FINANCE RESEARCH LETTERS

收录：SSCI(收录号：WOS:001630748600012)、、WOS

基金：We acknowledge the financial support from Guangdong Province Philosophy and Social Science Planning Project (GD24XWL01) ; Guangdong Science and Technology Department (MS202500038) ; Guangdong Ocean University Scientific Research Startup Fund: "Study on the Transmission Mechanism of Imported Financial Crises"; Handelsbankens forskningsstiftelser (P23-0079) .

语种：英文

外文关键词：Limited liability bank; Unlimited liability bank; Liquidity ratio; Great depression; Risk-taking

外文摘要：This paper investigates how bank liability regimes shaped liquidity responses during the Great Depression in Sweden. Using monthly balance sheet data (1929-1934), we find that unlimited liability banks increased liquid assets more aggressively in response to monetary tightening and crisis, reallocating away from securities. In contrast, limited liability banks exhibited weaker responses. Mechanism tests reveal higher risk tolerance and funding fragility among limited liability banks, suggesting that internal incentives and external constraints jointly explain institutional heterogeneity in crisis behavior.