Erratum: “Predictors of bank distress: The 1907 crisis in Sweden” (Explorations in Economic History (2021) 80, (101380), (S0014498320300826), (10.1016/j.eeh.2020.101380))

The authors regret to state that several numbers in Tables 3, 4, 5, 7 and Tables A5, A7, A8, A9 in the print version of our paper in the April 2021 issue of the Explorations in Economic History appear with the wrong sign. The negative signs are missing in these tables, and all numbers have the positive sign by mistake. We would like to stress that the text and conclusions of the article remain intact and that the submitted and revised article had all the correct signs. The lack of minus signs is an error that occurred at the production stage of the article. For each table, we first identify each error by the row and column numbers of the incorrect entry and then present its correct value in bold font. We provide the correct version of each table at the end of this erratum. Errors in Tables and their correct values: Table 3: 1. The number in the 2^nd column (median of All banks) in the 1^st row (1 year) should have a minus sign. It should be -0.039.2. The number in the 5^th column (median of Non-Distressed Banks) in the 1^st row (1 year) should have a minus sign. It should be -0.027.3. The number in the 8^th column (median of Distressed banks) in the 1^st row (1 year) should have a minus sign. It should be -0.203.4. The number in the 9^th column (mean of Distressed banks) in the 1^st row (1 year) should have a minus sign. It should be -0.023.5. The number in the 8^th column (median of Distressed banks) in the 2^nd row (2 years) should have a minus sign. It should be -0.152.6. The number in the 9^th column (mean of Distressed banks) in the 2^nd row (2 years) should have a minus sign. It should be -0.097.7. The number in the 8^th column (median of Distressed banks) in the 3rd row (3 years) should have a minus sign. It should be -0.013.8. The number in the 9^th column (mean of Distressed banks) in the 3^rd row (3 years) should have a minus sign. It should be -0.103.9. The number in the 2^nd column (median of All banks) in the 6^th row (1 year) should have a minus sign. It should be -0.238.10. The number in the 5^th column (median of Non-Distressed Banks) in the 6^th row (1 year) should have a minus sign. It should be -0.155.11. The number in the 6^th column (mean of Non-Distressed Banks) in the 6^th row (1 year) should have a minus sign. It should be -0.175.12. The number in the 8^th column (median of Distressed Banks) in the 6^th row (1 year) should have a minus sign. It should be -0.335.13. The number in the 2^nd column (median of All banks) in the 7^th row (2 years) should have a minus sign. It should be -0.085.14. The number in the 5^th column (median of Non-Distressed Banks) in the 7^th row (2 years) should have a minus sign. It should be -0.064.15. The number in the 8^th column (median of Distressed Banks) in the 7^th row (2 years) should have a minus sign. It should be -0.191.16. The number in the 9^th column (mean of Distressed Banks) in the 7^th row (2 years) should have a minus sign. It should be -0.093.17. All the numbers for medians and means in the 8^th row (3 years) should have a minus sign. They should read: -0.225, -0.134, -0.203, -0.087, -0.496, -0.486.18. All the numbers for medians and means in the 9^th row (4 years April 1907- April 1911) should have a minus sign. They should read: -0.278, -0.214, -0.270, -0.180, -0.619, -0.535.19. All the numbers for medians and means in the 10^th row (4 years Dec 1907-Dec 1912) should have a minus sign. They should read: -0.362, -0.128, -0.362, -0.128.Table 4: 1. The coefficient in the 2^nd row and 1^st column (ll*cr for Collateralized Lending) misses a minus sign. It should be -0.0348.2. The coefficient in the 2^nd row and 2^nd column (ll*cr for Collateralized Lending) misses a minus sign. It should be -0.672***.3. The coefficient in the 3^rd row and 1^st column (ff for Collateralized Lending) misses a minus sign. It should be -0.0789.4. The coefficient in the 4^th row and 2^nd column (ff*cr for Collateralized Lending) misses a minus sign. It should be -0.103.5. The coefficient in the 4^th row and 3^rd column (ff*cr for Trade Credit) misses a minus sign. It should be -0.577***.6. The coefficient in the 4^th row and 4^th column (ff*cr for Trade Credit) misses a minus sign. It should be -0.477**.7. All coefficients in the 5^th row (lev) miss a minus sign. They should read: -0.184**, -0.633***, -0.0776, -0.564***.8. The coefficient in the 9^th row and 4^th column (ROE₁₉₀₆*cr for Trade Credit) misses a minus sign. It should be -0.926.9. The coefficient in the 10^th row and 2^nd column (Liability Structure*cr for Collateralized Lending) misses a minus sign. It should be -2.642***.10. Both coefficients in the 11th row (SRL_{April_1907}*cr) miss a minus sign. They should be: - 13.49***, -3.898*.11. The coefficient in the 12^th row and 2^nd column (TDR_{April_1907}*cr for Collateralized Lending) misses a minus sign. It should be -1.883.Table 5: 1. The coefficient in the 1^st column and 1^st row for Liquid Liabilities Ratio misses a minus sign and should be -8.715.2. The coefficient in the 1^st column and 4^th row for Leverage misses a minus sign and should be -0.360.3. The coefficient in the 2^nd column and 6^th row for Cash/Total Assets Ratio misses a minus sign and should be -68.67*.4. The coefficient in the 2^nd column and 8^th row for ROE misses a minus sign and should be -32.57*.5. The coefficient in the 3^rd column and 9^th row for Log(age) misses a minus sign and should be -0.100.6. The coefficient in the 3^rd column and 10^th row for Board Members misses a minus sign and should be -0.197*.7. The coefficient in the 3^rd column and 11^th row for Branch Concentration misses a minus sign and should be -3.274***.8. The coefficient in the 3^rd column and 12^th row for Liability Structure misses a minus sign and should be -0.272.Table 7: 1. The coefficient in the 2^nd row and 4^th column (Foreign Funding Ratio) misses a minus sign. It should be -0.00686.2. The coefficient in the 3^rd row and 4^th column (Leverage Growth) misses a minus sign. It should be -0.00475.3. The coefficient in the 5^th row and 5^th column (Share Lending Ratio) misses a minus sign. It should be -0.0261*.4. The coefficient in the 7^th row and 5^th column (Non-Performing Assets Share) misses a minus sign. It should be -1.144***.Table A5: 1. All numbers for medians and means in the 1^st row (1 year) of the Table miss minus signs. They should read: -0.077, -0.035, -0.068, -0.034, -0.244,-0.039.2. All numbers for medians and means in the 2^nd row (2 years) of the Table miss minus signs. They should read: -0.084, -0.034,-0.063,-0.011,-0.221,-0.152.3. In the 3^rd row (3 years) in the 2^nd column (median for All Banks) there is a minus sign missing. It should be – 0.059.4. In the 3^rd row (3 years) in the 5th column (median for Non-Distressed Banks) there is a minus sign missing. It should be – 0.050.5. In the 3^rd row (3 years) in the 8th column (median for Distressed Banks) there is a minus sign missing. It should be – 0.112.6. In the 3^rd row (3 years) in the 9th column (mean for Distressed Banks) there is a minus sign missing. It should be – 0.108.7. In the 4th row (4 years April 1907-April 1911) in the 2^nd column (median for All Banks) there is a minus sign missing. It should be –0.074.8. In the 4th row (4 years April 1907-April 1911) in the 5th column (median for Non-Distressed Banks) there is a minus sign missing. It should be –0.112.9. In the 5th row (4 years Dec 1907-Dec 1912) in the 2^nd column (median for All Banks) there is a minus sign missing. It should be –0.038.10. In the 5th row (4 years Dec 1907-Dec 1912) in the 5th column (median for Non-Distressed Banks) there is a minus sign missing. It should be –0.038.11. In the 6^th row (1 year) the median and mean numbers in columns 2,3,5,6,8 miss minus signs. They should read: -0.256,-0.040,-0.210,-0.225,-0.389.12. In the 7^th row (2 years) all median and mean numbers miss the minus signs. They should read: -0.166,-0.113,-0.147,-0.094, -0.277,-0.228.13. In the 8^th row (3 years) all median and mean numbers miss the minus signs. They should read: -0.268,-0.251,-0.254, -0.217,-0.489,-0.508.14. In the 9^th row (4 years April 1907-April 1908) all median and mean numbers miss the minus signs. They should read: -0.441,-0.391,-0.405,-0.374,-0.553,-0.554.15. In the 10^th row (4 years Dec 1907-Dec 1912) all median and mean numbers miss the minus sign. They should read: -0.443,-0.403,-0.443,-0.403.Table A7: 1. Coefficient in the 1^st row and 2^nd column (Before April 1907 for Collateralized Lending) misses the minus sign. It should be -0.825.2. Coefficient in the 1^st row and 4^th column (Before April 1907 for Trade Credit) misses the minus sign. It should be -0716.3. Coefficient in the 2^nd row and 2^nd column (1907: After April 1907 for Collateralized Lending) misses the minus sign. It should be -0.551.4. Coefficient in the 4^th row and 2^nd column (1909 for Collateralized Lending) misses the minus sign. It should be -0.936*.5. Coefficient in the 5^th row and 2^nd column (1910 for Collateralized Lending) misses the minus sign. It should be -0.971***.6. Coefficient in the 6^th row and 2^nd column (1911 for Collateralized Lending) misses the minus sign. It should be -0.881**.7. Coefficient in the 7^th row and 1^st column (Before April 1907 for Collateralized Lending) misses the minus sign. It should be -0.0896.8. Coefficient in the 7^th row and 2^nd column (Before April 1907 for Collateralized Lending) misses the minus sign. It should be -0.518.9. Coefficient in the 9^th row and 1^st column (1908 for Collateralized Lending) misses the minus sign. It should be -0.0138.10. Coefficient in the 12^th row and 1^st column (1911 for Collateralized Lending) misses the minus sign. It should be -0.398.11. Coefficient in the 12^th row and 3^rd column (1911 for Trade Credit) misses the minus sign. It should be -0.418*.12. Coefficient in the 12^th row and 4^th column (1911 for Trade Credit) misses the minus sign. It should be -1.224***.13. Coefficient in the 13^th row and 4^th column (Leverage for Trade Credit) misses the minus sign. It should be -1.329***.14. Coefficient in the 15^th row and 4^th column (ROE₁₉₀₆ for Trade Credit) misses the minus sign. It should be -39.46***.15. Coefficient in the 17^th row and 2^nd column (Liability Structure for Collateralized Lending) misses the minus sign. It should be -12.34***.16. Coefficient in the 17^th row and 4^th column (Liability Structure for Trade Credit) misses the minus sign. It should be -3.993***.17. Coefficient in the 18^th row and 2^nd column (SRL_{April_1907} for Collateralized Lending) misses the minus sign. It should be -31.94***.18. Coefficient in the 18^th row and 4^th column (SRL_{April_1907} for Trade Credit) misses the minus sign. It should be -28.22***.19. Coefficient in the 19^th row and 2^nd column (TDR_{April_1907} for Collateralized Lending) misses the minus sign. It should be -49.32***.Table A8: 1. Coefficient in the 1^st row and 1^st column (LLB %∆ Liquid Liabilities) misses the minus sign. It should be -0.223.2. Coefficient in the 1^st row and 2^nd column (LLB %∆ Liquid Liabilities) misses the minus sign. It should be -18.54**.3. All coefficients in the 2^nd row (ULB %∆ Liquid Liabilities) miss minus signs. They should be: -6.601*, -18.74**, -16.82**.4. Coefficient in the 3^rd row and 3^rd column (LLB %∆ Foreign Funding) misses a minus sign. It should be -5.073.5. All coefficients in the 7^th row (Foreign Funded %∆ Liquid Liabilities) miss minus signs. They should be: -8.796***, 16.01**,-11.92*.6. The coefficient in the 9^th row and 7^th column (Big Banks %∆ Liquid Liabilities) misses the minus sign. It should be -6.371*.Table A9: 1. The coefficient in the 1^st row and 1^st column (LLB Liquid Liabilities Ratio) misses the minus sign. It should be -5.998.2. The coefficient in the 2^nd row and 1^st column (ULB Liquid Liabilities Ratio) misses the minus sign. It should be -4000.3***.3. The coefficient in the 3^rd row and 2^nd column (Liquid Liabilities Ratio) misses the minus sign. It should be -6.962.4. The coefficient in the 4^th row and 1^st column (LLB Foreign Funding Ratio) misses the minus sign. It should be -0.190.5. All coefficients in the 7^th row (Leverage) miss a minus sign. They should be -0.218, -0.281, -0.332.6. The coefficient in the 11^th row and 2^nd column (Domestically Funded Leverage Growth) misses a minus sign. It should be -2.310.7. The coefficient in the 13^th row and 3^rd column (Big Banks Liquid Liabilities Ratio) misses the minus sign. It should be -9.586.8. The coefficient in the 14^th row and 3^rd column (Small Banks Liquid Liabilities Ratio) misses a minus sign. It should be -6.442.9. The coefficient in the 16^th row and 3^rd column (Small Banks Leverage Growth) misses a minus sign. It should be -2.896.Correct Tables The tables with correct entries are presented below. The publisher would like to apologise for any inconvenience caused.