Results 211 to 220 of about 35,691 (261)
Some of the next articles are maybe not open access.
Trade Credit and Credit Rationing
Review of Financial Studies, 1997Asymmetric information between banks and firms can preclude financing of valuable projects. Trade credit alleviates this problem by incorporating in the lending relation the private information held by suppliers about their customers. Incentive compatibility conditions prevent collusion between two of the agents (e.g., the buyer and the seller) against
Biais, Bruno, Gollier, Christian
openaire +2 more sources
Trade Credit Supply, Market Power and the Matching of Trade Credit Terms
SSRN Electronic Journal, 2008This paper studies the decision of firms to extend trade credit to customers and its relation with their financing decisions. We use a novel firm-level database with unique information on market power in both output and input markets and on the amount, terms and payment history of trade credit simultaneously extended to customers (account receivables ...
Fabbri, D., Klapper, L.F.
openaire +2 more sources
Trade and credit: Revisiting the evidence
Review of International Economics, 2019AbstractThis paper explores the effects of bank lending shocks on the export behavior of Spanish firms. For that purpose, we combine data on exports at the firm‐product‐destination level with a matched bank‐firm dataset incorporating information on the universe of corporate loans from 2002 to 2013.
Eduardo Gutiérrez +1 more
openaire +1 more source
Trade Credit in Competition: A Horizontal Benefit [PDF]
Manufacturing and Service Operations Management, 2017 Trade credit is a widely adopted industry practice. Prior research has focused on how trade credit benefits firms by improving vertical supply chain relationships. This paper offers a novel perspective by examining whether trade credit benefits suppliers through a horizontal channel.
S Alex Yang, Heikki Peura, Guoming Lai
exaly +5 more sources
Trust and the provision of trade credit
Journal of Banking & Finance, 2014Abstract State-controlled listed firms in China receive preferential treatment when borrowing from commercial banks; in contrast, private controlled firms rely on informal finance and on trade credit. We argue for and find evidence that private firms located in higher social trust regions use more trade credit from suppliers, extend more trade credit
Wu, Wenfeng +2 more
openaire +1 more source
The information content of trade credit
Journal of Banking & Finance, 2011Abstract During 1992–2007, suppliers financed almost 10% of the total assets of US listed firms. This intensive usage of trade credit is puzzling in the light of its high (implicit) costs. By arguing that trade credit use provides valuable information to outside investors, we first derive a theoretical model that predicts a positive correlation ...
Aktas, Nihat +3 more
openaire +2 more sources
Trade Credit and the Money Market
Journal of Political Economy, 1970We must have a good definition of Money, For if we do not, then what have we got, But a Quantity Theory of no-one-knows what, And this would be almost too true to be funny. Now, Banks secrete something, as bees secrete honey; (It sticks to their fingers some, even when hot!) But what things are liquid and what things are not, Rests on whether the ...
openaire +1 more source
2018
Chapter 16 examines Athenian trade and credit based on Demosthenes’ speeches, suggesting that any information we take from Demosthenes' speeches about the nature of and attitudes to trade and traders must take the rhetorical context of the speeches into consideration.
openaire +1 more source
Chapter 16 examines Athenian trade and credit based on Demosthenes’ speeches, suggesting that any information we take from Demosthenes' speeches about the nature of and attitudes to trade and traders must take the rhetorical context of the speeches into consideration.
openaire +1 more source
Trade Credit and Informational Asymmetry
The Journal of Finance, 1987ABSTRACTCommonly used trade credit terms implicitly define a high interest rate that operates as an efficient screening device where information about buyer default risk is asymmetrically held. By offering trade credit, a seller can identify prospective defaults more quickly than if financial institutions were the sole providers of short‐term financing.
openaire +1 more source
Trade credit as collateral [PDF]
, 2005 A remarkable feature of short-term business finance is the widespread use of trade credit as collateral in bank borrowing, especially by small and medium-sized firms. The paper models the incentives for a firm to collateralize accounts receivable as a trade-off between the benefit from lower interest rates and the implicit cost from the disclosure of ...
openaire +2 more sources