BIS paper studies lifecycle of zombie companies

The Bank for International Settlements, Basel
The Bank for International Settlements, Basel
Photo: Ulrich Roth

The number of zombie companies has risen substantially in recent years, raising concerns about the long-term potential of a large proportion of firms, research published by the Bank for International Settlements finds.

Ryan Banerjee and Boris Hofmann seek to fill what they see as a gap in the literature, with little research effort having been devoted to the “anatomy and lifecycle” of zombie firms.

Based only on listed firms, they find the number of zombies has risen from 4% of firms in the

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