Results 301 to 310 of about 1,071,812 (351)
SSRN Electronic Journal, 2010 We employ a novel data set on almost 30,000 trade credit contracts to describe the broad characteristics of the parties that contract together and the key terms of these contracts. Whereas prior work has typically used information on only one side of the buyer-seller transaction, we utilize information on both, allowing for the first analysis of buyer ...
Klapper, Leora +2 more
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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
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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.
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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
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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
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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
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2023
Trade credit remains an important source of finance for firms in developing countries and many firms in developed countries, especially those that are young, small, or informationally opaque for other reasons. This paper summarizes the literature and explains the pervasiveness of trade credit, detailing its potential advantages over formal credit in ...
Cull, Robert +2 more
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Trade credit remains an important source of finance for firms in developing countries and many firms in developed countries, especially those that are young, small, or informationally opaque for other reasons. This paper summarizes the literature and explains the pervasiveness of trade credit, detailing its potential advantages over formal credit in ...
Cull, Robert +2 more
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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 ...
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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.
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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.
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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 ...
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